Givaudan (GIVN) Investor presentation summary

Business overview and strategy

• Operates in Taste & Wellbeing and Fragrance & Beauty, focusing on creativity, innovation, and collaboration to meet evolving consumer needs.

• Maintains a naturally hedged portfolio across geographies and product categories, with 51% of sales in mature markets and 49% in high-growth markets.

• 2030 strategy targets 4–6% like-for-like growth and over 12% free cash flow, emphasizing sustainable growth, customer reach, and portfolio expansion.

• Growth drivers include extending customer reach, deepening geographical presence, and expanding into high-value adjacencies like beauty and pet food.

• Focuses on innovation, digital transformation, and sustainability as core differentiators.

Financial performance

• Achieved CHF 7,472 million in 2025 sales, with 5.1% like-for-like growth and 24.2% comparable EBITDA margin.

• Net income for 2025 was CHF 1,071 million (14.3% of sales), with free cash flow at CHF 1,053 million (14.1% of sales).

• Dividend per share increased for the 25th consecutive year, up 2.9% over 2025.

• Maintains a balanced debt structure with a weighted average effective interest rate of 1.94% as of December 2025.

• All regions contributed to growth, with high-growth markets showing 8.0% like-for-like sales increase.

Operational highlights

• Taste & Wellbeing segment delivered CHF 3,642 million in sales, with a 21.7% comparable EBITDA margin.

• Fragrance & Beauty segment achieved CHF 3,830 million in sales, with a 26.5% comparable EBITDA margin.

• Invested CHF 551 million in R&D in 2025 (7.4% of sales), supporting over 5,000 active patents and 65 creation and research centers.

• Over 300,000 customer briefs handled annually, with strong IP protection and high customer switching costs.

• Recent acquisitions have strengthened capabilities in natural ingredients, biotechnology, and digital innovation.