For its 2011 fiscal year, ended June 30, 2011, Firmenich posted sales of CHF 2.78 billion, an increase of 5.8% in local currencies, but a decline of 3.9% in Swiss Francs, our reporting currency.  Our three business divisions, Perfumery, Flavor and Ingredients, all posted sales increases across all geographic regions and all business segments.

Geographically, emerging markets posted the strongest growth, led by Asia Pacific and China and a robust sales progression in Western Europe, followed by North America, Latin America and the Middle East.

We continued to strengthen and deepen our global presence during the year, establishing our affiliate in China as a unique zone from Asia Pacific and we benefitted from one full year of activity at our new perfume ingredients production site in India and from a new flavor encapsulation plant in the U.S.A.  Finally, an important capital investment milestone was reached as we officially inaugurated its Naturals Innovation Center in the South of France. 

Firmenich launched its 6th annual independently validated Sustainability Report, reporting for the first time under the Global Reporting Initiative Guidelines.  The company gained 12 new third-party certifications in safety, quality and environmental management. 

Read more about our results in our 2011 Annual Report, Firnews 2011.