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Flavor & Fragrance Top Companies - Preliminary Sales Estimates for Years 2013-2017 updated as of August 22, 2018
Sensient Flavors & Fragrances Group 1st Half 2019 Sales - Milwaukee, July 19, 2019 - The Flavors & Fragrances Group reported second quarter revenue of $180.1 million compared to $198.7 million reported in the comparable period last year (-9.3%). Higher revenue in the finished flavors and extracts product lines was offset by lower revenue in certain flavor ingredient product lines. Segment operating income was $20.1 million in the second quarter compared to $24.0 million reported in the second quarter of 2018. The Group's lower profit was primarily a result of the lower segment sales, lower production volumes, and higher raw material costs. These items were partially offset by the Natural Ingredients business, which reported higher profit compared to the comparable period last year. Foreign currency translation decreased revenue by approximately 2% with minimal impact on operating income in the quarter.
Givaudan Half Year 2019 Sales - 18 July 2019 - Givaudan Group sales for the first six months of the year were CHF 3,094 million, an increase of 6.3% on a like-for-like basis and 15.7% in Swiss francs.
Fragrance Division sales were CHF 1,361 million, an increase of 8.6% on a like-for-like basis and 11.3% in Swiss francs.
Flavour Division sales were CHF 1,733 million, an increase of 4.4% on a like-for-like basis and 19.4% in Swiss francs.
Givaudan continued the year with good business momentum and with the project pipeline and win rates being sustained at a high level. This excellent growth was achieved across all product segments and geographies, with our key strategic focus areas of Naturals, Health and well-being, Active Beauty, Integrated Solutions and local and regional customers delivering strong growth, complemented by the recent acquisitions.
Operating Income - The operating income was stable at CHF 491 million, compared to CHF 489 million in 2018. When measured in local currency terms, the operating income increased by 2.3%. The operating margin decreased to 15.9% in 2019 from 18.3% in 2018.
Financial Performance - Financing costs were CHF 36 million in the first half of 2019, versus CHF 23 million for the same period in 2018, largely related to the increase in net debt of the Group in connection with the Naturex acquisition. Other financial expense, net of income, was CHF 18 million in 2019 versus CHF 35 million in 2018. As a reminder, in 2018 the Group incurred increased foreign exchange losses in markets where currencies could not be hedged. The interim period income tax expense as a percentage of income before taxes was 13% in 2019, compared with 14% for the same period in 2018.
Net Income - The net income for the first six months of 2019 was CHF 380 million compared to CHF 371 million in 2018, an increase of 2.3%, resulting in a net profit margin of 12.3% versus 13.9% in 2018. Basic earnings per share were CHF 41.24 versus CHF 40.26 for the same period in 2018.
Financial Position - Givaudan's financial position remained solid at the end of June 2019. Net debt at June 2019 was CHF 3,710 million, up from CHF 2,847 million at December 2018, with the increase driven by the adoption of IFRS 164, as well as the payment of the annual dividend of CHF 552 million in the first quarter of 2019. The leverage ratio6 was 49% compared to 41% at the end of 2018.
Givaudan Business Solutions - The Company is now well advanced in the implementation of Givaudan Business Solutions (GBS), a global organisational unit providing best-in-class internal processes and services. The progressive implementation of GBS is fully in line with the plan and the new organisation continues to deliver the foreseen financial benefits. In the first six months of 2019, the Group incurred costs of CHF 19 million in relation to the implementation of the Givaudan Business Solutions organisation, compared with CHF 25 million in the same period in 2018.
Naturex - Givaudan completed the acquisition of Naturex in September 2018 and has consolidated the financial results of Naturex from 1 September 2018. Naturex is an international leader in plant extraction and the development of natural ingredients and solutions for the food, health and beauty sectors. In the first six months of 2019, Naturex contributed CHF 235 million of sales, CHF 229 million in the Flavour Division and CHF 6 million in the Fragrance Division. The integration of Naturex into Givaudan is progressing as planned and the business of Naturex has returned to growth in the first six months of 2019, compared to the same period in 2018. Givaudan aims to achieve sales growth of the Naturex portfolio of 10% per annum from 2021 and at the same time return the profitability and other key financial indicators of the combined business to pre-acquisition levels by 2021 for the Flavour Division.
Symrise 1st Qtr 2019 Sales - 30 April, 2019 - The Symrise Group remains on track for strong growth in the fiscal year 2019 with a high sales increase by 9.3 % to � 848.8 million (Q1 2018: � 776.9 million) in the first quarter. All segments benefited from good demand. Organic sales growth in the first quarter was up 8.2 %.
The Scent & Care segment achieved a very good sales increase of 10.7 % to � 367.3 million (Q1 2018: � 331.8 million). Organic sales growth was 9.1 %. The Fragrance division saw a significant increase in sales, driven primarily by the Fine Fragrances application area and the new area of Consumer Fragrances, which combines Beauty Care and Home Care applications. In both application areas, sales were up by double-digit percentages, resulting from a combination of strong demand and price increases. The Oral Care business unit achieved high single-digit organic growth, especially in the EAME region and in North America. Sales growth was also very strong in the Cosmetic Ingredients division, above all in the North America and Asia/Pacific regions. The Aroma Molecules division benefited from robust demand for fragrance ingredients and menthol, especially in the EAME and Asia/Pacific regions.
In the Flavor segment – the business activities with flavors for foods and beverages – sales increased by 8.3 % to � 315.6 million (Q1 2018: � 291.2 million). All application areas and regions had increases in sales volumes. Adjusted for exchange rate effects, organic growth amounted to 6.7 %. In EAME, applications for beverages and savory products delivered the biggest increases, especially in the national markets of Germany, Russia, Ireland and the UK. The Asia/Pacific region achieved with applications for beverages and savory products high single-digit or even double-digit percentage growth rates. The trends were especially pleasing in Indonesia, Thailand and India. Sales growth in the Beverage business unit was particularly healthy in North America, mainly as a result of new business with global and regional customers. Business in Latin America also showed dynamic growth, with double-digit percentage gains in all application areas. Demand for beverages was particularly strong in the national markets of Brazil and Mexico.
The Nutrition segment, which includes the Diana division with Food, Pet Food applications, as well as Probiotics, achieved a 7.9 % increase in sales to � 165.9 million (Q1 2018: � 153.8 million). In local currency the organic growth was even higher, at 8.8 %.The Nutrition segment, which includes the Diana division with Food, Pet Food applications, as well as Probiotics, achieved a 7.9 % increase in sales to � 165.9 million (Q1 2018: � 153.8 million). In local currency the organic growth was even higher, at 8.8 %.
Sensient Flavors & Fragrances Group 1st Qtr 2019 Sales - May 1, 2019 - The Flavors & Fragrances Group reported first quarter revenue of $183.6 million compared to $188.3 million reported in the comparable period last year. Higher revenue in the flavors and fragrances product lines was offset by lower revenue in certain ingredient product lines. Segment operating income was $23.1 million in the first quarter compared to $25.3 million reported in the first quarter of 2018. The Group's lower profit was primarily a result of lower sales and production volumes in certain ingredient product lines and higher input costs. These items were partially offset by the Natural Ingredients business, which reported higher profits compared to the comparable period last year. Foreign currency translation decreased revenue by approximately 2% and decreased operating income by approximately 1% in the quarter.
IFF 1st Qtr 2019 Sales - May 6, 2019 - Reported net sales for the first quarter totaled $1.3 billion, an increase of 39% from $931.0 million in 2018, including the contribution of sales related to Frutarom. On a combined basis, currency neutral sales improved 3%, excluding the contribution of acquisitions and divested businesses, with growth across all segments. Reported earnings per share (EPS) for the first quarter was $0.96 per diluted share versus $1.63 per diluted share reported in 2018. Excluding those items that affect comparability, adjusted EPS ex amortization was $1.57 per diluted share in 2019 versus $1.78 in the year-ago period as adjusted operating profit growth was more than offset by higher interest expense and shares outstanding, both related to the Frutarom acquisition.
Scent Business Unit - On a reported basis, sales increased 1%, or $6.4 million, to $488.4 million. Currency neutral sales improved 4%, with growth in nearly all regions and categories. Performance was strongest in Fine Fragrances, increasing double-digits, led by strong new win performance. Consumer Fragrances grew mid-single digits, with the strongest growth in Home Care and Fabric Care. Fragrance Ingredients was challenged as price increases related to higher raw material costs were more than offset by volume declines. Scent segment profit decreased 8% on a reported and 3% on a currency neutral basis as the benefits from cost and productivity initiatives were more than offset by unfavorable price to input costs.
Taste Business Unit - On a reported basis, sales decreased 1%, or $4.4 million, to $444.6 million. Currency neutral sales improved 2%, with growth in three of four regions. Performance in the quarter was driven by mid-single digit growth in Greater Asia, where India and Indonesia grew double-digits, and EAME, led by strong growth in Africa and the Middle East as well as Western Europe. In North America, year-over-year improvements continue to be led by TastePoint. Latin America declined primarily due to volumes with multinational customers. Taste segment profit decreased 3% on a reported basis and 1% on a currency neutral basis, as volume growth and the benefits from productivity initiatives were more than offset by unfavorable price to raw material costs and mix.
Frutarom Business Unit - On a reported basis, sales were $364.4 million. On a standalone basis, currency neutral sales grew 3%, excluding the contribution of acquisitions and divested businesses. Performance was driven by strong growth in Taste, led by double-digit gains in North America, and solid increases in Savory Solutions, which more than offset declines in F&F ingredients and Natural Colors. Segment profit contributed $29 million in the first quarter; $68 million excluding amortization. Margin performance continued to be driven by disciplined cost management.
ChemCom appoints new CEO to intensify international development, April 30, 2019 - "We welcome Jean-François Pollet and wish him lots of success! ", that's the way Christian Van Osselaer greets his successor. This is a new step in ChemCom's life.
Givaudan 1st Qtr 2019 Sales - 09 Apr 2019 - In the first three months of 2019 Givaudan recorded sales of CHF 1,525 million, an increase of 6.3% on a like-for-like basis1, and 16.6% in Swiss francs compared to the previous year. Fragrance Division sales were CHF 677 million, an increase of 8.7% on a like-for-like basis and an increase of 12.1% in Swiss Francs. Flavour Division sales were CHF 848 million, an increase of 4.3% on a like-for-like basis and an increase of 20.4% in Swiss Francs. Givaudan started the year with good business momentum and with the project pipeline and win rates sustained at a high level. This good growth was achieved across all product segments and geographies, with our key strategic focus areas of Naturals, Health and well-being, Active Beauty, Integrated solutions and local and regional customers delivering strong growth, supported by the recent acquisitions. The Company continues to implement price increases in collaboration with its customers to fully compensate for the increases in input costs.
V. Mane Fils Reports Full Year 2018 Financial Results - April 4, 2019 - Mane achieved group consolidated sales of � 1,253.2 million (+8.4%) in 2018 vs � 1,155.8 million in 2017, which translates to USD $1,479.0 million (+13.2% for the year 2018 vs USD $1,306.9 in 2017). The conversion EUR/USD is based on an average rate in 2018 of 1.1801 USD/EUR (against 1.1307 USD/EUR in 2017) - Personal communication.
Huabao Group Year 2018 Sales - Effective in 2018, Huabao's Board resolved to change the financial year end date of the Company from 31 March to 31 December to align the Company's financial year end date with that of the Group's PRC subsidiaries and to facilitate the preparation of the consolidated financial statements of the Group. This is the first financial year after the change, and the financial statements presented for current financial reporting period covered the nine-month period from 1 April to 31 December 2018 ("the Current Reporting Period") with the comparative figures covered the twelve-month period from 1 April 2017 to 31 March 2018 ("the Financial Year 2017/18"). The new financial years subsequent to the change would cover the full year from 1 January to 31 December of the same year. To provide a clear picture of the Group's operating results during the new financial year, the Group also presents the unaudited financial results for the twelve-month period from 1 January to 31 December 2018 ("the Period Under Review") and the twelve-month period from 1 January to 31 December 2017 ("the Corresponding Period Last Year") on a voluntary basis for a year-on-year comparison. As certain tobacco related products are not Flavor or Fragrance related, they are so stated in this report and are excluded here. Flavor & Fragrance sales for the 12 months of 2018 were 3,027 million RMB versus about 2,723 million RMB in 2018.
