International Flavors & Fragrances, Inc. · NYSE:IFF
International Flavors & Fragrances — Q4 2024 Earnings Presentation
14 slides from International Flavors & Fragrances's earnings presentation, Feb 19, 2025
Slide 1: Fourth Quarter & Full Year 2024 Earnings Conference Call
Fourth Quarter & Full Year 2024 Earnings Conference Call February 19, 2025
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT Statements in this presentation release, which are not historical facts or information, are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current assumptions, est
Slide 3: Non-GAAP Financials
NON-GAAP FINANCIALS We provide in this presentation non-GAAP financial measures, including: (i) comparable, currency neutral sales; (ii) adjusted operating EBITDA and comparable, currency neutral adjusted operating EBITDA; (iii) adjusted operating EBITDA margin; (iv) adjusted EPS ex amortization; (v
Slide 4: Today's Speakers
TODAY’S SPEAKERS Erik Fyrwald Michael DeVeau Michael Bender Chief Executive Officer EVP, Chief Financial Officer Director, Investor Relations 4
Slide 5: Agenda
AGENDA 2024 Performance ____ 2025 Outlook ____ Q&A 5
Slide 6: 2024 Progress: Driving Strong Execution
DRIVING STRONG EXECUTION 2024 PROGRESS OBJECTIVES S TAT U S Delivered on our financial commitments, with a marked financial improvement in 2024 Established new business-led operating model & new IFF operating system to drive greater accountability Refreshed strategy focused on biotech as a competiti
Slide 7: FY 2024 Financial Highlights
FY 2024 FINANCIAL HIGHLIGHTS Sales Volume Adjusted Operating $11.5B Recovery EBITDA¹ of $2.2B Comparable currency Strong recovery Comparable adjusted neutral sales ¹ +6% vs prior year lows operating EBITDA¹ +16% Dividend Portfolio Net Debt to Credit Policy Optimization Adjusted EBITDA1 of 3.8x Right
Slide 8: Q4 2024 Consolidated Results
Q4 2024 CONSOLIDATED RESULTS Comparable Reported In millions / % of sales 2023 2024 Ad j u s t e d % % Δ Comparable currency neutral sales1 2 increased Δ¹ ² 6% led by broad-based growth across all BUs ____ Revenue² $2,703 $2,771 3% 6%3 Volume grew mid-single digits, with growth in all businesses ___
Slide 9: Q4 2024 Segment Performance
Q4 2024 SEGMENT PERFORMANCE NET ADJUSTED SALES O P E R AT I N G EBITDA¹ SEGMENT (Comparable (Comparable HIGHLIGHTS currency neutral adjusted vs. vs. 4Q 23) ¹ ² 4Q 23)¹ ² $1.4 billion $170 million • Delivered double-digit growth in Flavors; Functional Ingredients volume Nourish improved mid-single di
Slide 10: FY 2024 Cash Flow & Leverage
FY 2024 CASH FLOW & LEVERAGE Cash Flow Leverage Cash and cash equivalents finished at $471 million, FY cash flow from operations totaled $1,069 million which includes $2 million currently in assets held for sale ____ ____ Capex on FY basis was $463 million or ~4.0% of sales Gross debt totaled $9,005
Slide 11: FY 2025 Consolidated Outlook
FY 2025 CONSOLIDATED OUTLOOK FY 2025¹ In millions or as % of sales Operating environment remains dynamic; Growth expected OUTLOOK to be driven by volume improvements in all businesses Revenue $10.6B – $10.9B ____ Raw material costs remain elevated across business; Comparable currency neutral 1 Δ 1%
Slide 12: 2025 Priorities
2025 PRIORITIES Strengthen innovation capabilities via stronger R&D processes, improved pipeline clarity, formalized targets and key milestones Reinvest in business to strengthen R&D, commercial and capacity Deliver productivity savings & strengthen continuous improvement Complete Pharma divestiture
Slide 13: Summary
SUMMARY Pleased with our financial performance in 2024; Building upon this foundation to drive financial improvements & strengthen IFF in 2025 Implemented our new business-led operating model, refined our operational philosophy, and refreshed our strategic direction Enhancing our talent & culture to
Slide 14: IFF: Where science & creativity meet
iF f Where science & creativity meet
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