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Givaudan Warns of Price Hikes for Flavor, Fragrance Products

  • Swiss company expects inflationary pressures also in 2022
  • CEO Andrier says surging online sales aided perfume division
Updated on

Givaudan SA will pass on higher raw-material costs to its customers after inflation weighed on the Swiss flavors and fragrances maker’s earnings.

While Givaudan grew sales 7% in 2021 on a like-for-like basis, its operating profit missed analyst estimates amid inflationary pressures. Givaudan expects raw-material costs to climb another 9% this year and will therefore raise prices in collaboration with its customers, it said Friday.