Symrise Full Year 2018 Sales - 3 March, 2019 - Symrise AG sales increased by 5.3 % to � 3,154 million (2017: � 2,996 million). On organic basis, sales growth even amounted to 8.8 %, exceeding the increased guidance issued in late fall. This outstanding performance was carried by all segments and regions. Despite targeted investments in increased capacity at locations in China and the USA and negative effects from exchange rates and raw material costs, Symrise retained its earnings power. The Group achieved earnings before interest, taxes, depreciation and amortization (EBITDA) of � 631 million (2017: � 630 million). With an EBITDA margin of 20.0 %, profitability remained healthy and within the target corridor of 19–22 %. Symrise experienced strong demand across all segments and regions in 2018 and increased its sales to � 3,154 million (2017: � 2,996 million). The Group achieved strong organic growth of 8.8 %, exceeding the increased guidance announced in November, which indicated growth of over 8 %. In reporting currency, taking into account portfolio effects from the acquisitions of Cobell and Citratus and exchange rate effects, Group sales were up 5.3 % in the reporting period. Symrise experienced unfavorable exchange rate effects especially through the strong Euro in relation to the US-Dollar. Symrise again grew significantly faster than the relevant market for fragrances and flavors, where growth in 2018 was in the 3–4% range. Scent & Care increased its sales to � 1,324 million and achieved very strong organic growth of 8.9 % (2017: � 1,263 million). In reporting currency, taking currency effects and the Citratus acquisition into account, the segment posted 4.8 % growth. The Cosmetic Ingredients division developed particularly dynamically with double-digit organic percentage growth. Strong impulses came in particular from the national markets of China, Brazil and Japan. The Aroma Molecules and Fragrances division also performed well. Demand was particularly strong for applications with menthol, for fine fragrances and personal care products. The Flavor Segment experienced strong organic growth of 9.5 %, with sales increasing to � 1,191 million (2017: � 1,102 million). Taking currency effects into account and the portfolio effect from the Cobell acquisition, sales in the segment grew by 8.1 % in reporting currency. All regions and application areas contributed to this positive development. Flavor benefited in particular from strong demand in the EAME region, which achieved impressive double-digit growth. Growth was driven furthermore by applications for sweets and beverage products. Nutrition increased organic sales in the past fiscal year by 7.4% to � 639 million (2017: � 631 million). In the reporting currency, including portfolio and currency effects, the segment grew by 1.2 %. The strongest impetus came from the Pet Food application area. The Food application area also performed well with double-digit growth.
ChemCom and Symrise AG develop new products to counteract body malodors - February 18, 2019 - ChemCom and Symrise announce their partnership for the development of new formulations to counteract some unpleasant body odors. Their breakthrough approach is based on ChemCom's biological nose and Symrise expertise. A unique technology opening a new era of fragrances based on odor blockers. Based in Brussels, ChemCom was the first biotech company in the world to address human Olfactory Receptors (hORs). ChemCom's biological nose is able to mimic human olfaction. The company has developed molecules that are able to block or unblock olfactory receptors. With this technology, no need to use existing masking or covering formulations to counteract malodors. As one of the leading global suppliers in the flavors and fragrances market, Symrise is always looking to delight customers with innovative products. Click Here for the full press release.
Sensient Flavors & Fragrances Group Full Year 2018 Sales - Milwaukee, February 15, 2019 - The Flavors & Fragrances Group reported fourth quarter revenue of $175.5 million compared to $178.5 million reported in the comparable period last year. Segment operating income was $22.3 million in the fourth quarter compared to $24.1 million reported in the fourth quarter of 2017. The Group's post-restructuring sales have stabilized and pricing and cost pressures in the natural ingredients business have subsided. The Group's lower profit was primarily a result of overall soft market demand in the quarter in certain product categories. The Fragrances, BioNutrients, and European Sweet & Beverage businesses delivered solid revenue growth in the quarter. Foreign currency translation decreased revenue and operating income by approximately 1% in the quarter. For the full year of 2018 and 2017, the Flavors & Fragrances Group reported revenue of $746.9 million in both years. Segment operating income was $96.4 million in 2018 and $114.3 million in 2017. Foreign currency translation increased revenue by approximately 1% in 2018 and had a minimal impact on operating income.
IFF Reports Fourth Quarter & Full Year 2018 Results - Feb. 13, 2019 - International Flavors & Fragrances Inc. Full Year 2018 Consolidated Financial Results -Reported net sales for the full year totaled $4.0 billion, an increase of 17% from $3.4 billion in 2017 driven by mid-single digit growth in both Taste and Scent and the contribution of sales related to Frutarom. For the year, pricing contributed approximately 2 percentage points to growth for both Taste and Scent.
Reported earnings per share (EPS) for the full year was $3.79 per diluted share versus $3.72 per diluted share reported in 2017. Excluding those items that affect comparability, adjusted EPS ex amortization was $6.28 per diluted share in 2018 versus $6.23 in the year-ago period as adjusted operating profit growth and a lower year-over-year adjusted effective tax rate more than offset higher interest expense and shares outstanding, both due to the Frutarom acquisition.
Taste Business Unit - On a reported basis, sales increased 6%, or $105.2 million, to $1.7 billion. Currency neutral sales grew 5% driven by growth in all regions and across all categories. Improvements were driven by high-single digit growth in North America, with strong double-digit growth at Tastepoint?. EAME, led by double-digit growth in Africa and the Middle East, and Latin America, driven by strong double-digit growth in Argentina, both achieved mid-single digit growth.
Taste segment profit increased 10% on a reported basis and 6% on a currency neutral basis, driven primarily by volume growth and the benefits from productivity initiatives.
Scent Business Unit - On a reported basis, sales increased 6%, or $114.1 million, to $1.9 billion. Currency neutral sales improved 4%, with the strongest improvement in Fragrance Ingredients, which grew high-single digits, led by price increases and strong double-digit growth in Cosmetic Active Ingredients. Consumer Fragrances grew mid-single digits, including price increases, as performance was driven by double-digit growth in Hair Care and mid-single digit growth in Fabric Care, Home Care and Toiletries.
Scent segment profit increased 3% on a reported basis and declined 2% on a currency neutral basis as the benefits from cost and productivity initiatives were more than offset by unfavorable price to input costs, reflecting unprecedented raw material inflation - including the previously announced citral supply issue and additional supply chain disruptions that occurred throughout the year - as well as higher manufacturing costs.
Taste Business Unit - On a reported basis, sales remained constant at $401.6 million in 2018. Currency neutral sales improved 2%, with growth in three of four regions. Performance was led by mid-single digit growth in North America and Greater Asia, the latter, which saw double-digit growth in India and high-single digit increases in Indonesia and China.
Taste segment profit decreased 5% on a reported basis and 7% on a currency neutral basis, as volume growth and the benefits from productivity initiatives were more than offset by higher Research, Selling and Administrative expenses.
Scent Business Unit - On a reported basis, sales increased 1%, or $5.2 million, to $457.9 million. Currency neutral sales improved 3% as Fragrance Ingredients improved mid-single digits and Consumer Fragrances grew low-single digits to more than offset a slight decline in Fine Fragrances due to a strong double-digit year-ago comparison.
Scent segment profit decreased 4% on a reported and currency neutral basis as the benefits from productivity initiatives and cost management were more than offset by unfavorable price to input costs and higher manufacturing expenses.
Frutarom Business Unit - On October 4, 2018, the Frutarom acquisition was completed. The results for Frutarom have been included from the closing date, and as a result do not represent a full quarter.
On a reported basis, sales were $359.6 million. On a standalone basis, Frutarom sales improved 3% on a like-for-like basis driven by strong growth in Natural Product Solutions and F&F Ingredients. The Core business – excluding Trade & Marketing – grew 4% on a like-for-like basis versus prior year.
Segment profit contributed $27 million in the fourth quarter; $66 million excluding amortization.
T. Hasegawa 1st Qtr 2018-2019 Sales Results - February 8, 2019 - Summary of consolidated net sales for the Three Months Ended December 31, 2018. Net sales were up 4.0% to ¥ 12,126 million compared to ¥ 11,655 million in the prior year. Operating income for the period declined 5.0% to ¥ 959 million.
Givaudan 2018 Full Year Sales - 25 January 2019 - Givaudan Group full year sales were CHF 5,527 million, an increase of 5.6% on a like-for-like basis and 9.4% in Swiss francs when compared to 2017. Fragrance Division sales were CHF 2,525 million, an increase of 6.6% on a like-for-like basis and 7.8% in Swiss francs. Flavour Division sales were CHF 3,002 million, an increase of 4.6% on a like-for-like basis and 10.8% in Swiss francs.
Gross profit increased by 3.5% from CHF 2,250 million in 2017 to CHF 2,329 million in 2018. Despite continued productivity gains and cost discipline, the gross margin declined to 42.1% in 2018 compared to 44.5% in 2017, as a result of the lower gross margin in the Fragrance Division, which was impacted by a sharp and broad based increase in raw material costs.
Operating income was CHF 883 million compared to CHF 869 million, an increase of 1.7% versus 2017. When measured in local currency terms, the operating income increased by 0.1%. The operating margin was 16.0% in 2018 compared to 17.2% in 2017. Net income decreased to CHF 663 million in 2018 from CHF 720 million in 2017. This results in a net profit margin of 12.0%, versus 14.2% in 2017. Basic earnings per share were CHF 71.92 compared to CHF 78.18 for the same period in 2017.
Givaudan launches MISTA – a new innovation platform for the food industry- 13 Nov 2018 - Givaudan, the global leader in flavours and fragrances, has launched MISTA, a new innovation platform for the food industry. More encompassing than an incubator or accelerator, MISTA is an optimiser, enabling start-ups and established corporations to optimise ideas, products, people and investments. Located in San Francisco, MISTA will open its physical premises in early 2019. With an extensive 7,000 square feet (650m2) of space, the MISTA Optimisation Center (MOC) will provide access to a product development facility, equipment for pasteurisation and fermentation, experts providing market and leadership development strategies, as well as input from world renowned culinary and food scientists.
Gilbert Stork Memorial Fund - A Gilbert Stork Memorial Fund has been created that will be used to fund a graduate fellowship in chemistry at Columbia University in Professor Stork's name. If you would like to contribute, please use this link to the Stork Memorial Fund webpage on the Columbia University fundraising site at https://www.givenow.columbia.edu/ and enter "Stork Memorial Fund." If you would like to contribute by check, please send your donation to Mr. Carlos Garcia, Columbia University, 3000 Broadway, Chemistry Department, MC 3170, New York, NY 10027-6941, USA. Please be sure to include "Stork Memorial Fund" in the memo line.
T. Hasegawa Full Year 2017-2018 Sales Results - November 9, 2018 - T. Hasegawa's consolidated net sales were up 3.6% to ¥ 49,751 million compared to ¥ 48,001 million in the prior year. Net income for the period declined 4.6% to ¥ 4,100 million.
Takasago Financial Results for the 1st Half of the Year Ending March, 2019 -November 19, 2018 - Net sales came to 76.9 billion yen, up 7.5%, or 5.4 billion yen, year on year. Operating profit increased 15.4% year on year, to 4.2 billion yen.
Givaudan announces a CHF 20 million investment at Expressions Parfumées in Grasse to support the growth of local and regional customers - 13 Nov 2018 - Givaudan today announced the investment of CHF 20 million in Expressions Parfumées' facilities in Grasse to expand and modernise the research and development laboratories as well as the production facilities with new robotics and digitalisation of operations. The investment aims at supporting the strong growth ambitions with local and regional customers as well as expanding the NATCO® range of fully natural fragrance compounds. The expansion is expected to be completed in the first half of 2020.
Symrise Nine Month 2018 Sales - 7 November, 2018 - Following a very dynamic first half of the year, Symrise AG successfully continued its growth course in the third quarter. All segments and regions contributed to this positive trend. The Group achieved an organic sales increase of 8.8 % in the first nine months of the year. Taking portfolio and exchange rate effects into account, sales in reporting currency were up 4.6 % to � 2,382.6 million (9M 2017: � 2,278.4 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to � 475.7 million (9M 2017: � 485.2 million). The EBITDA margin remained at a good level of 20.0 %. Based on the positive nine-month development, Symrise raises its sales objective, which had already been increased at mid-year. Symrise aims at outperforming market growth and at achieving organic sales growth of more than 8 % in Fiscal Year 2018.
Firmenich hs announced the completion of its acquisition of Senomyx, Inc. - November 2, 2018 - Sentry Merger Sub, Inc., a wholly owned subsidiary of Firmenich Incorporated ("Purchaser"), has successfully completed its tender offer to purchase all of the outstanding shares of common stock of Senomyx (NASDAQ: SNMX), at a price of $1.50 per share, net to the seller in cash, without any interest thereon and less any applicable withholding taxes.
CPL Aromas has purchased the Spanish company dM fragrances establishing a new full-service operation for CPL in the EU - Oct. 19, 2018 - Operating from modern facilities in Barcelona; dM fragrances, also known as Bastet, has an established reputation for supplying high quality fragrances into the Spanish market and beyond. Founded in 1910 the company, like CPL Aromas, is a family owned business managed by Ms. Amalia Rubio who will remain as General Manager together with her team in Barcelona. For CPL Aromas, this important acquisition provides a base for the company in the important Spanish fragrance market also providing additional sales in the Middle East and Africa where dM have a strong presence. The acquisition is of strategic importance to CPL Aromas as it ensures the company will continue to have production facilities within the European Union after the United Kingdom leaves the EU in March 2019.
