FIRMENICH UP 9.6% WITH STRATEGIC BREAKTHROUGHS TO ADVANCE WELLBEING NATURALLY
Geneva, Switzerland, October 10th 2018 – Firmenich announces strong results for its Fiscal Year 2018 (FY18), recording CHF 3.7 billion in net revenues, in progression of +9.6% in Swiss Francs versus prior year. Delivering solid market share gains across Perfumery and Flavors, Firmenich consolidated its Number 1 position in Fine Fragrance and Ingredients, while operating at the highest standards, as evidenced by its Gold standard ranking with EcoVadis.
“This year was marked by many innovation breakthroughs and strategic investments, setting us up for transformative growth in the future,” said Patrick Firmenich, Chairman of the Board, Firmenich. “I would like to extend my deepest appreciation to Gilbert and his team for leading Firmenich’s excellence forward for our customers and society.”
“We owe our strong performance to the trust of our customers who inspire us every day! I am very proud of how all my colleagues delivered superior creativity, innovation and value creation to enable our customers to win bigger in their markets,” said Gilbert Ghostine, CEO, Firmenich. “Taking our legacy as a responsible business into its next era, we closed the year with the launch of our purpose, “For Good, Naturally,” engaging all our partners to join us to make a bigger difference together!”
World-Class Innovation & Creativity
Advancing its purpose, as creators of positive emotions to enhance wellbeing naturally, Firmenich delivered a number of innovation breakthroughs this year. The Group continued to pioneer in white biotechnology with the launch of its third ingredient, a highly sustainable version of its iconic Z11, a warm woody note. Innovating for nutrition, Firmenich launched its latest taste modulation solution TastePRINT™, enabling to reduce 100% of added sugar naturally.
Firmenich creators were largely celebrated by the industry this year with Master Perfumers, Olivier Cresp and Tony Reichert honoured with Lifetime Achievement Awards from the Fragrance Foundation and the American Society of Perfumers respectively. Two new Master Flavorists, were also inducted into the Group’s prestigious circle of leading creators. Bipin Khara is a pioneer in taste modulation and a champion of sugar reduction, as well as Dr. Song, an expert in chicken tonalities and leader in creating natural Savory taste profiles.
Leading in Sustainability
Firmenich achieved significant progress across its Pathways to Positive sustainability strategy this year. Leading its industry, Firmenich featured on the podium within Ecovadis’ top 1% of Gold-rated companies. Fostering a culture where all its colleagues can thrive, Firmenich committed to becoming a 100% certified gender equality employer worldwide by the end of calendar year 2018. Making strong progress against its ambitious environmental goals, Firmenich recorded top CDP scores, with A-List rankings for Climate and Water management. The Group also reached 78% of renewable electricity use across its operations worldwide, with a 100% rate in Europe. Also, it launched the industry’s very first holistic fragrance sustainability measurement tool, EcoScent Compass™ including both environmental and social metrics. Recognized publically as a leading responsible business, Firmenich received the 2017 DuPont Sustainability Award, making it the first company in its industry to count three DuPont Awards: Safety (2008), Operational Excellence (2015) and Sustainability (2017). Proud signatories of the United Nations (UN) Global Compact, Firmenich was showcased at UN events across Geneva and New York, as a leading Swiss Company advancing the UN Sustainable Development Goals (SDG).
For more on this year’s many strategic breakthroughs and sustainability achievements, Firmenich invites you to discover its Firmenich Performance and Sustainability Report FY18..
Firmenich is the world’s largest privately-owned company in the perfume and taste business, founded in Geneva, Switzerland, in 1895. Driven by its purpose to create positive emotions to enhance wellbeing, naturally, Firmenich has designed many of the world’s best-known perfumes and tastes, bringing delight to over four billion consumers every day. Renowned for its world-class research and creativity, as well as its leadership in sustainability, each year, Firmenich invests 10% of its turnover in R&D to understand and share the best that nature has to offer responsibly. Firmenich had an annual turnover of 3.7 billion Swiss Francs at end June 2018.