Givaudan: stock down in Zurich after annual results
(CercleFinance.com) - As the trailer in a rising SMI index today, the Givaudan share is down about 2%, after the Swiss specialist in flavours and fragrances published its annual accounts.
Over 2017, the Geneva-based group's sales reached 5.1 billion Swiss francs, up 8.3% on a reported basis. Like-for-like growth reached 4.9%, accelerating at the end of the year, as 9m growth only reached 3.5%.
However, FY EBITDA slipped 3.3% to 1.09 billion Swiss francs, while operating income was down 0.6% at 869 million Swiss francs, weighing on the group's margins. Management has mentioned a rise in raw materials price and attributes most of the decline in EBITDA to the implementation of a savings scheme entitled "Givaudan Business Solutions," which has cost 107 million Swiss francs.
Even so, note that net profit, group share rose by 11.8% to 720 million Swiss francs (78.2 Swiss francs per share), and the group will propose to raise its annual dividend by 3.6% to 58 Swiss francs (the consensus was expecting 60 Swiss francs). Finally, Givaudan has confirmed its targets through to 2020.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Over 2017, the Geneva-based group's sales reached 5.1 billion Swiss francs, up 8.3% on a reported basis. Like-for-like growth reached 4.9%, accelerating at the end of the year, as 9m growth only reached 3.5%.
However, FY EBITDA slipped 3.3% to 1.09 billion Swiss francs, while operating income was down 0.6% at 869 million Swiss francs, weighing on the group's margins. Management has mentioned a rise in raw materials price and attributes most of the decline in EBITDA to the implementation of a savings scheme entitled "Givaudan Business Solutions," which has cost 107 million Swiss francs.
Even so, note that net profit, group share rose by 11.8% to 720 million Swiss francs (78.2 Swiss francs per share), and the group will propose to raise its annual dividend by 3.6% to 58 Swiss francs (the consensus was expecting 60 Swiss francs). Finally, Givaudan has confirmed its targets through to 2020.
Copyright (c) 2018 CercleFinance.com. All rights reserved.