Givaudan Sa · SIX:GIVN
Givaudan Sa — H1 2025 Earnings Presentation
28 slides from Givaudan Sa's earnings presentation, Jul 22, 2025
Slide 1: 2025 Half year results
22 JULY 2025 2025 Half year results Conference call for Investors and Analysts
Slide 2: Sales performance, Operating performance, Strategy and outlook, Q&A
1 2 3 4 Sales Operating Strategy and Q&A Performance performance outlook Gilles Andrier Stewart Harris Gilles Andrier CEO CFO CEO 2025 Half year results - Givaudan Conference Call for Investors and Analysts 2
Slide 3: Sales performance
1 Sales performance Gilles Andrier Chief Executive Officer
Slide 4: 2025 Half year results: Strong financial performance
2025 Half year results Strong financial performance Sales Strong sales growth of CHF 3,864 million, an across all business segments, geographies and customer groups, increase of 6.3% LFL* demonstrated by continued outperformance in Fine Fragrance, and 3.4% in Swiss francs a 10.0% increase LFL* in th
Slide 5: Half year sales performance: Strong growth in both divisions
Half year sales performance Strong growth in both divisions In CHF million HY 2024 HY 2025 GROUP SALES 3,737 3,864 3,864 million CHF +6.3% LFL* FRAGRANCE & BEAUTY 1,955 1,826 1,955 1,911 1,909 million CHF +8.6% LFL* TASTE & WELLBEING 1,909 million CHF +4.1% LFL* GROUP FRAGRANCE & BEAUTY TASTE & WELL
Slide 6: Sales evolution by market: Strong performance in high growth markets
Sales evolution by market Strong performance in high growth markets In CHF million HY 2024 HY 2025 MATURE 2,015 1,986 1,878 1,986 million CHF +2.9% LFL* 1,722 HIGH GROWTH 1,878 million CHF +10.0% LFL* MATURE HIGH GROWTH ________________________________________________________________________________
Slide 7: Sales evolution by region: All regions contributing to the growth
Sales evolution by region All regions contributing to the growth In CHF million 1,620 +1.7% +8.6% HY 2024 HY 2025 1,509 NOAM EAME 897 913 881 888 450 443 +9.4% +5.3% LATAM APAC LATAM APAC NOAM EAME ___________________________________________________________________________________________________ --
Slide 8: Fragrance & Beauty: Sales growth of 8.6% on a LFL basis
Fragrance & Beauty Sales growth of 8.6% on a LFL* basis In CHF million FRAGRANCE INGREDIENTS FINE FRAGRANCE CONSUMER PRODUCTS & ACTIVE BEAUTY 1,955 Sales increased by Sales increased by Sales increased by 18.0% 6.1% 5.7% 1,826 +7.0% LFL* LFL* LFL* Excellent growth against Sustained strong growth Str
Slide 9: Taste & Wellbeing: Sales growth of 4.1% on a LFL basis
Taste & Wellbeing Sales growth of 4.1% on a LFL* basis In CHF million SALES BY REGION ____________________________________________________________________________________________________ 2024 sales growth 2025 sales growth 1,911 1,909 LFL* LFL* _______________________________________________________
Slide 10: Addressing customer needs and consumer trends: innovation highlights
Addressing customer needs and consumer trends 2025 Half year innovation highlights MYROMI EVERZURE ZENSERA GALDIERIA Our new Patent-pending handheld, app- FDA approved lemon balm extract controlled aroma natural colour, with supporting calmness device enabling a vibrancy that and improving real-time
Slide 11: Operating performance
2 Operating performance Stewart Harris Chief Financial Officer
Slide 12: 2025 Half year results: Performance highlights
2025 Half year results Performance highlights Sales Reported EBITDA Comparable EBITDA margin of CHF 3,864 million, an of CHF 945 million compared to of CHF 973 million increase of 6.3% LFL* basis and CHF 906 million, with an EBITDA compared to CHF 929 3.4% in Swiss francs margin of 24.5% compared to
Slide 13: Exchange rate development vs CHF
Half year results Exchange rate development vs CHF -1% -1% -1% -2% -3% -3% -5% -14% -17% JPY USD GBP EUR SGD BRL CNY MXN IDR HY 2025 5.81 0.86 1.12 0.94 0.65 0.15 11.93 4.31 0.53 HY 2024 5.85 0.89 1.13 0.96 0.66 0.17 12.34 5.21 0.56 Units 1000 1 1 1 1 1 100 100 10,000 2025 Half year results - Givaud
Slide 14: Operating performance: Group
