GVDNY Givaudan SA (PK)

By Ed Frankl

Givaudan SA said Tuesday that first-quarter sales rose as it implemented price increases to combat higher input costs.

The Swiss flavor-and-fragrance company booked sales of 1.78 billion Swiss francs ($1.91 billion) in the three-month period, a 4.6% rise on year on a like-for-like basis.

That compares with expectations of sales of CHF1.77 billion and LFL sales growth of 4.1%, according to analysts' consensus provided by the company.

The Geneva-based company said it has nevertheless been hit by a challenging environment, and is implementing price increases to fully compensate for the increases in input costs.

At its fragrance-and-beauty segment, LFL sales grew 2.7%, while its other division, tastes and wellbeing, recorded a 6.4% increase, it said.

Sales were driven by continued strong volume growth in its fine fragrances business and double-digit growth in active beauty, Givaudan said.

The sales performance was driven by Europe, where LFL sales increased 12.9%, and Latin America, where sales rose 14.4%.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

April 12, 2022 01:27 ET (05:27 GMT)

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