Givaudan Announces 2025 Half-Year Results

Givaudan delivered strong first-half 2025 results, with sales of CHF 3,864 million, up 6.3% like-for-like, driven by broad-based growth across all segments and geographies.

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EBITDA reached CHF 973 million with a margin of 25.2%, and net income totaled CHF 592 million. Despite temporarily dipping its free cash flow to -0.4% of sales due to investment and taxtiming, the company maintains strong financial health and stays on track to exceed its 2025 growth targets, with plans to unveil its new 2030 strategy on 27 August 2025.

2025 Half-year Results

Sustained strong performance

• Sales of CHF 3,864 million, an increase of 6.3% on a like-for-like basis and 3.4% in Swiss francs

• Strong sales growth across all business segments, geographies, and customer groups, demonstrated by continued outperformance in Fine Fragrance, a 10.0% increase on a like-for-like basis in the high-growth market, and sustained strong growth with local and regional customers

• Comparable EBITDA of CHF 973 million, a margin of 25.2% compared to 24.8% in 2024

• Net income of CHF 592 million, a margin of 15.3% of sales

• Free cash flow of -0.4% of sales, driven by timing effects of investments and tax payments

Sales Performance

Givaudan Group sales for the first six months of the year were CHF 3,864 million, an increase of 6.3% on a like-for-like (LFL) basis and 3.4% in Swiss francs, with currency volatility and a strong Swiss franc impacting the sales performance in Swiss francs.

Givaudan continued the first six months of the year with good volume growth and maintained its operations and global supply chain at a high level.

All business segments, geographies, and customer groups drove the strong growth, with Fine Fragrance outperforming through a 10.0% like-for-like increase in high-growth markets and continued strong performance from local and regional customers.