FIRMENICH REPORTS 4.4% GROWTH WITH INNOVATION AND SUSTAINABILITY BREAKTHROUGHS
Geneva, Switzerland, October 5th 2017 – Firmenich is pleased to announce strong results for its Fiscal Year 2017, as it recorded CHF 3.34 billion in net sales, in progression of +4.4% in Swiss Francs. With all its Business Units posting steady growth, the Group further consolidated its number one position in Fine Fragrance and Ingredients.
“This has been a year of strategic breakthroughs for Firmenich, driven by our cutting-edge innovation, award-winning creation and reinforced leadership in sustainability”, said Patrick Firmenich, Chairman of the Board, Firmenich. “I would like to extend my deepest thanks to Gilbert and his team for driving Firmenich’s excellence forward for our customers and society.”
“We owe our strong performance to the trust of our customers who inspire our teams to push our leading innovation and creativity forward every day”, said Gilbert Ghostine, CEO, Firmenich. “Building on our commitment to the UN SDGs, I am proud of how we put our expertise to work to address key societal challenges this year, such as improving access to sanitation and nutrition, while reinforcing our excellence in naturals and environmental management”.
Firmly Anchored in Geneva with Expanded International Reach
Firmenich reinforced its commitment to Geneva, Switzerland this year, as it announced over CHF 160 million (m) investments. The Group inaugurated its new cutting-edge Perfumery Plant in November, representing a CHF 60m and announced its intention to invest over CHF100m to create a campus of excellence in Geneva with a world-class research facility by 2020. In parallel, to support its international growth, Firmenich opened new facilities in Nigeria, Korea, Mexico, Singapore and the United States this year.
Leading Innovation and Creativity
To solve today’s sanitation crisis, Firmenich successfully launched breakthrough malodor-control technologies in partnership with the Bill & Melinda Gates Foundation, to make safe toilets save lives for populations in need. Making heathy taste delicious, Firmenich is committed to being a catalyst for responsible nutrition. Advancing its leading Taste Modulation technologies to reduce sugar, salt and fat without compromising on taste, the Group’s sweetness-enhancing solutions removed approximately 100’000 Metric Tons of sugar, equivalent to 500 billion calories, from food and beverages this year. The Group’s world-class creativity was broadly recognized by the industry, such as, with Harry Fremont receiving the Fragrance Foundation’s Lifetime Achievement Award for his iconic body of work.
Excellence in Naturals
Firmenich took a majority equity stake in Essex Laboratories, a world leader in natural mint, based in Oregon, United States, to offer unique, tailor-made, sustainable and traceable natural mint solutions. Recognizing the Group’s over 40 years of responsible business growth in Indonesia, Firmenich was honoured to receive the country’s Presidential Award for its responsible sourcing of Patchouli, enhancing the sustainable livelihoods of farming communities.
Leadership in Environmental Management
Firmenich advanced its leadership in environmental management this year, with continued industry-leading rankings from EcoVadis and CDP. In particular, Firmenich was rated the best company in environmental management by CDP across the Switzerland, Germany and Austria region. Confirming the Group’s leadership in advancing the UN SDGs, Firmenich was distinguished with the Better Society Network’s Ethical Business Award 2017. Also Firmenich’s Global Head of Sustainability, Dr. Bérangère Magarinos Ruchat was recognized by WBCSD’s with its Leading Women Award.
For more on this year’s many strategic achievements and sustainability breakthroughs, Firmenich invites you to discover this year’s Firmenich Performance and Sustainability Report FY17.
Firmenich is the world’s largest privately-owned company in the fragrance and flavor business. Founded in Geneva, Switzerland, in 1895, it has created many of the world’s best-known perfumes and flavors that billions of consumers enjoy each day. Its passion for smell and taste is at the heart of its success. It is renowned for its world-class research and creativity, as well as its thought leadership in sustainability and exceptional understanding of consumer trends. Each year, it invests 10% of its turnover in R&D, reflecting its continuous desire to understand, share and sublimate the best that nature has to offer. Firmenich had an annual turnover of 3.34 billion Swiss Francs at end June 2017.