After the misfortune of the pandemic, Firmenich begins its recomposition after achieving an increase in its turnover compared to last year of 10.2% in the last financial year. Last year’s budget was €811.7 million, a reduction of 5 per cent compared with the previous year.
Although Firmenich’s main line of business is fragrances, and it is best known in our sector for it, we must not forget that it is also dedicated to taste. The branch of perfumery and ingrteeth, managed to trace 4.4% in terms of income in this past year 2021-2022, and the flavors, also grew, even more than the previous, 5.2%. Profitability recovered in large part, in the second half of the year, thanks to the Fine Fragance with an increase of 32.5% fueled by a strong demand from customers. In the second half, the leading company in the perfumery sector, reported that revenue growth was 10%.
As presented in the Performance Report, during fiscal year 2022, Firmenich has experienced an increase in all regions, but has also gained a greater presence in Europe (18.9%), India (13.1%), China (9.4%) and North America (5.1%).
As for cash flow, the Swiss perfume giant has reported that it has 51.8%, which decreased by 5.9% compared to last year.
Once again, they stressed the importance of being a responsible company and that with the intention of strengthening the commitment to sustainability, in March 2022, a Governance and Sustainability Committee was created in the Board of Directors. The group hopes to achieve carbon neutrality and a positive carbon impact by 2025 thereafter, with the goal of having reduced its carbon emissions to zero by 2030.