Givaudan, the Swiss fragrance and flavor maker, posted higher Q1 sales on Thursday, March 10, fueled by fine fragrances, and plans to increase prices to offset higher costs such as customs duties.
The group, which designs fragrances for major global perfume brands, says it is “highly likely to exceed the upper end” of its 2021-2025 growth target.
For the first quarter, Givaudan reported sales of CHF 1.97 billion (EUR 2.1 billion), up 8.5% compared to the same period a year earlier. Excluding currency effects and acquisitions, the increase was 7.4%, the company said in a press release.
The group’s Perfumes & Beauty division generated revenue of CHF 1 billion, up 12.2% when converted into Swiss francs, and 9.8% excluding currency effects and acquisitions.
Sales in fine perfumery increased by 16.7% during the first quarter.
The group’s Taste & Wellbeing division recorded a 5% increase in sales to 968 million francs.
Price increases in 2025
Givaudan CEO Gilles Andrier described the start of the year as “solid.” However, he added the group will have to “continue to ensure a high level of service and agility in navigating the challenges which the broader macroeconomic environment may present,” in particular with the “ongoing uncertainty in relation to global trade tariffs.”
Given the increase in the cost of raw materials and energy in 2025, including tariff rises, Givaudan said it intends to implement price increases “in collaboration with its customers.”
