intl flavors & fragrances (IFF) Key Developments
International Flavors & Fragrances Inc Launches Amber XtremeTM
Jul 9 15
International Flavors & Fragrances Inc. announced the launch of Amber XtremeTM. This ingredient was previously a captive fragrance ingredient for the exclusive use of IFF’s perfumers and is now available for broad use within the fragrance industry. Amber Xtreme is an amber woody ingredient that enhances fragrance performance. Its performance and stability make it desirable across a spectrum of product categories including fine fragrances, beauty care, fabric care and household cleaners. Amber Xtreme provides olfactive versatility in conjunction with a range of fragrance ingredients.
International Flavors & Fragrances Inc. Presents at Deutsche Bank db Access Global Consumer Conference 2015, Jun-11-2015 08:30 AM
Jun 4 15
International Flavors & Fragrances Inc. Presents at Deutsche Bank db Access Global Consumer Conference 2015, Jun-11-2015 08:30 AM. Venue: Paris, France. Speakers: Richard A. O'Leary, Interim Chief Financial Officer, Vice President and Controller.
International Flavors & Fragrances Inc. Provides Earnings Guidance for the Second Quarter of 2015 and Fiscal 2020; Revises Earnings Guidance for the Fiscal 2015
Jun 2 15
International Flavors & Fragrances Inc. provides earnings guidance for the second quarter of 2015 and fiscal 2020. For the second quarter of 2015, the currency-neutral sales growth will be about 4% excluding the Ottens acquisition. The company expects Ottens to add approximately 1% of growth to the second quarter with a minimal impact on operating profit. Overall, operating profit, including the impact of currency, is expected to be flat to down low single digits and up 6% to 8% on a currency-neutral basis.
As the company implements the new strategy for Vision 2020, the company expects to deliver sales growth of 4% to 6%, operating profit of 7% to 9% and an EPS of 10% growth, all on a currency-neutral basis.
For 2015, the company expects currency-neutral sales to be within 4% to 6% range with another 1 to 1.5 points benefit associated with the Ottens acquisition. And from an operating profit perspective, the company expects operating profit on a currency-neutral basis, excluding Ottens, to be at the lower end of the 7% to 9% range. Over the last several years, the company has averaged between 4% and 4.5% of sales invested in capital expenditures. The company see this cycle ending with the completion of Indonesia and Turkey investments during 2015. And as such, the company expects CapEx as a percent of sales to reduce to more normal levels of 3% to 3.5% of sales over the next couple of years.
International Flavors & Fragrances Inc. Announces Executive Changes
May 29 15
International Flavors & Fragrances Inc. announced that Alison A. Cornell will join its management team as Executive Vice President and Chief Financial Officer, effective July 8, 2015. Ms. Cornell’s career spans nearly 30 years in key leadership roles where she was responsible for accelerating revenue growth, improving operating performance, streamlining processes and developing talent. She joins IFF from Covance Inc. In her role as Covance’s Corporate Senior Vice President and Chief Financial Officer, Ms. Cornell was responsible for all financial management, including financial reporting and analytics, capital allocation and strategic planning. During her 10-year Covance career, she held successively senior roles in finance, including positions in Global Financial Planning & Analysis, and Finance for Late Stage Development Services. Ms. Cornell, has most recently served as Corporate Senior Vice President and Chief Financial Officer of Covance Inc. Richard A. O’Leary, who was serving as Interim Chief Financial Officer, will continue as the Company’s Senior Vice President, Controller and Chief Accounting Officer as of the Effective Date.
International Flavors & Fragrances Inc. - Analyst/Investor Day
May 12 15
To update on the company’s vision for 2020 and refreshed strategy geared towards driving growth and value creation