For its 2012 fiscal year, ended June 30, 2012, Firmenich posted sales of CHF 2.64 billion, an increase of 1.1% in local currencies, with a corresponding decline of 5.2% in Swiss Francs, our reporting currency. The Company recorded increases in all geographic regions except Western Europe.
During the year, Firmenich officially inaugurated its new state-of-the-art Research and Development (R&D) facility in Shanghai, China, which will focus on ingredient discovery and delivery technologies. In addition, as part of its Flavor Division strategy to maintain its leadership in encapsulated products, the Company began construction of a new Durarome® plant in Indonesia.
Assuring its future growth, the Firmenich Group continued to invest approximately 10 percent of its annual turnover into innovation, including new ingredients which raise the value of fragrance and flavor creations and the continuous improvement of production processes which increase performance.
Read more about our results in our 2012 Annual Report, Firnews 2012.