IFF reports double-digit sales growth for second consecutive quarter

0
International Flavors and Fragrances Inc. (IFF) has published its financial results for the third quarter ended September 30, 2021.

Reported net sales for the third quarter were $ 3.07 billion, an increase of 142% over the same period a year earlier, mainly driven by additional sales related to the merger with Nutrition & Biosciences (B&W).

Segments

On a reported basis, third quarter sales for the fragrance segment were $ 580 million. The results were driven by strong double-digit growth in Fine Perfumes, Active Cosmetics and Perfumery Ingredients as well as modest growth in Consumer Perfumes.

Third quarter sales were $ 1.66 billion for the Feed segment; $ 618 million for the Health and Biosciences segment; and $ 211 million for the Pharmaceutical Solutions segment.

“We are delighted with the strong demand trends that we have seen in our business and proud to have achieved double-digit sales growth for a second consecutive quarter,” said Andreas Fibig, President and CEO of IFF. “Over a large part of our portfolio, we are developing at an accelerated pace, while continuing to successfully integrate and meet our synergy commitments. These results are indicative of our portfolio of premier products, our leading edge innovation and our position as a critical partner for our customers. “

As the global supply chain environment remains volatile, the company is confident in its opportunity to create long-term value as it executes its strategy and moves its business forward.

Share.

Leave A Reply