Givaudan’s 2011 net income falls by 25.9% on strong Swiss franc
16 February 2012 06:32 [Source: ICIS news]
SINGAPORE (ICIS)--
The firm’s group sales totalled to Swfr 3.9bn, an increase of 5.2% in local currencies, but a decline of 7.6% in Swiss francs compared to the same period a year earlier, Givaudan said in a statement.
“The continued strengthening of the Swiss franc against all currencies, and in particularly the USD, as well as the increase in raw material costs, significantly impacted absolute levels of EBITDA,” it said.
Earnings before interest, tax, depreciation and amortisation (EBITDA) fell to Swfr758m, from Swfr 887m last year, the statement said.
“During 2012, the company will continue to work in close collaboration with its customers to make the necessary adaptation of its prices to reflect the sharp increase in input costs,” it said.
Givaudan expects to improve its annual free cash flow to between 14-16% of sales by the year 2015, it added.
($1 = Swfr0.92)
By: Samuel Wong
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
| ICIS news FREE TRIAL |
| Get access to breaking chemical news as it happens. |
| ICIS Global Petrochemical Index (IPEX) |
| ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index |
Related Articles
- 05 Feb 13 06:41 Swiss Givaudan 2012 net profit surges 63.1% to $452m
- 03 Aug 12 06:55 Switzerland’s Givaudan H1 net profit rises 67.5%, sales up 6%
- 11 Apr 12 07:28 Switzlerland’s Givaudan Q1 sales increases by 4.7%
- 16 Feb 12 00:16 US Georgia Gulf swings to $3.3m Q4 loss on drop in sales
- 15 Feb 12 19:01 Solvay to sell stake in plastics pipe joint venture Pipelife for €172m
- 15 Feb 12 11:13 EU, eurozone fourth-quarter 2011 GDP down by 0.3% - Eurostat
- 15 Feb 12 08:34 Italy’s Eni petchem division Q4 2011 net loss widens to €123m
- 15 Feb 12 08:21 Sweden’s Trelleborg Q4 profit up 13.7% on strong sales
- 15 Feb 12 06:46 Clariant Q4 net profit falls by 78.7% on strong Swiss franc
Latest News
- 20 Jun 13 08:21 India to fulfil all ethanol demand locally for petrol blending
- 20 Jun 13 07:58 Crude down more than $1/bbl on US Fed comments, China PMI
- 20 Jun 13 07:36 India’s IOC offers 6,000-9,000 tonnes Group I base oils
- 20 Jun 13 06:34 China’s Lanzhou Petchem shuts MEK plant on feedstock shortage
- 20 Jun 13 06:00 VIDEO - ICIS Asia Lunchtime Bulletin 20 June 2013