Sensient Technologies Reports Results for the 3d Quarter Ended September 30, 2018 - Oct. 19, 2018-- Sensient Technologies reported earnings per share of $1.12 in the third quarter of 2018 compared to 73 cents in the third quarter of 2017. Revenue was $342.7 million in this year's third quarter compared to $353.5 million in last year's third quarter. Operating income was $50.3 million in the third quarter of 2018 & $52.0 million in last year's third quarter.
Firmenich Full Year 2017-2018 Sales - Geneva, Switzerland, October 10, 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..
Givaudan 2018 Nine Month Sales - 09 October 2018 - In the first nine months of 2018 Givaudan recorded sales of CHF 4,073 million, an increase of 5.7% on a like-for-like1 basis and 8.4% in Swiss francs.
Fragrance Division sales were CHF 1,878 million, an increase of 6.6% on a like-for-like1 basis and an increase of 7.9% in Swiss Francs.
Flavour Division sales were CHF 2,195 million, an increase of 4.8% on a like-for-like1 basis and an increase of 8.8% in Swiss Francs.
Givaudan has included the sales of Naturex from 1 September 2018, with sales of CHF 35 million in the Flavour Division and CHF 1 million in the Fragrance Division.
Firmenich to acquire Senomyx, pioneer in taste innovation - 17 September 2018 - Firmenich and Senomyx, Inc. (NASDAQ: SNMX) today announced that they have entered into a definitive merger agreement under which Firmenich will acquire all of the outstanding common stock of Senomyx for $1.50 per share in cash. This represents a premium of approximately 43% over Senomyx's closing price on September 14, 2018 and a premium of approximately 39% based on the prior 30-trading day volume-weighted average price (VWAP). The proposed transaction has been unanimously approved by the Boards of Directors of both Firmenich and Senomyx. The companies expect to close the transaction in the fourth quarter of 2018.
"Senomyx has established itself as a leader in taste innovation and a recognized pioneer in sweet, cooling and bitter solutions," said Patrick Firmenich, Chairman of the Board, Firmenich. "Building on our long-term partnership spanning more than a decade, we look forward to welcoming Senomyx into Firmenich to lead in taste and nutrition."
"We are excited to be joining Firmenich," stated John Poyhonen, President and Chief Executive Officer of Senomyx. "Firmenich's commitment to innovation and delivery of world-class commercialization capabilities combined with our long standing relationship makes this deal the ideal fit for our companies. We believe this merger will allow the Senomyx discoveries to reach their full potential. I would like to personally thank all our employees for their dedication and contributions in building a leading proprietary taste science technology platform that will benefit consumers around the globe well into the future."
"Building on our world-class science and pioneering taste platform, this strategic acquisition confirms our commitment to being the partner of choice in taste and nutrition," said Gilbert Ghostine, CEO Firmenich. "Adding Senomyx's leading taste technologies and strong natural ingredients pipeline to our taste platform, uniquely positions us to create healthy and great tasting food, drink and oral care experiences for our customers."
IFF Receives Final Antitrust Clearance for Acquisition of Frutarom - 14 September 2018 - International Flavors & Fragrances Inc. ( IFF) today announced that it has received antitrust clearance from all relevant antitrust authorities around the world, and all applicable antitrust and competition laws have been satisfied.
IFF Announces Pricing of Common Stock and Tangible Equity Unit Offerings - 13 September 2018 - International Flavors & Fragrances Inc. today announced that it has priced its previously announced public offering of 11,516,315 shares of its common stock at $130.25 per share and that it has priced its previously announced concurrent offering of 15,000,000 of its 6.00% tangible equity units at $50.00 per unit (equal to the stated amount per unit). The common stock offering and tangible equity unit offering are separate public offerings made by means of separate prospectus supplements under IFF's effective shelf registration statement and are not contingent on each other or upon the consummation of the merger discussed below. IFF's common stock is listed on the New York Stock Exchange and Euronext Paris under the symbol "IFF," and IFF intends to apply to list the tangible equity units on the New York Stock Exchange under the symbol "IFFT." IFF anticipates that each offering will close on September 17, 2018, subject to customary closing conditions. IFF expects the net proceeds from the common stock offering to be approximately $1,456 million (or up to $1,602 million if the underwriters for the common stock offering exercise their option to purchase additional shares of IFF's common stock) and expects the net proceeds from the tangible equity unit offering to be approximately $726 million (or up to $799 million if the underwriters for the tangible equity unit offering exercise their over-allotment option), in each case after deducting underwriting discounts and commissions and estimated expenses. IFF intends to use the net proceeds from these offerings, together with borrowings under new term loans, additional debt financing and cash on hand, to finance the previously announced merger with Frutarom Industries Ltd. and to pay related fees and expenses. If for any reason the merger is not consummated, then IFF intends to use the net proceeds from these offerings for general corporate purposes.
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Firmenich secures strategic rights with Layn to lead in natural sweeteners - 13 September 2018 - Firmenich has entered a strategic agreement with Layn Natural Ingredients, a leader in premium, plant-based sweeteners, flavors and botanicals. Advancing its leadership in taste, this agreement will give Firmenich exclusive access to the widest range of natural sweeteners and taste modulation extracts in the industry. Based in Guangxi, China, with direct access to the country's most pristine botanicals, Layn uses state-of-the-art extraction technologies to produce a range of natural sweeteners and extracts, such as Monk Fruit (LuoHan) and stevia, for which Firmenich will have the worldwide rights."With this game-changing partnership, Firmenich will have access to the broadest range of natural sweeteners in the industry," said Gilbert Ghostine, CEO of Firmenich. "This critical milestone strengthens our leadership and capabilities in taste, to best support our customers in shaping natural and healthier products for consumers to enjoy."
Under the terms of the Agreement, Firmenich will become the exclusive distributor of Layn's natural sweetener ingredients for all international markets outside of China and for its key customers in China, while Layn will continue to service its existing clients for the duration of those commitments. With the most complete set of natural sweetener capabilities, Firmenich is now actively involved across the entire natural sweetener value chain, from the early stages of agronomy to developing foods and beverages of the future. Consistent with Firmenich's strategic partnerships at source, this agreement aims to ensure the highest quality, as well as the most innovative, traceable and responsibly-sourced raw materials.
Firmenich will combine Layn's natural sweetener ingredients with its taste modulation technologies and flavors to create integrated taste solutions with a sugar-like sweetness profile and mouthfeel. The two companies will work together to ensure the widest market coverage and best service in the growing market for natural healthy products.
Givaudan to complete squeeze out and delisting of Naturex - 13 September 2018 - Following the completion of the second tender offer for the shares of Naturex, Givaudan now holds 9,436,645 of Naturex shares, representing 98.06% of the capital. In accordance with the initial tender offer, Givaudan confirms its intention to implement a squeeze-out procedure along with the delisting of Naturex shares from the Euronext Paris stock exchange. The squeeze-out will be implemented on 18 September 2018, as indicated by the French markets regulator, Autorité des Marchés Financiers. As a result of the squeeze-out, Naturex shares will then be delisted from the Euronext Paris stock exchange.
Givaudan Fragrances announces strategic partnership with Synthite - 29 August 2018 - Givaudan is excited to announce the formation of a strategic partnership with Synthite for the development of exclusive innovative natural ingredients for its Fragrance business. The two companies will jointly work on research and development of exceptional qualities of floral and spicy natural ingredients such as jasmine, tuberose, ginger, and cardamom. These unique natural ingredients will enrich Givaudan's palette of ingredients for perfumers to create the winning fragrances of tomorrow.
Frutarom Half Year Sales - 23 August, 2018 - In the half year Sales grew by 21.7% to a record US$ 786.1 million; constant currency growth on a pro forma basis of 6.0%
Sales from Core Activities grew by 24.0% to a record US$ 746.1 million; constant currency growth on a pro forma basis of 7.2%
Sales from Flavors activity grew by 21.9% to a record US$ 577.5 million; constant currency growth on a pro forma basis of 7.0%
Sales from Specialty Fine Ingredients grew by 31.8% to a record US$ 175.5 million; constant currency growth on a pro forma basis of 8.7%
o Gross profit rose 28.8% to US$ 319.2 million;
o EBITDA rose 39.2% to US$ 170.7 million;
o Net income rose 39.0% to US$ 98.6 million;
Symrise 1st half 2018 Sales - 14 August, 2018 - In the first six months, Symrise AG increased its organic sales by a strong 9.0 %. The second quarter was particularly dynamic with double-digit sales of 10.6 %. Symrise is therefore once again one of the fastest-growing companies in the industry. All segments and regions contributed to this positive business performance. Considering portfolio effects, such as the contribution from the recently acquired companies Cobell and Citratus, and exchange rate effects, sales grew by 4.0 % to � 1,575.5 million (H1 2017: � 1,515.3 million). As in the previous quarter, sales trend in reporting currency was impacted by unfavorable exchange rates, in particular by the appreciation of the euro against the US dollar.
As before, Latin America was the key growth driver at the regional level. During the reporting period, the region recorded organic sales growth of 16.1 %. In the second quarter, growth reached even 20.2 %. The Asia/Pacific region sales grew by 12.3 % in the first half of the year, followed by EAME and North America with growth rates of 7.4 % and 5.2 %, respectively. In Emerging Markets, Symrise increased sales by 12.8 %. These markets, which are characterized by dynamic growth, contributed 43 % to total sales.
In the first half of 2018, Symrise generated earnings before interest, taxes, depreciation and amortization (EBITDA) of � 317.1 million (H1 2017: � 322.9 million). In addition to higher raw material costs and unfavorable exchange rate effects, this slight decline also reflects increased investments in strategic growth projects. With these expenses too, Symrise maintained a very good profitability. The EBITDA margin was with 20.1 % at a good level (H1 2017: 21.3 %). Net income for the period grew to � 142.3 million (H1 2017: � 141.8 million). Earnings per share rose slightly to � 1.10 (H1 2017: � 1.09).
Scent & Care segment - In a challenging environment, the Scent & Care segment achieved strong organic growth of 10.1 % in the first half of the year. In this continuing tense situation of the raw material markets, especially with the supply of important aromatic substances, the segment sustained the dynamic development from the previous quarter and grew by 13.6 % between April and June. Taking into account negative exchange rate effects and the portfolio effect from the acquisition of Citratus, the segment increased sales by 3.4 % to � 660.1 million (H1 2017: � 638.2 million).
The second quarter was also marked by failure to deliver raw materials of some suppliers and an overall rise in price level. Scent & Care again benefited from its comprehensive backward integration in fragrances – recently strengthened by the acquisition of Pinova in 2016 – and its mostly own broad raw material base. As in the previous quarter, Symrise was therefore fully capable of delivering to its clients. To compensate for the increased raw material costs, the company is in close dialogue with its customers to actively implement price increases.
Also in view of significantly higher raw material prices, which led to cost increases, the segment's EBITDA of � 127.9 million was on prior-year level (H1 2017: � 128.4 million). Crucial when comparing with the reference period is that it included a one-off gain of � 4.7 million from the purchase price adjustment related to the sale of the Pinova industrial activities. The EBITDA margin of the segment was 19.4 % (H1 2017: 20.1 %). Adjusted for the one-off effect, the EBITDA margin for the same period in the prior year was 19.4 %.
Flavor segment - Flavor achieved strong organic sales growth of 10.9 % in the reporting period. All regions and application areas significantly expanded their sales. The segment also benefited from new business with vanilla and the high price level of vanilla applications. Considering exchange rate effects and the Cobell acquisition, the segment's sales grew by 9.0 % to � 604.7 million (H1 2017: � 554.8 million).
In the EAME region, the Flavor segment achieved double-digit organic growth rates. Significant growth impetus came mainly from applications for Sweets and for Savory in Western Europe and Russia.
The Asia/Pacific region recorded high single-digit, and for some areas even double-digit, growth rates across all application areas. The markets of China, India, South Korea and Singapore developed particularly well.
Latin America also showed a very good development with organic growth rates in the upper single-digit range. Sweets and Savory performed especially well, achieving double-digit growth in Argentina, Brazil and Mexico.
The North America region achieved double-digit organic sales growth rates as well and therefore also showed a very positive development. The first half of the year was particularly dynamic in the Beverages application area.
EBITDA in the Flavor segment increased in the first half of 2018 by 3.3 % to � 127.0 million (H1 2017: � 123.0 million). At 21.0 %, the EBITDA margin remained at a very good level (H1 2017: 22.2 %).
Nutrition segment - Nutrition generated organic growth of 3.6 % in the first six months. This figure reflects the temporarily destocking of one major customer of Probi. Adjusted for this effect, growth in the segment amounted to 7.6 %. Taking into account negative exchange rate effects, sales amounted to � 310.6 million (H1 2017: � 322.2 million). Order intake at Probi is expected to normalize in the second half of the year.
The Food and Pet Food application areas each recorded solid single-digit organic growth rates, with particularly high growth rates in EAME, North and Latin America. Aqua benefited from numerous business wins in the EAME and Asia/Pacific regions and achieved a double-digit organic growth rate.
