Givaudan Reports Strong 2025 Half-Year Sales, EBITDA Growth Amid Cash Flow Challenges

Givaudan SA, a Swiss leader in fragrances, beauty, and flavors, reported strong financial results for the first half of 2025 despite challenging geopolitical and macroeconomic conditions. The company achieved a 3.4% increase in sales in Swiss Francs, with a 6.3% like-for-like growth, and EBITDA rose by 4.4% to CHF 945 million, maintaining a stable gross margin of 44.0%. The Fragrance & Beauty segment grew 8.6% like-for-like, driven by demand for sustainable beauty solutions, while the Taste & Wellbeing segment saw a 4.1% growth fueled by innovation in plant-based and functional foods. Although free cash flow declined to CHF -16 million due to timing in investments and tax payments, Givaudan remains on track to meet its long-term target of free cash flow exceeding 12% of sales. The company's strong operational discipline, cost management, and commitment to sustainability and innovation underpin its resilient performance and growth prospects. Additionally, Givaudan's prior year performance highlighted significant EBITDA margin expansion and R&D investments to support digital transformation and clean-label trends, reinforcing its growth strategy.