International Flavors & Fragrances Inc. Announces Executive Changes
Mar 23 15
International Flavors & Fragrances Inc. announced that Dr. Shekhar Mitra, President of Innopreneur LLC and Premium Consulting Partner at YourEncore Inc., is appointed to the company’s Scientific Advisory Board (SAB) effective immediately. He replaces Dr. Brian Willis, former Senior Vice President of R&D and Board member of Quest Flavors and Fragrances (UK and Netherlands), who is retiring from the SAB. Led by Dr. Ahmet Baydar, Senior Vice President, R&D, the SAB provides external perspectives on a number of facets of company's R&D program to help deliver on the company’s innovation strategy. Prior to joining YourEncore, Dr. Mitra served as Senior VP of Global Corporate R&D, Salon Professional, Prestige and New Business Creation for Procter & Gamble. In addition to his corporate responsibilities, Dr. Mitra serves on the Board of Directors of Orabush Inc. and 2 X Consumer Growth Partners. He is a member of the Board of Advisors for Vyome Biosciences and Silicon Arts Laboratories.
International Flavors & Fragrances Inc. Expanded Flavors Facility in Isando, South Africa
Mar 3 15
International Flavors & Fragrances Inc., or IFF, has expanded its flavors facility in Isando, South Africa. The expanded facility, located near Johannesburg and adjacent to IFF's existing manufacturing plant, more than doubles IFF's creative capabilities in South Africa. The new cutting-edge facility includes flavor creation, application and sensory laboratories, and a pilot plant that will cater to the company's expanded customer base in the rapidly growing Sub-Saharan Africa region. IFF's total footprint in South Africa is approximately 30,000 square meters.
International Flavors & Fragrances Inc. Presents at The Consumer Analyst Group of Europe (CAGE) Conference, Mar-17-2015 01:15 PM
Feb 20 15
International Flavors & Fragrances Inc. Presents at The Consumer Analyst Group of Europe (CAGE) Conference, Mar-17-2015 01:15 PM. Venue: Hilton London Metropole, 225 Edgware Road, London W2 1JU, United Kingdom. Speakers: Andreas Fibig, Chairman and Chief Executive Officer, Michael DeVeau, Vice President of Global Corporate Communications & Investor Relations, Richard A. O'Leary, Interim Chief Financial Officer, Vice President and Controller.
International Flavors & Fragrances Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year 2015
Feb 12 15
International Flavors & Fragrances Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company's net sales were $756,082,000 against $725,169,000 a year ago. Pretax income was $117,589,000 against $82,958,000 a year ago. Net income was $90,135,000 or $1.10 diluted per share against $61,479,000 or $0.75 diluted per share a year ago. Operating profit was $130,562,000 against $94,810,000 a year ago. Non-GAAP operating profit was $132,576,000 against $112,028,000 a year ago. Non-GAAP income before taxes was $118,880,000 against $102,114,000 a year ago. Net income was $87,309,000 or $1.07 diluted per share against $75,450,000 or $0.92 diluted per share a year ago.
For the year, the company's net sales were $3,088,533,000 against $2,952,896,000 a year ago. Pretax income was $549,061,000 against $485,210,000 a year ago. Net income was $414,543,000 or $5.06 diluted per share against $353,544,000 or $4.29 diluted per share a year ago. Operating profit was $592,321,000 against $516,339,000 a year ago. Non-GAAP operating profit was $601,260,000 against $540,423,000 a year ago. Non-GAAP income before taxes was $557,277,000 against $495,139,000 a year ago. Net income was $416,311,000 or $5.08 diluted per share against $367,952,000 or $4.46 diluted per share a year ago. Net cash provided by operating activities was $518,390,000 against $407,562,000 a year ago. Additions to property, plant and equipment was $143,182,000 against $134,157,000 a year ago. The increase in cash flow from operations was driven primarily by an increase in net income, lower amounts associated with Spanish tax payments and lower year-over-year pension contributions.
The company's sales and operating profit outlook for 2015 is consistent with long-term targets, while the company expects EPS growth in the high-single digits. For 2015, the CapEx expect to be a level between 4% and 5% of sales The company expects to see operating profit in 2015 grow in line with long-term target of 7% to 9%.