Nutrition generated an EBITDA of � 62.2 million in the first half of 2018 (H1 2017: � 71.6 million). The temporary decline mainly reflects the lower sales contribution from Probi and ramp-up costs for the new Diana site in the USA. With all these special effects, the EBITDA margin was at stable 20.0 % (H1 2017: 22.2 %).
Symrise raises outlook for sales growth in 2018 - Based on the strong growth momentum of the first six months, Symrise is refining its sales guidance for the current fiscal year: For 2018, the Group expects to significantly exceed market growth, which is expected to range between 3 to 4 %. Symrise now expects sales growth of more than 7 %, and thus above the medium-term target corridor of 5 to 7 %.
In addition to good demand, the Group's organic growth will accelerate primarily as a result of numerous investment projects to expand capacity. In August, for example, the capacity expansion for cosmetic ingredients will be successfully completed in South Carolina. Moreover, the new Diana Food Ingredients site in Georgia will start production in the fourth quarter.
Symrise also expects for the second half of the year that the continuing shortage of key raw materials for perfume compositions will not lead to any shortfalls in its supply. Nevertheless, as in the first half-year, higher purchase costs for raw materials are likely. Overall, the Company considers itself well positioned to compensate for market shortages on the basis of its own backward integration.
Symrise therefore intends to remain one of the most profitable companies in the industry in 2018 with an EBITDA margin of around 20 %.
T. Hasegawa - Consolidated financial results for the nine months ended June 30, 2018 (from October 1, 2017 to June 30, 2018) - Nine months Sales ended June 30, 2018 rose 4.2% to ¥36,862 million while Operating profit fell 11.1% to ¥ 3,888 million.
Takasago - Consolidated Financial Statements for the 1st Qtr of the Fiscal Year ended March 31st, 2019 - 8 August 2018 - During the first quarter of the fiscal year 2018-2019, consolidated net sales rose 7.9% year on year, to ¥38,895 million. Looking at the business segment, net sales in the flavors business rose 6.1% year on year, to ¥23,103 million, due mainly to the strong performance of the German subsidiary. In the fragrances business, net sales rose 6.4% year on year, to ¥9,703 million, due mainly to the sales increase of the Singaporean subsidiary. In the aroma ingredients business, net sales rose 12.7% year on year, to ¥3,426 million due to the solid performance of menthol, the mainstay product of this business segment. In the fine chemical business, net sales rose 32.8% year on year, to ¥2,301 million, due to the growth in the sales of pharmaceutical intermediates. In the other business, the real estate business, net sales decrease 0.3% year on year, to ¥359 million. Operating profit during this period rose 6.4% year on year, to ¥2,193 million. Ordinary profit rose 17.1% year on year, to ¥2,871 million. Net income attributable to the parent company rose 11.4% year on year, to ¥2,050 million. By region, Japan saw an increase in net sales totaling ¥18,020 million (up 3.1% year on year) due to the solid performance in the aroma ingredients business, while operating profit decrease 10.6% year on year, to ¥1,109 million, due mainly to gross profit decrease by the price increase of raw materials. In the Americas, net sales rose 5.6% year on year, to ¥8,150 million, while operating loss amounted to ¥248 million (operating profit in the same period last year: ¥130 million), reflecting the price increase of raw materials on the US subsidiary. Meanwhile, net sales in Europe rose 24.4% year on year, to ¥6,634 million, and also operating profit increased 79.3% year on year, to ¥598 million, due mainly to the strong performance of the German subsidiary. In Asia, net sales rose to ¥6,089 million (up 10.5% year on year) and also operating profit increased to ¥476 million (up 6.5% year on year) due mainly to the sales increase of the Singaporean subsidiary.
IFF 2d Qtr 2018 Sales - 7 August 2018 - Reported net sales for the second quarter totaled $920 million, an increase of 9% from $843 million in 2017. Excluding the impact of foreign exchange, currency neutral sales increased 5% over the prior year. Reported operating profit for the second quarter was $155 million versus $152 million reported in 2017, an increase of 2%. Excluding the impact of foreign exchange and those items that affect comparability, currency neutral adjusted operating profit decreased by 2%.
Flavors Business Unit - On a reported basis, sales increased 9%, or $36.2 million, to $450.5 million. Currency neutral sales grew 6% driven by growth in all categories and all regions. Flavors segment profit increased 13% on a reported basis and 6% on a currency neutral basis
Fragrances Business Unit - On a reported basis, sales increased 10%, or $40.9 million, to $469.5 million. Currency neutral sales improved 5%, with broad-based growth from all categories and nearly all regions. Fragrances segment profit was flat on a reported basis and decreased 9% on a currency neutral basis as volume growth and the benefits from productivity initiatives were more than offset by the impact of higher raw material costs, net of price increases, including the previously announced citral supply issue.
Firmenich acquires Campus to expand its natural & clean label capabilities for protein solutions - 7 August 2018 -Firmenich acquires Campus, an innovator in the application of natural functional ingredients for protein applications, specializing in clean label, meat, dairy, sauces and plant-based food. This acquisition broadens Firmenich's capabilities in naturals and protein solutions, cutting across animal and vegan food products. Campus was founded in 2005 in Parma, at the heart of Italy's "Food Valley," by Giampaolo Cagnin with a focus on meat. Over the years, the Company has developed deep expertise and applications knowledge in using natural products, such as fibers, to create customized functional solutions for a broad range of protein applications. Campus operates research and production facilities in Italy, and is expanding its footprint globally with a state-of-the-art production plant in Monterrey, Mexico due to start production later this year.
"I am delighted to be welcoming Campus into the Firmenich family, as we share common values, a commitment to world-class research and to leading innovation in natural solutions," said Patrick Firmenich, Chairman of the Board, Firmenich. "Giampaolo Cagnin and Federico Fulgoni, Campus's CEO, have built an impressive organization that we look forward to taking to the next level to offer our customers a complete natural taste experience." "With Firmenich's excellence in research and global market reach, I am excited about the many opportunities ahead for Campus," remarked Federico Fulgoni, CEO of Campus. "By combining our capabilities we will accelerate our longstanding goal of offering the most comprehensive range of clean label solutions for protein applications, cutting across animal and plant-based products." "Campus is a company that has been built on innovation and has made its mark in protein solutions," said Gilbert Ghostine, CEO, Firmenich. "We look forward to working together to expand its reach globally and leverage its capabilities into new categories such as dairy and plant-based solutions to make our customers win today and tomorrow."
Reopening of Givaudan's tender offer for the remaining shares of Naturex on 8 August 2018 - 7 August 2018 - Following the closure of the tender offer period initiated by Givaudan for the remaining outstanding shares of Naturex, Givaudan now holds 9,358,019 of Naturex shares, representing 97.24% of the capital, based on the total number of shares as of 31 July 2018. This includes the successful acquisition of 40.5% of the shares of Naturex prior to the launch of the tender offer, which was completed on 4 June 2018. The tender offer will now re-open from 8 August 2018 until 3 September 2018 inclusive, under the same terms. In accordance with the initial tender offer, Givaudan confirms its intention to implement a squeeze-out procedure along with the delisting of Naturex shares from the Euronext Paris stock exchange, following the closure of this offer period.
Agilex Fragrances, a company of the Firmenich Group, is pleased to announce that it has successfully completed the acquisition of Fragrance West. 23 July 2018 - Headquartered in Los Angeles, U.S.A., Fragrance West is a leading body, home and air care perfumery house on the West Coast of the United States, serving the small and mid-sized market since 2008. With a full service approach, Fragrance West offers superior creative scent design and best-in-class speed-to-market supported by a manufacturing facility in Los Angeles. With this acquisition Agilex becomes the only fragrance company in the middle market to operate with manufacturing capabilities on both the East and West Coast. Fragrance West will be fully integrated into Agilex Fragrances and will operate under the Agilex Fragrances brand name. Its Los Angeles manufacturing facility will be maintained to ensure leading customer service.
Sensient Flavors & Fragrances Group 1st Half 2018 Sales - Milwaukee, July 20, 2018 - Milwaukee, July 20, 2018 - The Flavors & Fragrances Group reported revenue of $198.7 million and $185.6 million (+7.1%) in the second quarters of 2018 and 2017, respectively. Operating income was $24.0 million in the quarter compared to $28.5 million in last year's quarter (-15.8%).
In the first six months of 2018, the Flavors & Fragrances Group reported revenue of $387.0 million compared to $372.4 million in the first six months of 2017 (+3.9%). Segment operating income was $49.3 million in the first six months of 2018 and $57.3 million in the first six months of 2017 (-13.9%).
Givaudan 2018 Half year results - 19 July 2018 - Givaudan Group sales for the first six months of the year were CHF 2,674 million, an increase of 5.6% on a like-for-like basis and 7.7% in Swiss francs.
Fragrance Division sales were CHF 1,223 million, an increase of 6.5% on a like-for-like basis and 7.5% in Swiss francs.
Flavour Division sales were CHF 1,451 million, an increase of 4.9% on a like-for-like basis and 7.8% in Swiss francs.
The gross profit increased by 4.4% from CHF 1,132 million in 2017 to CHF 1,182 million in 2018. Despite continued productivity gains and cost discipline, the gross margin declined to 44.2% in 2018 compared to 45.6% in 2017, as a result of a lower gross margin in the Fragrance Division.
Net income for the first six months of 2018 was CHF 371 million compared to CHF 384 million in 2017, a decrease of 3.4%, resulting in a net profit margin of 13.9% versus 15.5% in 2017. Basic earnings per share were CHF 40.26 versus CHF 41.70 for the same period in 2017.
Evolva announces Oliver Walker to succeed Simon Waddington as CEO - 10 July 2018 – Evolva (SIX: EVE) announces today that as part of entering the next phase of its evolution, the current Evolva CEO Simon Waddington steps down as CEO with immediate effect. Until he will leave the company towards the end of 2018, he will support the new CEO in completing work on Evolva's technology base. This will include the building of a framework for an innovation pipeline that will deliver commercially attractive new products.
Our current CFO, Oliver Walker, who has co-led the company's strategic development, will be Evolva's new CEO. He will retain his financial responsibilities with the current VP Finance Alessandro Del Fabro leading the financial operations. Scott Fabro, Evolva's Chief Commercial Officer, will additionally assume the role of Chief Operating Officer as he will be taking responsibility also for the supply chain. There are no near-term plans to expand the executive management team as Evolva's R&D activities in Reinach will be led by Astrid Schäfer. She joined Evolva in 2010 and held several critical research roles.
Simon, Oliver and Scott have led the planning and execution of the Company's corporate restructuring and transformation from July 2017. The important achievements have been raising CHF 86M in equity in November 2017, significantly reducing the cash burn rate, centralizing most R&D activities in the Swiss headquarters and building a strong commercial organization. In addition, during the past 12 months Evolva has filed for registration of its breakthrough, next-generation pest control product nootkatone and restructured the Cargill-stevia commercial agreement to maximize shareholder value with reduced financial commitments.
As the major parts of restructuring are completed, Evolva now enters the next phase of its development with a strong focus on commercial and operational activities. This will also include expanding the current product range with "ready-to-go-to-market" products and exploiting Evolva's ability to rapidly go from product concept to commercial reality. The new CEO will be physically located at Evolva's headquarters in Reinach, Switzerland, with the COO being located in the USA, the main market for Evolva's innovative products.
Gerard Hoetmer, Chairman of Evolva's Board of Directors, said "On behalf of the whole Board, I would like to thank Simon for all his efforts in building Evolva during the last seven years and especially to carry out the transformation during the last twelve months. We are confident that under Oliver's leadership Evolva will further accelerate its activities to build the business and reach its true potential."
Givaudan completes the acquisition of Expressions Parfumées - Geneva, 4 June 2018 - Givaudan, the global leader in flavours and fragrances, today announced it has completed the acquisition of Expressions Parfumées, a French fragrance creation house, from its current shareholders, Orfite and Expressions Parfumées' management. Founded in Grasse in 1982, Expressions Parfumées is a pioneer of natural fragrance compounds and offers its NATCO® range of perfumes designed to adapt to any production labelled 'organic'. Givaudan had entered in exclusive negotiations to acquire Expressions Parfumées in December 2017.
Takasago Full Year 2017-2018 Sales - May 15, 2018 - For the fiscal year ending March 31, 2018 Consolidated net sales rose 3.5% year on year, to ¥141,592 million. Net sales in the flavors business rose 1.5% year on year, to ¥83,312 million, due to the strong performance of the German subsidiary. In the fragrances business, net sales rose 6.3% year on year, to ¥38,183 million, due mainly to the solid performance of the French subsidiary. In the aroma ingredients business, net sales rose 8.4% year on year, to ¥11,409 million due to the steady performance of menthol, the mainstay product of this business segment. In the fine chemical business, net sales rose 6.7% year on year, to ¥7,246 million, due to growth in the sales of pharmaceutical intermediates. In the other business, the real estate business, net sales rose 1.1%, to ¥1,441 million. Operating income during this period fell 11.2% year on year, to ¥6,358 million. Ordinary income fell 13.2% year on year, to ¥6,720 million.
