Givaudan Q1 Sales Drop 5.2%, LFL Sales Up 2.8%; Sees LFL Sales Growth Ahead
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Givaudan AG reported a 5.2% drop in Q1 sales, primarily due to weak performance in its Taste & Wellbeing segment. However, like-for-like (LFL) sales grew by 2.8%. The company aims for 4-6% average LFL sales growth and over 12% average free cash flow by 2030. Fragrance & Beauty sales decreased by 0.6% on a reported basis but increased by 5.9% LFL. Taste & Wellbeing sales fell by 10% reported and 0.4% LFL. Regional sales varied, with Asia Pacific up 4.1% LFL, while Europe saw a decline of 0.4%.
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