Operating performance Group EBITDA in CHF million 44.1% Gross margin 44.0% Gross margin of 44.0% compared to 44.1% in 2024 in % • Stable gross margin, despite higher input costs, including global 906 945 trade tariff impacts EBITDA of CHF 945 million compared to CHF 906 million in 2024 +4.4% • Acqui
Slide 15: Operating performance: Fragrance & Beauty
Operating performance Fragrance & Beauty EBITDA in CHF million EBITDA of CHF 525 million increased from CHF 500 million in 2024 500 525 • Acquisition, restructuring and project related costs of CHF 15 million, compared to CHF 14 million in 2024, mainly related to costs incurred for the competition a
Slide 16: Operating performance: Taste & Wellbeing
Operating performance Taste & Wellbeing EBITDA in CHF million EBITDA of CHF 420 million increased from CHF 406 million in 2024 • Expenses of CHF 9 million in relation to the Louisville accident 406 420 • Acquisition, restructuring and project related costs of CHF 4 million mostly related to remainin
Slide 17: Net income: 15.3% of sales
Net income 15.3% of sales In CHF million Income before tax of CHF 713 million 592 compared to CHF 700 million in 2024, an increase of 1.9% 588 Net income of CHF 592 million, or 15.3% of sales versus CHF 588 million, or 15.7% of sales in 2024 • Other financial income, net of expenses, were CHF 6 mill
Slide 18: Free cash flow: Driven by timing effects on investments and tax payments
Free cash flow Driven by timing effects on investments and tax payments In CHF million Free cash flow of CHF -16 million compared to CHF 197 million in 2024 Free cash flow is -0.4% of sales compared to 5.3% in 2024 197 Operating cash flow of CHF 248 million compared to CHF 427 million in 2024 Total
Slide 19: Balanced debt structure and improving leverage
Balanced debt structure and Improving leverage DEBT MATURITIES NET DEBT TO EBITDA 3.7 3.5 995 994 3.1 3.0 2.9 2.9 666 635 2.5 463 465 2.3 293 19 150 Cash ST < 1 Y 1-2 Y 2-3 Y 3-4 Y 4-5 Y 5-6 Y 6-7 Y 8-9 Y FY 2021 HY 2022 FY 2022 HY 2023 FY 2023 HY 2024 FY 2024 HY 2025 The weighted average effective
Slide 20: 2025 strategy & outlook
3 2025 strategy & outlook Gilles Andrier Chief Executive Officer
Slide 21: 2025 Strategy: Committed to Growth, with Purpose
2025 Strategy Committed to Growth, with Purpose Creations Nature We create inspiring We show our love solutions for happier, for nature through healthier lives impactful actions Growing together with People our customers Communities We nurture a place We bring benefits where we all love to to all co
Slide 22: 2025 Strategy: On track to deliver on our performance commitments
2025 Strategy On track to deliver on our performance commitments AMBITION Sales growth Free cash flow Purpose commitments 4.0% − 5.0% >12% of sales 2021-2025 2021-2025 Purpose-linked Average LFL1 sales growth Average FCF2 as % of sales targets STATUS AT 31 DEC 2024 7.2% 12.1% Ongoing progress Averag
Slide 23: 2025 outlook: Key themes review
2025 outlook Key themes review 2025 strategy 2025 Non-recurring delivery outlook costs • Fully on track to deliver our 2025 • Confident in our focused strategy, • Acquisition, restructuring and strategy commitments on average our portfolio and our market position project related expenses of like-for
Slide 24: Questions & Answers
4 Questions & Answers
Slide 25: Upcoming events
Upcoming events 27 August Summer investor conference, Zurich: 2030 Strategy 7-8 October Investor field trip, USA 14 October Nine months sales Contact Claudia Pedretti, Head of Investor and Media Relations T +41 52 354 01 32 E claudia.pedretti@givaudan.com 2025 Half year results - Givaudan Conference
Slide 26: Disclaimer
Disclaimer No warranty and no liability: While Givaudan is making great efforts to include accurate and up-to-date information, we make no representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided on this presentation/handout and disclaim any
Slide 27: Follow us on social media
Follow us on social media Follow us on social media @givaudan
Slide 28: Closing slide
Closing slide