Symrise 1st Qtr 2018 Sales - May 8, 2018 - Group sales up by 1.5 % to � 776.9 million, including portfolio and exchange rate effects and EBITDA margin with 20.1 % in target corridor. Symrise AG remains on track for strong growth in the fiscal year 2018 and achieved a very healthy 7.5 % organic increase in sales in the first quarter. All segments benefited from good demand. Taking into account portfolio and exchange rate effects, sales in the first quarter were up 1.5 % to � 776.9 million (Q1 2017: � 765.2 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to � 155.8 million. Due to negative currency effects and higher raw material costs, it came in lower than in the prior-year period (Q1 2017: � 165.5 million).
Scent & Care posted a 6.9 % organic sales increase in the first quarter. Considering the negative currency effects and the portfolio effect from the Citratus acquisition, sales in reporting currency amounted to � 331.8 million, and thus were slightly lower than year-on-year.
The Aroma Molecules division delivered the strongest growth, with organic double-digit percentage increases, in particular in applications for fragrance ingredients.
The Cosmetic Ingredients division achieved strong organic growth in the high single-digit percentage range, showing particularly expansive developments in the Asia/Pacific and Latin America regions.
The Fragrance division reported a moderate organic increase in sales, especially driven by the Beauty Care and Home Care business units. Beauty Care, which develops and markets body and facial care applications, realized strong organic growth especially in the Asia/Pacific and Latin America regions. In the Home Care business unit, healthy increases were seen in the Asia/Pacific, EAME and Latin America regions, mainly through new business with regional customers. The Fine Fragrances business unit achieved a double-digit growth rate in Latin America as a result of higher demand from regional and local customers.
The EBITDA for the Scent & Care segment in the first quarter amounted to � 64.8 million (Q1 2017: � 71.9 million). The year-on-year decrease reflects negative currency effects, higher prices for raw materials and the one-off gain from the sale of the Pinova industrial activities. The EBITDA margin was 19.5 % (Q1 2017: 21.6 %).
Sales in the Flavor segment, which encompasses the business activities with flavors for foods and beverages, grew organically in the first quarter at a very dynamic rate of 11.0 %. All business units and regions showed significant increases in sales. Taking into account exchange rate effects and the Cobell acquisition, sales in this segment were up 7.8 % in reporting currency in the first quarter to � 291.2 million (Q1 2017: � 270.2 million).
In the Flavor segment, EBITDA increased to � 61.0 million. This result was � 4.1 million higher than in the same period a year earlier (Q1 2017: � 56.9 million) despite unfavorable exchange rates, and represents an increase of 7.2 %. The EBITDA margin, at 20.9 %, was down slightly (Q1 2017: 21.1 %), mainly as a result of the Cobell acquisition.
IFF 1st Qtr 2018 Sales - May 8, 2018 - Reported net sales for the first quarter totaled $931 million, an increase of 12% from $828 million in 2017. Excluding the impact of foreign exchange, currency neutral sales increased 7% over the prior year.
Reported operating profit for the first quarter was $175 million versus $130 million reported in 2017, an increase of 34%. Excluding the impact of foreign exchange and those items that affect comparability, currency neutral adjusted operating profit grew 12%, principally driven by volume growth, the benefits associated with cost and productivity initiatives and favorable sales mix.
Reported earnings per share (EPS) for the first quarter was $1.63 per diluted share versus $1.45 per diluted share reported in 2017. Excluding the impact of foreign exchange and those items that affect comparability, currency neutral adjusted EPS improved 12%.
Flavors Business Unit - On a reported basis, sales increased 11%, or $42.9 million, to $449.0 million. Currency neutral sales grew 6% driven by growth in all categories and nearly all regions. EAME increased 24% on a reported basis and 11% on a currency neutral basis, led by strong double-digit growth in Africa and the Middle East as well as mid-single digit growth in Europe. Growth was achieved across all categories, led by strong performances in Dairy, Savory, and Beverage. North America improved 10% driven by double-digit growth at Tastepoint? and strong new wins in Beverage and Dairy. Latin America decreased 2% on a reported and currency neutral basis. Mid-single digit growth in South Cone was more than offset by softness in Mexico and Colombia – both of which grew strong double-digits in the year-ago period. On a category basis, strong double-digit growth was achieved in Savory as well as low-single digit growth in Dairy. Greater Asia increased 6% on a reported basis and 2% on a currency neutral basis, as double-digit growth in India and China was muted by softness in Indonesia and the ASEAN region. On a category basis, growth was strongest in Sweet, Savory and Dairy.
Fragrances Business Unit - On a reported basis, sales increased 14%, or $59.8 million, to $481.9 million. Currency neutral sales improved 8%, with broad-based growth from all categories and regions. Fine Fragrances increased 12% on a reported basis and 4% on a currency neutral basis led by strong double-digit growth in LATAM and North America. Consumer Fragrances grew 11% on a reported basis and 6% on a currency neutral basis with growth achieved in all categories. Performance was led by high-single digit increases in Home Care, Toiletries, and Hair Care. On a geographic basis, growth was broad-based, with all regions contributing positively to the results. Fragrance Ingredients grew 26% on a reported basis and 18% on a currency neutral basis, with growth in all regions as well as very strong double-digit growth in Cosmetic Active Ingredients. Fragrances segment profit increased 20% on a reported basis and 12% on a currency neutral basis driven primarily by volume growth and the benefits from cost and productivity initiatives.
IFF to Acquire Frutarom - May 7, 2018 - International Flavors & Fragrances Inc. and Frutarom today announced that they have entered into a definitive agreement under which IFF will acquire Frutarom in a cash and stock transaction valued at approximately $7.1 billion, including the assumption of Frutarom's net debt. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Frutarom's shareholders will receive for each Frutarom share $71.19 in cash and 0.249 of a share of IFF common stock, which, based on the 10-day volume weighted average price (VWAP) for IFF's common stock for the period ending May 4, 2018, represents a total value of $106.25 per share.
Evolva Provides 2017 Financial Results and Business Highlights - May 2 & March 20, 2018 - Evolva posted its financial results for the period from 1 January to 31 December 2017, and provided business highlights that illustrate how the Company is executing on its strategic transformation plan which was put in place last August. Elements of this transformation have included accelerating growth of our commercial products, building stronger R&D operations, successfully streamlining our operations and fortifying our cash balance. These elements have provided Evolva with a strong base to grow our product revenues while strengthening our world-class research and development capabilities to bring important products to market quickly.
Key business highlights -
EverSweetTM - In a joint press release, Cargill and Evolva announced the official start of the commercial production of EverSweet™ to fill customer orders. Additionally, Cargill and Evolva reached a new agreement for the EverSweet™ sweetener which replaces the existing agreements, and adds certain additional high intensity sweeteners. Under this new agreement, Evolva will receive a royalty percentage on the sales of EverSweet™, which will accrue to Evolva as soon as EverSweet™ starts generating revenues. Evolva will benefit from a significant reduction of operational and capital expenses while maintaining long term value.
Nootkatone pest control products - Evolva has filed for US EPA registration for the active ingredient nootkatone, a process that is expected to be completed by the end of 2018. In parallel, Evolva is actively engaged in discussions with leading pest control product companies to supply nootkatone for next-generation tick and mosquito products.
Resveratrol products - Following on the heels of the launch of our Veri-teTM brand, revenue growth is accelerating.
Financial highlights:
*Product sales up by 82% in 2017 to reach CHF 2.0 million
* Overall revenues were CHF 6.8 million (2016: CHF 9.6m), the decline being related to the reduced activities on contract R&D work, which is in line with our announced strategy
*Cash position of CHF 97.2 million on 31 December 2017 (31 December 2016: CHF 47.5m)
Senomyx Reports First Quarter 2018 Financial Results - 26 April 2018 - Total revenues of $3.1 million for the first quarter ended March 31, 2018 exceeded previously provided financial guidance of $3.0 million. Commercial revenues of $1.4 million met guidance for the first quarter of 2018, and represented a decrease from $2.6 million for the first quarter of 2017. Development revenues for the first quarter of 2018 decreased to $1.7 million from $1.8 million in the first quarter of the prior year. The first quarter of 2018 resulted in a net loss of $3.8 million, or $(0.08) per share, which represented an improvement over guidance of a net loss of $4.2 million, or $(0.09) per share, and a decline compared to the first quarter of 2017, which resulted in a net loss of $3.4 million, or $(0.07) per share. At March 31, 2018, Senomyx had no debt and $18.1 million in cash, which was an increase of $2.2 million from the prior quarter. The increase in cash resulted primarily from the collection of accounts receivable for royalty payments earned in 2017.
Frutarom - A Potential Target for Acquisition - 12 April 2018 - In recent days it has been reported that both International Flavors & Fragrances (IFF) or Symrise may be interested in the acquisition of Frutarom. Such an acquisition would be the largest since Givaudan's purchase of Quest from ICI in early 2007.
Givaudan 1st Qtr 2018 Sales - 10 April 2018 - In the first three months of 2018 Givaudan recorded sales of CHF 1,308 million, an increase of 5.0% on a like-for-like basis, and 5.4% in Swiss francs compared to the previous year. The Fragrance Division recorded sales of CHF 604 million, a growth of 5.7% on a like-for-like basis and an increase of 4.9% in Swiss francs. The Flavour Division reported sales of CHF 704 million, an increase of 4.5% on a like-for-like basis and 5.8% in Swiss francs. Including Vika B.V., acquired in September 2017, the growth was 7.0% in local currency. Interestingly, earnings were not reported in this release.
Givaudan acquires 40.6% of the shares in Naturex and intends to launch cash tender offer for the remaining outstanding shares - 26 March 2018 - As part of its 2020 strategy to strengthen its capabilities in natural flavour solutions for its customers, Givaudan today announced that it has entered into an agreement to acquire 40.6% of the shares of Naturex, a French public listed company, for EUR 135 per share and a total consideration of EUR 522 million. This agreement is subject to all of the appropriate regulatory approvals.
Robertet Full Year 2017 Sales - April 25, 2018 - Consolidated sales for 2017 amounted to 504 million euros, an increase of 7, 7% compared to 2016, 9.3% at constant exchange rate. This revenue, 85% of which is generated outside France, is Europe, and in Asia, according to the Group's objectives. By division, Commodities have increased by 10.6%, Perfumery by 12.4% and Aromas by 1.4%. Consolidated net profit, unaudited, is in the order of 48.5 million euros against 41.8 million the previous year, including a decrease in deferred taxes of 2 million euros.
Frutarom Full Year 2017 Sales - March 20, 2018 - In 2017 Sales grew by 18.8% to a record US$ 1,362.4 million, constant currency pro forma growth of 6.4%
In 2017 Frutarom Carried Out 12 Strategic Acquisitions, and 2 additional ones were already performed in 2018 in Exchange for a Total of US$ 390 Million
Sales from Core Activities grew by 19.1% to a record US$ 1,271.4 million, constant currency pro forma growth of 7.5%
Sales from Flavors activity grew by 21.1% to a record US$ 1,025.4 million, constant currency pro forma growth of 7.2%
Sales from Natural Specialty Fine Ingredients grew by 14.2% to a record US$ 260.1 million, constant currency pro forma growth of 11.8%
Record level profits from operating activities for 2017:
° Gross profit grew by 20.0% to US$ 525.1 million;
° EBITDA grew by 33.9% to US$ 259.6 million;
° Adjusted for nonrecurring expenses3 the EBITDA grew by 23.1% to a record 267.5 million;
° Net income grew by 36.5% to US$ 151.6 million;
A record cash flow from operations grew by 50.5% to US$ 187.5 million
Earnings per share grew by 36.0% to a record US$ 2.52 million
Frutarom Expects 2018 to be Yet Another Record Year, as it Continues to Improve its Profitability, also through Projects for Combining Plants and Resource Optimization, and the Successful Completion of the Enzymotec Acquisition. Frutarom is Progressing towards Achieving its Sales Target of US$ 2.25 B, and an EBITDA Margin from Core Activity of 23% in 2020
Symrise Full Year 2017 Sales - March 14, 2018 - Dynamic organic growth in sales - Symrise increased its sales to � 2,996.3 million (2016: � 2,903.2 million) and benefited from strong organic growth of 6.3 %. Taking portfolio effects into account - in particular the sale of the industrial activities of Pinova in December 2016 and the acquisitions of Nutraceutix, Nutra Canada and Cobell - as well as exchange rate effects, sales grew by 3.2 %.
Strong demand especially in Latin America and EAME - The largest sales growth was realized in Latin America, where sales were up by a substantial 7.6 %. Sales in North America showed a 4.1 % year-on-year decrease due to the divestment of Pinova's industrial activities in December 2016. The Asia/Pacific region achieved a modest increase of 1.4 %. With a strong 7.4 % rise in sales, the EAME region showed an even more dynamic development than in the previous year. The share of Emerging Markets in the Group's total sales was slightly higher, at 44 % (2016: 43 %). Symrise achieved an overall 7.6 % increase in sales at local currency in those countries.
