Givaudan Group full year sales were CHF4,404 million (US$4,782.30 million), an increase of 3.7% on a like-for-like basis and 0.8% in Swiss francs when compared to 2013.
Total net investments in property, plant and equipment were CHF110 million, down from CHF123 million incurred in 2013.
During 2014 the group continued its investments to support growth in developing markets, most notably a new flavors savory facility in Nantong, China and a fragrance creative center and compounding facility in Singapore.
In addition, the Group received cash of CHF58 million as a result of the sale of land at its Dübendorf location in Switzerland.
Fragrance Division sales were CHF2,108 million, an increase of 3.6% on a like-for-like basis and 1.2% in Swiss francs.
Flavor Division sales were CHF2,296 million in 2014, an increase of 3.7% on a like-for-like basis and 0.4% in Swiss francs.
All major business segments grew favorably with beverages, dairy and snacks leading the way.
The growth pillars of health and wellness, developing markets and targeted customers contributed to the overall performance.
The strong double-digit growth in Latin America was driven by improved taste solutions involving sweetness, salt and masking capabilities.
Sales in Asia Pacific grew 3.9% on a like-for-like basis.
The developing markets achieved mid-single-digit growth, led by China, India, and the Philippines.
The mature markets increased slightly reflecting growth in Oceania and Korea offset by slow economic conditions in Japan.
New wins and growth of existing business fuelled the expansion across all segments with gains coming from beverages, dairy, and snacks.
The region delivered growth in the divisional strategic growth pillars, with strong emphasis on health and wellness sales.
Europe, Africa and Middle East
Sales increased 2.3% on a like-for-like basis driven mainly by growth in the developing markets of Africa, Middle East and Poland.
The mature markets were flat with gains in Benelux, Northern Europe and Italy offset by declines in UK, Ireland and Germany.
Snacks, beverages and dairy provided good year-over-year growth whilst sales for confectionary and savory were flat.
The pillars experienced good growth with strong influence coming from developing markets, food service and the health and wellness areas.
North, Latin America
Sales increased 2.3% on a like-for-like basis in North America.
Growth in beverage, dairy and snacks was driven by new wins and volume increase from existing business.
The strategic pillars growth was favorably influenced by increases in targeted customers and Health and Wellness solutions.
Sales in Latin America improved 10.7% on a like-for-like basis with strong growth coming from Argentina and Brazil.
New win revenue and expansion of existing business contributed to the growth.
All major business segments improved with growth in beverages, dairy and savory.
Growth in the region was led by market share gains with targeted customers as well as delivery of improved taste solutions in the health and wellness platform.
