Givaudan Says 2022 Profit Rose Despite Challenges; Raises Dividend

By Giulia Petroni

Givaudan SA on Wednesday said that profit rose in the full year with solid growth across segments and geographies, and raised its annual dividend.

The Swiss flavor-and-fragrance company posted net profit of 856 million Swiss francs ($927.8 million) for the year compared to CHF821 million a year earlier.

Earnings before interest, taxes, depreciation and amortization came in at CHF1.48 billion, 0.4% down on year, while sales increased 6.5% to CHF7.12 billion from CHF6.68 billion in 2021.

"In a very challenging operating environment, driven by higher input costs and inbound supply chain disruptions, Givaudan sustained good business momentum whilst maintaining its operations and global outbound supply chain at a high level to support the growth of our customers," the company said.

Net debt stood at CHF4.53 billion at year end, compared to CHF4.39 billion in 2021.

Givaudan also said it would propose a dividend of CHF67 a share at its next annual general meeting on March 23. This would represent a 1.5% increase on year.

Write to Giulia Petroni at [e-mail]

(END) Dow Jones Newswires

January 25, 2023 01:24 ET (06:24 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.