High profitability maintained - Despite unfavorable currency effects, higher costs for raw materials and investments in expansion, Symrise was able to increase its EBITDA to � 630.3 million (2016 normalized: � 625.2 million). At the same time, the Group was highly profitable, with a very good EBITDA margin of 21.0 % (2016 normalized: 21.5 %). Net income of the Group increased 1.8 % to � 270.3 million (2016 normalized: � 265.5 million). Earnings per share improved to � 2.08 (2016 normalized: � 2.05). The Executive Board and Supervisory Board will therefore propose an increase in the dividend from � 0.85 to � 0.88 per share at the Annual General Meeting on 16 May 2018.
Scent & Care segment - The Scent & Care segment achieved total sales of � 1,263.1 million (2016: � 1,311.3 million). This year-on-year decrease of 3.7 % resulted from the sale of the industrial activities of Pinova in December 2016 and a slower first half of the year. Adjusted for portfolio and exchange rate effects, the segment reported healthy organic growth of 3.9 % - buoyed in particular by the strong fourth quarter, with an increase of 5.8 %. The strongest growth was posted by the Cosmetic Ingredients division. Strong demand was seen especially in the Asia/Pacific and EAME regions. EBITDA in the Scent & Care segment amounted to � 248.1 million (2016 normalized: � 257.8 million). The 3.8 % decrease reflects higher raw material costs, the sale of the Pinova industrial activities and expenses for research and development. The EBITDA margin remained stable at 19.6 % (2016 normalized: 19.7 %).
Flavor segment - Sales in the Flavor segment increased to � 1,101.9 million in the year under review (2016: � 1,015.9 million). The segment achieved very strong growth of 8.5 %. Excluding the portfolio effect from the acquisition of Cobell and currency effects, organic growth amounted to a very healthy 9.3 %. All regions and application areas contributed to the positive sales development. The segment continued the successful trend of recent years, particularly in Europe, Africa and the Middle East (EAME) as well as in North America. Growth was particularly strong in the Sweets and Beverages application areas as a result of new business with vanilla flavorings. EBITDA in the Flavor segment amounted to � 242.9 million (2016: � 233.8 million). This represents a 3.9 % increase as compared with 2016. The EBITDA margin was a very satisfactory 22.0 % (2016: 23.0 %).
Nutrition segment - Nutrition posted a substantial 9.6 % year-on-year plus in sales to � 631.3 million (2016: � 576.0 million). Adjusted for portfolio and currency effects, organic sales growth in the segment amounted to 6.5 %. The pet food application area was again one of the strongest growth drivers, with at least single-digit and sometimes even double-digit sales growth in local currency in all four regions. The segment increased its EBITDA by 4.3 % to � 139.4 million (2016: � 133.7 million). The EBITDA margin was at an outstanding 22.1 % (2016: 23.2 %).
Takasago 3d Qtr 2017-2018 Sales - February 14, 2018 - For the first 3 Qtrs of the fiscal year, consolidated net sales rose 0.5% year on year, to ¥106,057 million while Operating income during this period fell 21.2% year on year, to ¥5,453 million. Ordinary income fell 16.5% year on year, to ¥6,274 million. Net income attributable to the parent company fell 19.2% year on year, to ¥ 5,010 million.
Sensient Flavors & Fragrances Group Full Year 2017 Results - February 8, 2018 -The Flavors & Fragrances Group reported revenue of $618.8 million and $651.9 million for the full years of 2017 and 2016, respectively for Traditional Flavors & Fragrances (which excludes items such as dehydrated vegetables & colors).
T. Hasegawa1st Qtr 2017-2018 Sales Results - February 8, 2018 - T. Hasegawa's consolidated net sales were up 1.0% to ¥ 11,655 million compared to ¥ 11,542 million in the prior year Qtr. Net profit in the same perioid declined 34.9% to ¥ 1,079 million.
IFF Reports Full Year 2017 Results - Business Wire - February 14, 2018 - Full Year 2017 Consolidated Financial Highlights
Reported net sales for the full year totaled $3.4 billion, an increase of 9% from $3.1 billion in 2016. Excluding the impact of foreign exchange, currency neutral sales also increased 9% over the prior year, including approximately five percentage points related to our recent acquisitions.
Reported operating profit for the full year was $581 million versus $567 million reported in 2016, an increase of 2%. Excluding the impact of foreign exchange and those items that affect comparability, currency neutral adjusted operating profit grew 5%, principally driven by volume growth, the benefits associated with cost and productivity initiatives and acquisitions.
Reported earnings per share (EPS) for the full year was $3.72 per diluted share versus $5.05 per diluted share reported in 2016. Excluding the impact of foreign exchange and those items that affect comparability, currency neutral adjusted EPS improved 9%, driven by adjusted operating profit growth, a more favorable year-over-year effective tax rate, and lower year-over-year shares outstanding.
IFF Flavors Business Unit - On a reported basis, sales increased 9%, or $135.6 million, to $1.6 billion. Currency neutral sales grew 10% driven by growth in all categories, and the contribution of sales related to the acquisitions of David Michael and PowderPure. Flavors segment profit increased 11% on a reported basis and 14% on a currency neutral basis, driven by volume growth, the contribution of acquisitions and the benefits from productivity initiatives. EAME increased 6% on a reported basis and 8% on a currency neutral basis. North America improved 23% reflecting additional sales related to acquisitions as well as mid-single-digit growth on an organic basis. Latin America increased 7% on a reported basis and 6% on a currency neutral basis. Greater Asia increased 1% on a reported and on a currency neutral basis.
IFF Fragrances Business Unit - On a reported basis, sales increased 9%, or $146.7 million, to $1.8 billion. Currency neutral sales also improved 9%. Fine Fragrances increased 18% on a reported basis and 16% on a currency neutral basis. Consumer Fragrances grew 7% on a reported and currency neutral basis. Fragrance Ingredients grew 8% on a reported and currency neutral basis. Fragrances segment profit remained constant on a reported basis and declined 1% on a currency neutral basis as volume growth, the benefits from cost and productivity initiatives and the contribution of acquisitions was offset by unfavorable price to input costs, and higher research, selling and administrative expenses, including higher incentive compensation.
Avery Gilbert's new study, "Consumer perceptions of strain differences in Cannabis aroma" has just been published (Feb 5, 2018) - It can be downloaded here - The study examined eleven strains of cannabis purchased from licensed recreational dispensaries in Colorado. Volunteers sniffed samples and rated them on a ballot of odor descriptors. The results revealed two basic aroma profiles: One is characterized as earthy, woody, and herbal, and the other is described as citrus, lemon, sweet, and pungent.
Sniff panelist rated the citrus, lemon, sweet and pungent-smelling strains as more potent, and were willing to spend more money to purchase them. Along with my collaborator, analytical chemist Dr. Joseph A. DiVerdi, we also found that smell-based perceptions of cannabis potency are unrelated to the actual THC levels in the samples.
This study is the first ever to examine cannabis aroma with sensory evaluation techniques. It is also the first public announcement from Headspace Sensory LLC, the company I founded in 2016 to explore and commercialize the strain-specific aroma profiles of cannabis.
Givaudan Full Year 2017 Results - 26 January 2018 - Givaudan Group full year sales were CHF 5,051 million, an increase of 4.9% on a like-for-like basis and 8.3% in Swiss francs when compared to 2016.
Net income of CHF 720 million, up 11.7% year-on-year
Givaudan announces changes to the Executive Committee - 08 January 2018 - Givaudan announced today the appointment of Louie D'Amico as President of the Flavour Division and a member of the Executive Committee. Louie D'Amico will succeed Mauricio Graber, currently President of the Flavour Division, who will leave the Company to become Chief Executive Officer at Chr. Hansen, a global bioscience company. Louie D'Amico, currently Head of Flavours Americas, will work closely with Mauricio Graber to ensure a smooth transition over the coming months. The changes to the Givaudan Executive Committee will be effective 1 April 2018.
Firmenich is acquiring Natural Flavors, Inc. - Geneva, Switzerland, December 21, 2017 – Natural Flavors, Inc., a privately-held manufacturer of high-quality organic certified natural flavors. Headquartered in Newark, NJ, U.S.A., Natural Flavors is recognized as a pioneer in organic flavoring, including having developed and commercialized the first organic certified flavors in North America during the late 1990s. Today, Natural Flavors offers an extensive range of organic certified and natural flavor solutions to meet the needs of food and beverage customers in high growth, in-demand categories.
Symrise is expanding market position in Brazil through acquisition of Citratus Fragrâncias Indûstria e Comércio Ltda – December 6, 2017
Huabao Group F&F 6 Month 2017-2018 Sales - for the period ending September 30, 2017 - November 21, 2017 - To date the F&F sales for Huabao Group (which includes Flavors, Fragrances and Aroma raw materials) were RMB 1,235.7 million (+11.7%) as compred to RMB 1,106.7 million in the prior year. The F&F segment sales are about 75% of Huabao's total sales, the remainder being primarily tobacco products.
Frutarom 9 Month 2017 Sales - Haifa, Israel 2017 - Frutarom's sales in the first nine months of 2017 rose 17.1% to a record US$ 1,004.9 million compared with US$ 858.0 million in the same period last year, reflecting 6.0% year-over-year growth in pro-forma terms on a constant currency basis. Changes in the exchange rates of currencies in which the Company operates as against the US dollar boosted sales by 0.6%. Sales for Frutarom's core activities (its Flavors activity and Specialty Fine ingredients activity) rose 17.2% in the first nine months of 2017 to reach a record US$ 938.4 million compared with US$ 800.6 million in the same period last year, reflecting 7.2% year-over-year growth in pro-forma terms on a constant currency basis. Changes in exchange rates boosted results by 0.3%. Sales from the Flavors activity rose 18.2% to reach US$ 746.5 million in the first nine months of 2017 as against US$ 631.7 million in the same period last year, reflecting 6.2% year-over-year growth in pro-forma terms on a constant currency basis. Currency effects boosted results by 0.4%. Sales from Specialty Fine Ingredients activity rose 15.1% to US$ 200.2 million in the first nine months of 2017 compared with US$ 174.0 million in the same period last year, reflecting 13.0% yearover-year growth in pro-forma terms on a constant currency basis. Currency effects negatively impacted sales by 0.5%. Sales from Trade and Marketing (which does not constitute part of Frutarom's core activities) rose 15.8% to reach US$ 66.5 million in the first nine months of 2017 compared with US$ 57.4 million in the same period last year, Contributing to the increase were the added Trade and Marketing product sales of Piasa of Mexico which was acquired in December 2016 and the currency effects which boosted sales by 4.8%, In constant currency and pro-forma terms, Trade and Marketing sales decreased by 8.9%.
In Q3 2017: - Sales grew by 19.6% to a record US$ 358.8 million.
o Gross profit grew by 21.5% to US$ 138.4 million; 38.6% gross margin
o EBITDA grew by 27.2% to US$ 71.1 million; 19.8% EBITDA margin
o Net income grew by 26.7% to US$ 40.8 million; 11.4% net margin
o Earnings per share grew by 26.5%;
Takasago 2d Qtr 2017-2018 Sales - November 9, 2017 - Takasago sales for their 2d fiscal quarter ending September 30, 2017 were 71,518 million Yen versus 70,691 million Yen in the prior year (+1.2%).
Symrise 9 Month 2017 Sales - November 8, 2017 - Symrise achieved strong organic sales growth of 6.5 % in the period from January to September, including a 9.1 % increase in the third quarter. Considering portfolio effects – namely the sale of the industrial activities of Pinova in December 2016 and the Nutraceutix and Cobell acquisitions – as well as exchange rate effects sales were up 3.9 % to � 2,278.4 million (9M 2016: � 2,192.3 million). Third quarter sales were impacted by an unfavorable exchange rate environment, especially the devaluation of the US dollar against the euro. Symrise continued to operate highly profitable in the first nine months of the year. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 1.0 % to � 485.2 million (EBITDAN 9M 2016: � 480.3 million).
Scent & Care - Scent & Care posted a 3.3 % organic sales increase in the first nine months of the year. In the third quarter, organic growth reached even 7.7 %. Taking into account the sale of Pinova Inc., sales in the segment amounted to � 960.1 million; as expected they were 3.7 % lower than in the first nine months of 2016 (9M 2016: � 997.2 million). The strongest growth in the segment was achieved by the Cosmetic Ingredients division.
Aroma Molecules - Adjusted for the Pinova portfolio effect, the Aroma Molecules division posted moderate growth. Positive signals mainly came from the national markets in the USA, Indonesia, Japan and China. The integration of the Pinova fragrance business continued to strengthen the division through a broader portfolio of unique, natural ingredients.
The Fragrance division achieved moderate growth in the first nine months of the year, with good growth momentum in the third quarter.
The Flavor segment, which includes taste applications, achieved organic growth of 10.0 % in the first nine months. In the third quarter it reached even 12.7 % growth. Considering exchange rate effects and the Cobell acquisition, the segment reported a sales plus of 8.6 % to � 842.6 million (9M 2016: � 775.9 million).
