SWISS fragrance and flavor maker Givaudan reported higher-than-expected like-for-like sales growth for the first quarter on Tuesday, as robust demand for perfumes and consumer products offset a decline in its food ingredients business.
The company’s quarterly sales rose 2.8 percent on a like-for-like basis, while analysts polled by the company were expecting a 1.9-percent rise on average.
A slower start to 2026, with group organic growth decelerating from 7.4 percent a year ago, was cushioned by a strong performance in the Fragrance & Beauty unit where like-for-like sales grew 5.9 percent, beating a consensus estimate of 4.1 percent.
Growth in the division, which creates scents for perfumes and household products, was driven by strong performances in its perfumery, and personal and home care businesses.
But Givaudan’s Taste & Wellbeing unit, which supplies flavors for food and drinks, saw its organic sales decline by 0.4 percent amid weakness in Europe, the Middle East and Latin America.
On a reported basis, group sales fell 5.2 percent to 1.88 billion Swiss francs ($2.40 billion), as a 9.2-percent currency headwind from the strengthening franc weighed on the group’s results.
The company said it was implementing price increases to fully compensate for rising input costs in 2026. reuters
