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Jan 29 2026, 07:34 GMT
Givaudan
FY25: Fragrance growth continues, sluggish finish for Taste & Wellbeing
DAVY VIEW
The key takeaways from Givaudan’s 2025 results include margin softness through the second half of 2025, a weaker-than-expected sales out-turn for Taste & Wellbeing in Q4 and continued strong revenue delivery across the key Fragrance platforms. Group EBITDA was a 1.7% light of consensus. On first look, with 2026 margin expected to be in line with 2025, we would envisage low to mid-single-digit downside to FY26 consensus EBITDA.