The Nutrition segment, which includes the Diana division with applications for food, pet food and baby food as well as probiotics, achieved an organic growth of 7.8 % in the first nine months. In the third quarter, organic sales growth amounted to 5.8 %. Considering portfolio and exchange rate effects, the segment had a 13.5 % increase in sales in the first nine months to � 475.7 million (9M 2016: � 419.2 million). The strongest contributions came from the Pet Food business unit, which posted high single-digit or even double-digit local currency sales increases in all four regions.
IFF 9 Month 2017 Sales - November 6, 2017 - IFF 9 Month sales increased 8.1% to $2,544.1 million from $2,353.8 million in the prior year. 3d Qtr sales were up 12.3% to 872.9 million. 9 month net income increased 3.3% to 335.8 million. 3d Qtr increased 22.8% to 110.3 million.
IFF Fragrances Business Unit - On a reported basis, sales increased 13%, or $53.0 million, to $463.1 million while currency neutral sales improved 12%. Overall growth was broad-based, with a balanced contribution between organic and acquired business. Regionally, growth was strongest in EAME and Latin America – increasing double-digits – followed by mid-single-digit growth in Greater Asia. Fine Fragrances improved 20% on a reported basis and 18% on a currency neutral basis, inclusive of additional sales related to the acquisition of Fragrance Resources. Performance was driven by strong new wins in EAME, Greater Asia and North America as well as improved volume trends in Latin America. Consumer Fragrances grew 12% on a reported basis and 11% on a currency neutral basis, with a balanced contribution from organic business and additional sales related to the acquisition of Fragrance Resources. Within Consumer Fragrance, nearly all categories achieved growth, led by double-digit growth in Home Care and high-single-digit growth in Fabric Care. Fragrance Ingredients grew 9% on a reported basis and 8% on a currency neutral basis, with double-digit growth in Latin America and EAME as well as double-digit growth in cosmetic active ingredients. Fragrances segment profit increased 10% on a reported basis and 6% on a currency neutral basis led by volume growth, the contribution of acquisitions and the benefits from productivity initiatives.
IFF Flavors Business Unit - On a reported basis, sales increased 12%, or $42.9 million, to $409.8 million while currency neutral sales grew 12%. Overall growth was driven by additional sales related to the acquisition of David Michael, as well as mid-single-digit organic growth, where all categories improved year-over-year. EAME increased 12% on both a reported and currency neutral basis, inclusive of additional sales related to the acquisition of David Michael, with the strongest growth in Beverage, Savory and Dairy. On a geographic basis, Western, Central and Southeast Europe as well as Africa and the Middle East all reported strong growth. North America grew 28% reflecting additional sales related to the acquisition of David Michael and PowderPure as well as high-single-digit growth on an organic basis. Growth was strongest in Savory and Beverage, both driven by new win performance. Latin America remained constant on a reported basis and increased 1% on a currency neutral basis, as growth in Colombia and Argentina more than offset softness in Brazil. Greater Asia grew 2% on both a reported and currency neutral basis, principally driven by growth in India and Thailand with Savory being the strongest category. Flavors segment profit grew 18% on a reported basis and 19% on a currency neutral basis, driven by volume growth, the contribution of acquisitions, and the benefits from productivity initiatives
Sensient Flavors & Fragrances Group 9 month 2017 Sales - Milwaukee, October 19, 2017 - The Flavors & Fragrances Group reported revenue of $568.4 million and $608.7 million in the first nine months of 2017 and 2016, respectively. Segment operating income was $90.3 and $95.5 million in the first nine months of 2017 and 2016, respectively. Foreign currency translation reduced revenue and operating income by approximately 1% each, in the first nine months of 2017. The Flavors & Fragrances Group reported third quarter revenue of $196.0 million, a decrease of approximately 2% compared to $200.8 million reported in the comparable period last year. Segment operating income was $33.0 million, an increase of approximately 2% compared to $32.4 million reported in the third quarter of 2016. The Group's higher profit was a result of solid performances in the Bionutrients, North America Savory, Europe Savory, Latin America, North America Beverage and Natural Ingredients businesses. Foreign currency translation increased revenue by approximately 1% in the quarter and had a minimal impact on operating income. It should be noted that the above sales figures may include items not normally considered Flavors & Fragrances - mainly natural ingredients such as dehydrated vegetables, which historically have been about 18%+ of reported sales.
Notes from Scent and Chemistry - On Patchouli - October 28, 2017 - a most comprehensive review on the essential oil of patchouli, Pogostemon cablin (Blanco) Benth., by Teris A. van Beek and Daniel Joulain, complementing chapter 7.6. on Patchouli Oil (pp. 251), and updating especially on the situation after the introduction of Clearwood™ (Firmenich), which is detailed in section 5.2 (p. 35). van Beek and Joulain clearly describe what Clearwood™ is, and what it is not (a P. cablin extract). They also touch upon the dispute whether perfectly pure (–)-patchoulol was odorless or not, as we detailed on S&C p. 253, and we are happy for the confirmations. As van Beek and Joulain also mention, we indeed (still) believe that (partial) anosimies do have their share in some confusion about the odor of patchouli oil. The article is open access, so free to download from Wiley (DOI: 10.1002/ffj.3418), and totally worth a read: http://onlinelibrary.wiley.com/doi/10.1002/ffj.3418/full
Evolva shareholders approve EGM proposal - 26 October 2017
Givaudan 2017 9 Month results - 10 October 2017 - In the first nine months of 2017 Givaudan recorded sales of CHF 3,757 million, an increase of 3.5% on a like-for-like1 basis and 6.8% in Swiss francs compared to the previous year. Fragrance Division sales were CHF 1,740 million, an increase of 2.2% on a like-for-like basis and an increase of 2.5% in Swiss Francs. Flavour Division sales were CHF 2,017 million, an increase of 4.7% on a like-for-like basis and an increase of 10.9% in Swiss Francs. Total sales of Fragrance compounds (Fine Fragrances and Consumer Products combined) increased by 2.6% on a like-for-like basis. In Swiss francs, sales of compounds increased by 3.0% to CHF 1,515 million from CHF 1,472 million in 2016.
The Flavour Division reported sales of CHF 2,017 million, a growth of 4.7% on a like-for-like basis and an increase of 10.9% in Swiss Francs. Givaudan successfully closed the acquisition of Vika B.V. acquired in September 2017. Including all acquisitions for the comparable period the growth was 12.5% in local currency. The sales performance was driven by new wins and strong business expansion in North America, Europe, Middle East and Africa. Asia Pacific grew whilst Latin America experienced a decline compared to 2016, against strong comparables, largely driven by challenging market conditions in Brazil. From a segment perspective, Dairy, Savoury and Beverages all contributed to the positive sales development.
Firmenich Full Year 2016-2017 Sales - Geneva, Switzerland, October 5th, 2017 – Fiscal year 2017 (FY17) was a year of strategic achievements for Firmenich.
Firmenich recorded 3.34 billion Swiss francs (CHF) in net sales, an increase of +4.4% in CHF versus the previous year. With all its Business Units posting steady growth, the Group further consolidated its number one position in Fine Fragrance and Ingredients.
Taking its legacy of excellence forward, the Company evolved its Board of Directors, starting with the appointment of Patrick Firmenich as Chairman of the Board and Barbara Kux as Vice-Chair. The Company also welcomed two new board members: Richard Ridinger, CEO of Lonza, and Pierre Bouchut, COO of Ahold Delhaize.
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.
Firmenich's growth was fueled by leading innovation and creativity in many ways this year.
In line with the United Nations Sustainable Development Goals (UN SDGs) and its commitment to the United Nations Global Compact's 10 principles, Firmenich put its innovation to work to address key societal challenges, such as hygiene and sanitation, health and nutrition, and climate change.
To address today's sanitation crisis, the Company successfully launched breakthrough technologies that effectively counter malodor, in partnership with the Bill & Melinda Gates Foundation, to reinvent toilets at the base of the pyramid.
To enable responsible nutrition solutions, Firmenich advanced its leading taste modulation technologies to reduce sugar, salt, and fat without compromising on taste. The Company estimates that its solutions removed 100,000 metric tonnes of sugar, equivalent to 500 billion calories, from its customers' food and beverage brands this year.
Gaining traction with its pioneering bio-based ingredients, the Group reached significant growth with its latest molecule Ambrox® Super, building on the success of Clearwood®. Beyond their unique olfactive profiles, these molecules deliver optimized environmental performances.
Strengthening its prestigious circle of world-class creators, Firmenich proudly appointed two perfumers, Nathalie Lorson and Tony Reichert, as Master Perfumers, recognizing their iconic body of work and legacy in developing the Company's next generation of talent.
The Group's creativity was further celebrated by the industry this year when Harry Frémont was honored with the Fragrance Foundation's Lifetime Achievement Award. In France, Perfumer Fabrice Pellegrin was named Perfumer of the Year by Cosmétiquemag for his best-selling creations and mastery of Firmenich's natural ingredients.
Recognizing the Group's leadership in responsible sourcing in Indonesia, Firmenich was honored to receive the country's Presidential Award, acknowledging its positive impact in enhancing the livelihoods of patchouli farming communities.
The Group acquired a majority stake in Essex Laboratories this year to lead in natural mint solutions. With a common commitment to responsible sourcing, Firmenich and Essex combine their unique innovation to deliver top-quality sustainable and traceable mint.
To build the most sustainable and traceable value chain for its natural ingredients, Firmenich hosted its third Naturals Together event in Singapore. Working hand in hand with its partners at the source, key experts, and customers, the Company harvests its most pristine ingredients from nature sustainably.
T. Hasegawa Full Year 2016-2017 Sales Results - September 30, 2017 - T. Hasegawa's consolidated net sales were up 0.9% to ¥ 48,001 million compared to ¥ 47,591 million in the prior year. Net income for the period was up 18.2% to ¥ 4,299 million.
Human perception goes digital at the Campus of the Senses in Erlangen - 1 September, 2017 - Future multisensory digital systems will have the ability to understand and simulate human sensory perception. The aim of the Campus of the Senses in Erlangen is to conduct fundamental research into the digitalization of human sensory experiences and to derive new technologies and services from this knowledge. Future multisensory digital systems will have the ability to understand and simulate human sensory perception. The aim of the Campus of the Senses in Erlangen is to conduct fundamental research into the digitalization of human sensory experiences and to derive new technologies and services from this knowledge. The Campus of the Senses is a joint initiative of the Fraunhofer Institutes IIS and IVV in cooperation with Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU).
The trend toward digitalization, until now mostly associated with industry, is increasingly spreading to all other areas of life, including people's everyday activities. The Campus of the Senses in Erlangen intends to digitally recreate human senses such as sight and hearing, and especially the chemical senses of taste and smell. For instance, machines could be designed to help people who have lost their sense of taste and smell due to an infection determine whether food has gone bad.
Our understanding of the complex processes of human sensory perception is still relatively limited, and many questions remain unanswered. How do the different senses interact? Do people react differently to movies if they are simultaneously exposed to contradictory smells? Will I experience less stress at work if disturbing odors are replaced by more pleasant ones?
Everyday help for people with impaired sensory perception
Many of the neurological processes involved in taste and smell perception are unconscious. With the support of machines, it might be possible to enhance people's conscious awareness of their environment, and hence enable them to respond more appropriately to possible risks and dangers. The challenge lies in designing machines capable of recording and interpreting human sensory perceptions and transforming them into digital form. The Campus of the Senses addresses precisely these topics.
The Campus of the Senses in Erlangen adds new sense to the digital transformation of businesses
Established companies and startups in almost any sector of business are invited to work together with the Campus of the Senses in Erlangen. With the support of research partners, they can use the facilities to develop new methods and technologies for collecting and interpreting empirical data on the human senses and sensory perceptions, including the development of sensory aids and the analysis of human responses to sensory stimuli.
Human-centered research in Erlangen
The planned infrastructure of the Campus of the Senses in Erlangen consists of three laboratories, each focusing on a different area of research, coordinated by a central office. Scientists with expertise in many different areas, including engineering, medicine, chemistry and neuroscience, can work here hand in hand to build knowledge, develop interdisciplinary expertise, and promote technology transfer in the field of sensory research and development. This will create new opportunities for scientific leadership: From the development of intelligent sensors and algorithms to extended man-machine interfaces and multi-sensory systems for stimulation.
The long-term goal of the Campus of the Senses in Erlangen is to secure Germany's competitiveness by reinforcing its pioneering, international role in the field of the digitalization of the senses.
The campus will be built up over a period of five years, during which the central office will be established and the various laboratories and the technical infrastructure will go into operation. More importantly, a platform for joint creative research projects will be established to allow new methods and technologies to be developed beyond the confines of traditional scientific disciplines.
The Campus of the Senses in Erlangen is a joint initiative of the Fraunhofer Institutes IIS and IVV in cooperation with Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU). The kick-off will be held at Fraunhofer IIS in Erlangen on September 15, 2017.
