Givaudan reported +6% (organic: +2%) higher sales (to CHF2,483m) but the gross profit margin declined 80bp to 45.6% in H1 due to the newly-acquired businesses. EBITDA was down 6% to CHF597m as, in the previous year’s period, the company booked a CHF55m gain from changes in plan assets. Net income attributable to shareholders came in at CHF384m (CHF368m). Operating CF (CHF269m after CHF237m) primarily improved due to lower NWC outflow (CHF-210m after CHF-242m) despite higher inventories.
21 Jul 2017
Cushioned profitability
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Cushioned profitability
SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF (GIN:LON) | 0 0 1.1% | Mkt Cap: 1,502m
- Published:
21 Jul 2017 -
Author:
Martin Schnee -
Pages:
3
Givaudan reported +6% (organic: +2%) higher sales (to CHF2,483m) but the gross profit margin declined 80bp to 45.6% in H1 due to the newly-acquired businesses. EBITDA was down 6% to CHF597m as, in the previous year’s period, the company booked a CHF55m gain from changes in plan assets. Net income attributable to shareholders came in at CHF384m (CHF368m). Operating CF (CHF269m after CHF237m) primarily improved due to lower NWC outflow (CHF-210m after CHF-242m) despite higher inventories.