Geneva / CH. (fii) Firmenich International SA, the world’s largest privately-owned Fragrance and Taste company, announces its Full Year Results for the 52 weeks ended 30 June 2022. Financial Highlights:
- Revenue of CHF 4,723 million, up +11.1 percent
- Adjusted Ebitda of CHF 905 million, up +10.9 percent
- Adjusted Ebitda margin 19.2 percent, up +10 basis points
- Free Cash Flow of CHF 414 million, down -19.1 percent, or -5.9 percent on a comparable basis
- Ebitda to Free Cash Flow conversion ratio of 51.8 percent
- Record Revenue and Adjusted Ebitda, despite a challenging global environment for raw materials, logistics and energy costs
- Outperforming the industry in topline growth and gaining market share, underpinned by double-digit Revenue growth across both Perfumery + Ingredients and Taste + Beyond, on the back of improving customer demand
- Revenue growth across all regions, and strong momentum in our key geographies, including Europe (+18.9 percent), India (+13.1 percent), China (+9.4 percent), and North America (+5.1 percent)
- Strong cash generation, despite higher safety inventories linked to prioritizing customer service of supply in a challenging global environment
«Firmenich’s strong performance in FY 2022 is the result of our ongoing commitment to serve and innovate with our customers and a testament to the strengths of our offerings. We are now moving to a new chapter in our history, with the announced merger with DSM, and I am pleased to see that our company is entering this new phase from a position of strength,» said Patrick Firmenich, Chairman of the Board.
«Despite the ongoing challenging macro-economic environment, Firmenich has delivered another year of strong results, with double digit growth in Revenue and Adjusted Ebitda. We have demonstrated leadership and excellence in execution. As always, I want to thank our 11,000 employees who have made this possible. I look forward with excitement to the coming year, which marks the start of a new chapter for Firmenich,» said Gilbert Ghostine, CEO of Firmenich.
For additional information please read the Company’s PDF file below (103 KB):20220809-FIRMENICH-Q4-2022