International Flavors & Fragrances, Inc. · NYSE:IFF
International Flavors & Fragrances — Q4 2025 Earnings Presentation
26 slides from International Flavors & Fragrances's earnings presentation, Feb 12, 2026
Slide 1: Fourth Quarter & Full Year 2025 Earnings Conference Call
Fourth Quarter & Full Year 2025 Earnings Conference Call February 12, 2026
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT This presentation includes statements that are not historical facts and 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, estimates and expe
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 VP, Investor Relations 4
Slide 5: Agenda
AGENDA 2025 Performance ____ 2026 Outlook ____ Q&A 5
Slide 6: FY 2025 Strategic Progress
FY 2025 STRATEGIC PROGRESS Strengthened balance sheet and improved net debt to credit adjusted EBITDA1 to ~2.6x, supporting new disciplined capital allocation strategy Optimized portfolio via divestitures (Pharma, Nitrocellulose, Rene Laurent); Announced agreement to sell Soy Crush; Launched sale pr
Slide 7: FY 2025 Financial Highlights
FY 2025 FINANCIAL HIGHLIGHTS 7% Achieved solid sales growth against a strong 6% year ago comparable; 2-year average growth was strong at 4% ____ Sales growth led by mid-single digit growth in Taste and low- single digit performances in Health & Biosciences and Scent 2% ____ Food Ingredients with 150
Slide 8: Q4 2025 Consolidated Results
Q4 2025 CONSOLIDATED RESULTS Comparable Reported Currency In millions / % of sales 2024 2025 Neutral Comparable currency neutral sales1 2 grew % Δ 1% against a solid 6% year ago comparable Ad j u s t e d % Δ ¹ ² ____ Performance led by mid-single digit growth Revenue $2,771 $2,589 (7)% 1% in Health
Slide 9: Q4 2025 Segment Performance
Q4 2025 SEGMENT PERFORMANCE NET ADJUSTED SALES O P E R AT I N G EBITDA¹ SEGMENT (Comparable (Comparable currency HIGHLIGHTS currency neutral neutral adjusted vs. vs. 4Q 24) ¹ ² 4Q 24)¹ ² $588 million $94 million • Growth in all regions led by high-single-digit performance in NOAM Taste +2% +17% • Pr
Slide 10: FY 2025 Cash Flow & Leverage
FY 2025 CASH FLOW & LEVERAGE Cash Flow Leverage FY cash flow from operations totaled $850 million Cash and cash equivalents finished at $590 million ____ ____ Capex on FY basis was $594 million or ~5.5% of sales Gross debt totaled $6,026 million ____ ____ FY free cash flow1 of $256 million Trailing
Slide 11: FY 2026 Consolidated Outlook
FY 2026 CONSOLIDATED OUTLOOK FY 2026¹ In millions or as % of sales GUIDANCE Revenue $10.5B – $10.8B Targeting continued sales and EBITDA growth with margin Comparable currency neutral 1 Δ 1% to 4% expansion, while navigating a dynamic operating environment ____ FX impact ~1% Growth expected to be dr
Slide 12: FY 2026 Key Priorities
FY 2026 KEY PRIORITIES Deliver growth with margin expansion & improved cash flow Continue to strengthen innovation & commercial pipeline, with investments in enzyme capacity, naturals & biotechnology Enhance competitiveness in Health via commercial execution, and in Fragrance Ingredients (Specialtie
Slide 13: Summary
SUMMARY Strengthened our foundation, improving the balance sheet and enabling a disciplined, value-focused capital allocation strategy Reshaped the portfolio, accelerating our transition toward higher-growth, higher-return businesses through divestitures Invested for the future, strengthening innova
Slide 14: IFF: Where science & creativity meet
iF f Where science & creativity meet
Slide 15: Appendix: Reconciliation of GAAP to Non-GAAP Financial Measures
APPENDIX R E C O N C I L I AT I O N O F G A A P TO NON-GAAP FINANCIAL MEASURES
Slide 16: GAAP to Non-GAAP Reconciliation
International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be vi
Slide 17: GAAP to Non-GAAP Reconciliation
International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be vi
Slide 18: Reconciliation footnotes
(a) For 2025, represents costs related to the IFF Productivity Program including severance, fixed asset write-downs and site closure expenses, net of the gain on sale of fixed assets previously written down. For 2024, represents initial costs in connection with the IFF Productivity Program, primaril
Slide 19: GAAP to Non-GAAP Reconciliation
International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be vi
Slide 20: GAAP to Non-GAAP Reconciliation
International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not be vi
Slide 21: Reconciliation footnotes
(a) For 2025, represents costs related to the IFF Productivity Program including severance, fixed asset write-downs and site closure expenses, net of the gain on sale of fixed assets previously written down. For 2024, represents initial costs in connection with the IFF Productivity Program, primaril
Slide 22: Debt Covenants
International Flavors & Fragrances Inc. Debt Covenants (Amounts in millions) (Unaudited) The following information and schedules provide reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedules are not intended as, and should not
Slide 23: Comparable Reportable Segment Performance
International Flavors & Fragrances Inc. Comparable Reportable Segment Performance (Amounts in millions) (Unaudited) The following information and schedule provides reconciliation information between reported GAAP amounts and non-GAAP certain adjusted amounts. This information and schedule is not int
Slide 24: Segment footnotes
______________________ (1) Taste sales and segment adjusted operating EBITDA information for the three months and year-ended December 31, 2024 exclude the results of the Flavors & Essences UK business and Rene Laurent business in France that were divested to present fully comparable scenarios. The d
Slide 25: Comparable Foreign Exchange Impact (Q4)
International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation Comparable Foreign Exchange Impact (Unaudited) Segment Adjusted Segment Adjusted Q4 Taste Sales Operating EBITDA Operating EBITDA Margin % Change - Reported 2% 8% 1% Portfolio Impact 1% 7% 1% % Change - Comparable 3% 15% 2% Curr
Slide 26: Comparable Foreign Exchange Impact (YTD)
International Flavors & Fragrances Inc. GAAP to Non-GAAP Reconciliation Comparable Foreign Exchange Impact (Unaudited) Segment Adjusted Segment Adjusted YTD Taste Sales Operating EBITDA Operating EBITDA Margin % Change - Reported 2% 4% 0% Portfolio Impact 1% 3% 0% % Change - Comparable 3% 7% 1% Curr
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