International Flavors & Fragrances, Inc. · NYSE:IFF
International Flavors & Fragrances — CAGNY Conference 2026
35 slides from International Flavors & Fragrances's conference presentation, 2026
Slide 1: CAGNY Conference
CAGNY CONFERENCE Michael DeVeau Executive Vice President Chief Financial Officer
Slide 2: Cautionary Statement
C A U T I O N A RY S TAT E M E N T 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, estim
Slide 3: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES 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 amortiza
Slide 4: Agenda
AGENDA IFF –– Taste –– Health & Biosciences –– Scent –– Q&A
Slide 5: Strong & Highly Diversified Business
S T R O N G & H I G H LY D I V E R S I F I E D B U S I N E S S Attractive industry with high barriers to entry, steady growth & strong margin SALES & EBITDA CUSTOMERS SITES EMPLOYEES $10.9B 19.2% ~20,000 170 ~21,500 Sales EBITDA Margin Customers R&D, Creation & Application Employees and Manufacturin
Slide 6: Strategic Progress
S T R AT E G I C P R O G R E S S Established new BU led Optimized portfolio via operating model non-core divestitures — — Implemented reinvestment Strengthened balance program via R&D, sheet & improved commercial & capex leverage — — Enhanced leadership Drove productivity via internal promotions & t
Slide 7: Business Reinvestments
BUSINESS REINVESTMENTS Investing to drive long-term sustainable growth Operating Expense Capex Key Takeaways $150 ~6% $30M Million Meaningful reinvestment focused 5.5% on highest return opportunities to $100M strengthen IFF 4% — Driving productivity efforts to fund investments in R&D, innovation and
Slide 8: Financial Performance
FINANCIAL PERFORMANCE Delivering strong top and bottom-line growth Average Sales & EBITDA Growth Between 2024 to 2026E* Key Takeaways ~10% Comparable currency neutral sales growth driven by Taste, Scent and Health & Biosciences — ~4% Food Ingredients delivering ~500 bps of EBITDA margin expansion in
Slide 9: Portfolio Optimization
P O R T F O L I O O P T I M I Z AT I O N Upgrading mix, unlocking value Gross Margin Comparison Key Takeaways ~36% Shifted portfolio toward higher-value, higher-growth & higher-margin business ~29% — Divested 11 non-core assets to sharpen strategic focus & simplify portfolio — Generated >$6B in gros
Slide 10: Capital Structure
C A P I TA L S T R U C T U R E Stronger, more flexible balance sheet Net Debt to Credit-Adjusted EBITDA Key Takeaways 4.5x Significantly improved balance sheet 3.8x via cash proceeds of divestitures — 2.6x Net Debt to Credit-Adjusted EBITDA improved ~190 bps since 2023 to 2.6x — Authorized $500M sha
Slide 11: Winning with Focus
WINNING WITH FOCUS Driving value creation through disciplined execution WIN MORE I N N O V AT I O N FOCUS THE SHARE T H AT W I N S PORTFOLIO Grow with key customers Turn science into consumer Invest behind businesses that grow — preferred products faster and earn more Invest in underpenetrated marke
Slide 12: Taste Division
CAGNY CONFERENCE Yuvraj Arora President, Taste & Chief Commercial Officer TA STE DIVISION
Slide 13: Creating Joy Across Everyday Categories
C R E AT I N G J O Y A C R O S S E V E RY D AY C AT E G O R I E S Broad-based exposure in growing end-markets D AI RY BEVERAGES Yogurt, Dairy Drinks, Alcoholic, Carbonated, Creamers, Ice Cream & Functional (Energy, Frozen Desserts, Hydration), RTD* Plant-based Coffee & Tea, Nutritional, Still, Dry,
Slide 14: Well-Balanced & Growing Business
WELL-BALANCED & GROWING BUSINESS Market size ~$16 to ~17B, growing ~3 to ~4% per year** S AL E S & E B I T D A C U S TO M E R S SITES EMPLOYEES $2.5B 19% 2,800+ 67 ~6,000 Sales EBITDA Margin Customers1 R&D, Creation & Application and Manufacturing Employees SALES SPLIT BY BUSINESS B Y G E O G R AP H
Slide 15: Where We Stand Out
W H E R E W E S TA N D O U T #1 or #2 in key geographies (e.g., India, Indonesia, US) — Leadership in Modulation and Delivery Systems — AI-driven flavor customization — Applications expertise for diverse product specifications — Best-in-class tonalities for consumer preference — World-class commerci
Slide 16: Market & Consumer Trends
MARKET & CONSUMER TRENDS Health, Wellness Weight & Mood Management Premiumization Prioritizing (Energy, Convenience) Experience & Joy Considered Regulation / Clean Consumption Label
Slide 17: The Art of Great Taste
T H E A R T O F G R E AT TA S T E High-value innovation and technology-enabled TASTE DESIGN® RE-IMAGINE RE-MASTER WELLNESS MEAT Innovating via key technologies, particularly modulation Providing cleaner, more intelligent, and more RE-MASTER RE-IMAGINE enjoyable solutions — all while preserving delig
Slide 18: Driving Value Creation
D R I V I N G VA L U E C R E AT I O N Deliver market-leading growth via choices, execution & talent G E O G R AP H I C PREFERRED I N N O VAT E DIVERSIFY E X PAN S I O N C AT E G O RY TO WIN CUSTOMER PAR T N E R B AS E Gain share in high-growth Capitalize on high-growth, Drive taste preference Enhanc
