Fragrance maker Givaudan forecasts 4-5% sales growth this year after strong 2019


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Fragrance maker Givaudan forecasts 4-5% sales growth this year after strong 2019

On Friday, the 24th of January 2020, Givaudan, the Vernier-based Swiss manufacturer of fragrances, flavours and active cosmetic ingredients, had revealed its annual sales projection for 2020 adding that the company was confidence of a sales growth between 4 per cent to 5 per cent this year, indicating a likely marginal downturn in sales as the Swiss fragrance maker had scored a growth figure of 5.8 per cent last year being benefitting from an unprecedented hike in prices.

Meanwhile, adding that the Swiss fragrance strongly believe the company could deliver a growth projection between 4 to 5 per cent on top line, Givaudan’s Chief Financial Officer (CFO), Tom Hallam said to the reporters in a telephone interview on Friday (January 24th,), “We have a five-year strategy and we’re very confident we’ll deliver on that, so 4 to 5% on top line.

We will not have any new price increases, but we continue to see good demand in high-growth markets. Confidence in the U.S. is good and a lot of the questions we had in Europe in 2019, like Brexit, are behind us. Large customers continue to struggle to eke out growth in some of these big markets (like North America).

” Besides, following a fairly upbeat sales forecast for the Swiss luxury flavours & fragrances manufacturer, shares’ prices of the Swiss Stock exchange listed Givaudan SA wrapped up Friday’s (January 24th) market 2.04 per cent higher to 3,154.00.