(News Bulletin 247) – The Givaudan share (+0.4%) is moving without a clear trend on Thursday on the Zurich Stock Exchange, investors struggling to find a direction after the lackluster half-year results published by the Swiss manufacturer of flavors and perfumes.

The Geneva group announced this morning that it posted a lower Ebitda, at 803 million Swiss francs over the first six months of the year against 820 million a year earlier.

For comparison, the consensus expected a result of 781 million.

Its operating margin also exceeded expectations, at 22.7% compared with 22.5% in 2022, while its net profit increased by 9% in local currencies, to 449 million Swiss francs.

Its turnover stood at 3.5 billion francs, showing organic growth of 2.4%, however lower than market forecasts.

Sales of fragrances and perfumes increased by 6.4% on a like-for-like basis, but those of the flavors and well-being division fell by 0.9%.

Givaudan also confirmed its medium and long-term objectives, which notably include organic sales growth of 4% to 5% on average.

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