Slide 19: Health & Biosciences Division
CAGNY CONFERENCE Leticia Gonçalves President, Health & Biosciences H E A LT H &BIOSCIENCES DIVISION
Slide 20: Transforming Everyday Products
T R A N S F O R M I N G E V E RY D AY P R O D U C T S Harnessing science to shape life & well-being through bio-innovations across the value chain FOOD H E ALT H AN I M AL H E ALT H HOME & G R AI N B I O S C I E N CE S SCIENCES & NUTRITION P E R S O N AL C AR E PROCESSING 1 out of 3 1 out of 3 ~25%
Slide 21: Platform Built for Profitable Growth
P L AT F O R M B U I LT F O R P R O F I TA B L E G R O W T H Market Size ~$20B growing ~2.5% per year** SALES & EBITDA CUSTOMERS SITES EMPLOYEES $2.3B 26% 7,000+ 38 ~4,000 R&D, Creation & Application Sales EBITDA Margin Customers Employees and Manufacturing SALES SPLIT BY BUSINESS BY PRODUCT BY GEOG
Slide 22: Where We Stand Out
W H E R E W E S TA N D O U T World-class biosciences From discovery to capabilities commercial-scale innovation — — Global market and #1 or #2 leader in probiotics, portfolio leadership cultures and enzymes — — Deep customer Leading talents with deep partnerships with technical knowledge differentia
Slide 23: Market & Consumer Trends
MARKET & CONSUMER TRENDS HEALTH & WELLBEING BIO ECONOMIC AMPLIFIED REVOLUTION UNCERTAINTIES Healthy aging Sustainable, regenerative Affordability — products — Lower sugar & high protein — Local sourcing diets Consumer brands — — emphasizing bio-based Performance without Natural, clean functional sol
Slide 24: Innovation Platforms
I N N O VAT I O N P L AT F O R M S Aligned with market trends & co-created with customers Enzymes for detergents Low sugar for cold and quick wash cultures for dairy High-yield ethanol yeast platform Expanding enzymes Health Solutions for 24 to Ruminants Metabolic Health
Slide 25: Designed Enzymatic Biomaterials
DESIGNED PA R T N E R S H I P S Bio-Based Market E N Z Y M AT I C Opportunity B I O M AT E R I A L S (DEB) 5% $3B SOM Chemicals Revenue Industry Transformative Innovation High-performing, biodegradable materials made from nature’s simplest sugars. In-Market Today Tomorrow Paint & Construction Textil
Slide 26: Creating Long-Term Value
C R E AT I N G L O N G - T E R M VA L U E Maximizing investments impact to grow market share & accelerate performance PAR T N E R I N N O VAT I O N G L O B AL PEOPLE OF CHOICE POWERHOUSE S C AL E AS O U R L O C AL BIGGEST R E L I AB I L I T Y AS S E T Win with customers who Lead with biosciences Cap
Slide 27: Scent Division
CAGNY CONFERENCE Ana Paula Mendonça President, Scent SCENT DIVISION
Slide 28: Making Joy with Scent
MAKING JOY WITH SCENT Delivering sensorial experiences 24 hours a day, 365 days per year MORNING DAY NIGHT EVENING
Slide 29: Robust, Broad & Expanding Business
R O B U S T, B R O A D & E X PA N D I N G B U S I N E S S Market Size ~$17B growing ~3 to ~4% per year** SALES & EBITDA CUSTOMERS SITES EMPLOYEES $2.5B 21% 1,600+ 46 ~3,200 R&D, Creation & Application Sales EBITDA Margin Customers Employees and Manufacturing SALES SPLIT BY BUSINESS BY GEOGRAPHY BY C
Slide 30: Where We Stand Out
W H E R E W E S TA N D O U T Leader in Fine Fragrances Pioneers in Health & — Wellness Leader in Scent Boosters — — Leading human and consumer insights #1 in LATAM and #2 in Asia — — Strong Commercial & Leader in Naturals Innovation Pipelines — — Strong core list access with Digital-forward multinat
Slide 31: Market & Consumer Trends
MARKET & CONSUMER TRENDS S u s t a i n a b i l i t y & Tr a n s p a r e n c y • Demand for transparent, responsibly sourced ingredients, clean-label products and trust-based brands • Do More Good Demographic & Cultural Shifts • Rise of Gen Z & Alpha, high-growth markets & new population hubs Health
Slide 32: Innovation Platforms
I N N O VAT I O N P L AT F O R M S Industry-leading capabilities in perfumery, performance & wellness Science of Perfumery Art of Performance Science of Wellness Design next-gen molecules Converge science and Generate a portfolio of scent at the crossroads of biology, creativity to deliver for uniqu
Slide 33: Capturing Value Creation
C A P T U R I N G VA L U E C R E AT I O N Clear priorities powering sustained growth & margin improvement FINE CONSUMER FRAGRANCE FRAGRANCE FRAGRANCE INGREDIENTS Build on momentum with core Prestige Drive Fabric Care via Envirocaps & Expand high-value Specialties portfolio customers by winning key s
Slide 34: Summary
S U M M A RY Transforming portfolio to higher-value businesses; More to go with potential Food Ingredients sales — Core businesses to deliver mid-single-digit sales & high-single-digit EBITDA growth* — Robust productivity to support margin & reinvestment in high-return initiatives — Stronger balance
Slide 35: IFF: Where science & creativity meet
iF f Where science & creativity meet
International Flavors & Fragrances — CAGNY Conference 2026 on 6ix