Beauty and fragrance frontrunner in Givaudan 2025 financial report
Key takeaways
- Givaudan’s 2025 sales grew by 5.1% to CHF 7.5 billion (US$9.76 billion), driven by strong Fragrance & Beauty performance.
- The company is on track with its net-zero-2030 goals with 87% of its naturals portfolio sourced responsibly in 2025.
- It plans to propose a 2.9% dividend increase, marking its 25th consecutive dividend hike since its 2000 listing.
Givaudan’s 2025 annual report revealed that success was driven by strong sales growth overall and a successful performance by the fragrance and beauty division.
The company achieved sales of CHF 7.5 billion (US$9.76 billion), a 5.1% increase on a like-for-like (LFL) basis from 2024. Givaudan says it is “very pleased” with its 2025 performance, after “exceeding all of [its] financial ambitions,” according to CEO Gilles Andrier.
Fragrance and beauty sales cashed in at CHF 3.83 billion (US$4.91 billion), up 7.9% LFL, outperforming taste and well-being sales, which increased by 2.4% on a LFL basis.
Overall sales performance
The EBITDA for Fragrance & Beauty remained unchanged at CHF 985 million in 2025, the same as in 2024. However, the segment’s EBITDA rose by 4.2% when measured in Swiss francs. The EBITDA margin dropped to 25.7% in 2025, down from 26.9% in 2024. The drop mirrors the 1.2% decline in EBITDA margin from 2024 to 2025, which fell from 27.8% to 26.6%.
The double-digit growth in Active Beauty was slightly offset by a weaker performance in Fragrance Ingredients. By business unit, Fine Fragrance sales rose by 18.3% LFL, slightly below 2024’s growth of 18.4%.
Consumer Products sales grew by 6.8% LFL, compared to a solid 13.5% increase in the previous year. Sales of Fragrance Ingredients and Active Beauty fell by 1.4% LFL.
Foreign exchange rates negatively impacted gross profit with a decline from CHF 3.27 billion (US$4.258 billion) in 2024 to CHF 3.25 billion (US$4.24 billion) in 2025. However, when measured in local currency, gross profit increased by 4%.
As 2025 brought higher input costs, such as tariffs, the gross margin dropped to 43.5% from 44.1% in 2024.
In March, the ingredient company will propose a dividend of CHF 72 (US$94) per share, up 2.9% year-on-year. The move marks the company’s 25th consecutive dividend increase since its listing at the Swiss stock exchange in 2000.
Non-financial goals
Givaudan aims to have net-zero greenhouse gas emissions by 2030.
The group has previously set targets to achieve net-zero greenhouse gas (GHG) emissions across its value chain by 2045. Compared to its 2015 baseline, the company has achieved a 50% reduction in direct and indirect GHG emissions while stabilizing its scope three emissions — or indirect emissions outside its direct operations.
The group also hit its 2025 target of fully converting its electricity supply to renewable sources back in 2024, creating space to further advance its environmental, social, and governance targets.
As part of Givaudan’s diversity and inclusion progress, the company also reports that 34% of senior leadership positions were held by women in 2025.
The 2025 report also showed that 87% of the company’s natural ingredients portfolio was sourced responsibly, up from 85% in 2024. By 2030, Givaudan aims to source all its materials and services through techniques that protect people and the environment.