Should you have questions or require further information, please feel free to contact us. For current and archived news and events, please visit www.iis.fraunhofer.de/press. Kind regards, Thoralf Dietz, Head of Corporate Communications
Takasago 1st Qtr 2017-2018 Sales - August 9, 2017 - Takasago sales for their 1st fiscal quarter ending June 30, 2017 were 36,035 million Yen versus 36,230 million Yen in the prior year.
Evolva announces major restructuring - 30 August 2017 – EvolvaEvolva announced in its half year results further details of its future intended strategic direction to aggressively grow product revenues and accelerate the path to a cash flow break-even position. In order to exploit the full potential of its own products in various applications and geographies, the company will enter commercial collaborations with market leading companies in addition to selected direct sales. It will also maintain a capital-light manufacturing strategy and continue to strengthen its unique and highly differentiated technological capabilities. Together, we believe these elements will generate significant shareholder value.
Evolva has undertaken a review of its operational structure to best fit its goals, details of which are announced below.
Evolva will undertake a major site consolidation over the coming months, centralizing research and development activities predominantly at its Reinach headquarters in Switzerland. This will also allow the company to gain maximum synergies across all its products and pipeline programs, to simplify and reduce back office processes, and to reduce facility costs.
As a consequence, Evolva is changing its management structure. The first phase of this transformation has already been announced with the appointment of a new Chief Executive Officer, Simon Waddington, and a new Chief Commercial Officer, Scott Fabro. Today we announce the second phase with the departure of 3 members of the Group Management Team (GMT).
Evolva Chief Business Officer Pascal Longchamp, Chief Scientific Officer Jørgen Hansen and Managing Director & CEO of Evolva India Panchapagesa Murali will step down from the company's GMT by or before the end of the year while providing support to the transition process. The CEO will lead R&D on an interim basis during the search for a Chief Technology Officer, a process that has been initiated. Panchapagesa Murali will aim to spin off Evolva's Chennai branch into an independent R&D services group in the course of Q4 of this year.
Evolva will reduce its overall headcount from currently 178 (FTEs) to approximately 100. We anticipate that Evolva's annual operating expenses run rate will decrease by approximately 30% or roughly CHF 11 million developing full effect in Q2 of 2018. Evolva will take a one-time charge in 2017 against its Profit and Loss Statement of around CHF 5 million and estimates capital expenditures for the centralization of its laboratories and small-scale fermentation equipment to equal around CHF 1 million with the majority being spent in Q4 2017. Guidance on product revenues, which we estimate will more than triple in 2017 over 2016, will not be affected by the restructuring.
Evolva CEO Simon Waddington said, "Evolva is undertaking the next logical step in its own evolution. Both our leadership and operations will be significantly optimized to ensure that our products achieve their full potential and our innovation engine remains strong. The choices we make today will strengthen our ability to deliver commercial success, realize future innovation breakthroughs, and produce shareholder value. I would also like to personally thank all employees as well as our departing management team members, Pascal Longchamp, Jørgen Hansen and Panchapagesa Murali, for their invaluable contributions to Evolva over many years."
Frutarom 1st Half Qtr 2017 Sales - Haifa, Israel – August 17, 2017 - In First Half 2017: Sales grew 15.8% to a record US$ 646.1 million with a Pro-forma constant currency growth of 6.1%
- Sales from core activities grew 15.6% to a record US$ 601.8 million with a Pro-forma constant currency growth of 7.1%
- Sales from Flavor activities grew 16.4% to a record US$ 473.6 million.
with a Pro-forma constant currency growth of 6.3%
- Sales from Specialty Fine Ingredients activities grew 13% to a record US$ 133.2 million with a Pro-forma constant currency growth of 10.8%
- Record-level profits: Gross profit grew by 16.2% to US$ 247.9 million;
- EBITDA grew by 29.3% to US$ 122.6 million;
- Net income grew by 36.9% to US$ 70.9 million;
- Earnings per share grew by 36%
2d 2017 Qtr sales grew 14.4% to a record US$ 343.6 million. 2d Qtr Pro-forma constant currency growth was 6.8%.
McCormick & Company Inc. (NYSE: MKC), a global leader in flavor, today announced that it has signed a definitive agreement to acquire Reckitt Benckiser's Food Division ("RB Foods") from Reckitt Benckiser Group plc ("RB") for $4.2 billion, subject to certain customary purchase price adjustments.
Sensient Flavors & Fragrances Group 1st Half 2017 Sales - Milwaukee, July 20, 2017 - The Flavors & Fragrances Group reported revenue of $185.6 million and $209.5 million in the second quarters of 2017 and 2016, respectively. Operating income was $28.5 million, in the quarter compared to $35.5 million in last year's quarter. The results from last year's second quarter included a $2.7 million benefit from the sale of an import right. The Group was also impacted by operational issues related to the wind-down of restructuring activities which were largely completed during the quarter. Foreign currency translation reduced revenue and operating income by approximately 2% and 1%, respectively, in the quarter.
In the first six months of 2017, the Flavors & Fragrances Group reported revenue of $372.4 million compared to $408.0 million in the first six months of 2016. Segment operating income was $57.3 million in the first six months of 2017 and $63.1 million in the first six months of 2016. Foreign currency translation reduced revenue and operating income by approximately 2% and 1%, respectively, in the first six months of 2017.
Givaudan 2017 Half year results - 20 July 2017 - Givaudan Group sales for the first six months of the year were CHF 2,483 million, an increase of 2.3% on a like-for-like basis and 6.4% in Swiss francs. Fragrance Division sales were CHF 1,137 million, an increase of 0.1% on a like-for-like basis and 0.4% in Swiss francs. Flavour Division sales were CHF 1,346 million, an increase of 4.4% on a like-for-like basis and 12.0% in Swiss francs. Net income for the first six months of 2017 was CHF 384 million compared to CHF 368 million in 2016, an increase of 4.5%. This results in a net profit margin of 15.5% versus 15.7% in 2016. Basic earnings per share were CHF 41.70 versus CHF 40.00 for the same period in 2016.
Givaudan to acquire Vika B.V. - 11 July 2017 - Givaudan today announced that it is acquiring Vika B.V. to strengthen its portfolio of natural dairy solutions. Vika B.V. offers a range of natural dairy ingredients, fonds and stocks, as well as meat and plant based extracts to customers in the food and beverage industry. With headquarters in the Netherlands, Vika has also facilities in Belgium, the UK, and New Zealand, employing globally over 200 employees. While terms of the deal have not been disclosed, Vika's business would have represented approximately EUR 64 million of incremental sales to Givaudan's results in 2016 on a proforma basis. Givaudan plans to fund the transaction from existing resources. The planned acquisition remains subject to formal approvals from the relevant antitrust authorities. The transaction is expected to close in the second half of 2017.
Neil Goldsmith is out as CEO and Board member of Evolva - 6 July 2017 – Evolva today announces the departure of CEO Neil Goldsmith and his succession by the current Chief Operating Officer (COO), Simon Waddington. Since co-founding Evolva, Neil Goldsmith has been instrumental in Evolva's development over the last thirteen years, moving the company from a pharmaceutical oriented biotech start-up to a listed business developing and selling specialty ingredients for health, wellness and nutrition markets. Neil's entrepreneurial approach has led to the launch by Evolva of products such as nootkatone and resveratrol, and the advancement of best-tasting stevia products to an anticipated launch in 2018, as communicated earlier this year.
Evolva's Board and executive management have recently determined that the near-term focus needs to be on growing the market opportunity for Evolva's products and delivering attractive margins. This more focused approach is not a natural fit with Neil's entrepreneurial strengths, something recognised by both Neil and the Board. As a consequence Neil and the Board have mutually agreed that Neil will step down as CEO and member of the Evolva Board with immediate effect.
Neil will be succeeded by Simon Waddington, currently COO of Evolva. Simon had previously been the CEO of Abunda Inc. until its acquisition by Evolva in 2011 upon which he joined the management team. His background and experience is ideally suited to the next phase of Evolva's evolution.
Firmenich to Acquire Agilex Fragrances - Geneva, Switzerland, June 14th, 2017 – Firmenich today announced that it is acquiring Agilex Fragrances, a leading fragrance company in North America serving mid-sized customers. Headquartered in Piscataway, New Jersey, U.S.A, Agilex Fragrances is recognized for its impressive track record in designing creative fragrances, as well as its industry-leading supply chain with best-in-class speed-to-market. Furthering its operational excellence, the Group recently launched a new, state-of-the-art manufacturing center in Somerset County, New Jersey with highly automated and flexible processes. "I am delighted to be welcoming Agilex Fragrances within the Firmenich Group," said Patrick Firmenich, Chairman of the Board, Firmenich. "With their established customer base, recognized best-in-class service levels and proven operational excellence for mid-sized customers in North America, they perfectly complement our Fragrance business." "By joining the Firmenich Group, with its global reach and cutting edge creativity and research, we will take our company to new heights," commented Ray Hughes, CEO, Agilex Fragrances. "Our shared ambition is to design unique fragrances for our customers while furthering our industry-leading agility and speed-to-market."
"Agilex's fit-for-purpose business model is a winning blueprint to serve mid-sized businesses, combining proprietary, tailored solutions with an agile service model," added Gilbert Ghostine, CEO Firmenich. "I look forward to seeing how our global creativity and innovation capabilities, as well as, consumer understanding will open up new opportunities for Agilex and their customers."
Upon closing, Agilex Fragrances will be operating as a stand-alone entity and will continue to design world-class fragrance solutions for mid-sized customers. With the new manufacturing center's latest automated compounding technology and flexible processes, Agilex Fragrances will take its innovation and turnaround times to new levels of excellence.
Financial terms of the deal have not been disclosed. The completion of this transaction is subject to clearance by the relevant regulatory authorities and is expected to close prior to year-end 2017.
Firmenich appoints Julien Firmenich as Head of Ingredients - Geneva, Switzerland, June 12th, 2017 – irmenich is pleased to announce the appointment of Julien Firmenich as Vice President Sales, Ingredients. In this role, he will lead the Ingredients Business Unit with a focus on breakthrough innovation, creativity and long term value creation. Based in Geneva, he will report directly to Armand de Villoutreys, President of Perfumery & Ingredients effective July 1st.
Frutarom 1st Qtr 2017 Sales - Haifa, Israel – May 24, 2017 - Frutarom's sales in the first quarter of 2017 rose 17.4% to a record US$ 302.5 million compared with US$ 257.7 million in the parallel period, reflecting 5.3% year-over-year growth on a pro-forma and constant currency basis. Changes in the exchange rates of currencies in which the Company operates as against the US dollar had a 0.4% negative impact on sales growth in pro-forma terms compared with Q1 2016. Sales for Frutarom's core activities (Flavors activity and Specialty Fine Ingredients activity) rose 17.7% in Q1 2017 to reach a record level US$ 283.5 million compared with US$ 240.8 million in the same quarter last year, reflecting 6.6% year-over-year growth on a pro-forma and constant currency basis. Changes in exchange rates had a negative 1.0% impact on results in pro-forma terms. Sales for Flavors rose 20.3% in Q1 2017 to reach US$ 219.4 million in Q1 2017 as against US$182.4 million in Q1 2016, reflecting 6.6% year-over-year growth on a pro-forma and constant currency basis. Currency effects negatively impacted results in pro-forma terms by 0.9%. Sales for Specialty Fine Ingredients rose 10.8% to US$ 66.8 million in Q1 2017 compared with US$ 60.2 million in Q1 2016 and reflect 7.6% year-over-year growth on a pro-forma and constant currency basis. Currency effects negatively impacted sales by 1.3% in pro-forma terms. In Q1 2017 Frutarom achieved record quarterly results in sales, gross profit, operating profit, EBITDA, net income, earnings per share and cash flow from operating activities. These record results were achieved thanks to the profitable internal growth combined with the acquisitions made and the beginning of contributions from the merger activities and efficiency measures. Gross profit for core businesses (which include the Flavors activity and the Specialty Fine Ingredients activity) rose 17.1% to reach US$ 111.6 million (gross margin of 39.4%) in Q1 2017 as compared with US$ 95.3 million (gross margin of 39.6%) in Q1 2016. Adjusted for non-recurring expenses, gross profit for core businesses rose 16.1% to reach US$ 112.4 million (gross margin of 39.6%) as compared with US$ 96.8 million (gross margin of 40.2%) in Q1 2016. Operating profit for core businesses rose 50.1% to reach US$ 44.8 million (operating margin of 15.8%) in Q1 2017 as compared with US$ 29.9 million (gross margin of 12.4%) in Q1 2016. Adjusted for non-recurring expenses, operating profit for core businesses rose 23.8% to reach US$ 45.6 million (operating margin of 16.1%) as compared with US$ 36.9 million (operating margin of 15.3%) in Q1 2016.
Senomyx Confirms Previously Announced Results of 2017 Annual Meeting - May 22, 2017 - Senomyx, Inc. today confirmed that Senomyx shareholders voted in accordance with the Company's recommendation to re-elect the full Board at the Company's 2017 Annual Meeting of Shareholders ("Annual Meeting") held on May 11, 2017. The Concerned Shareholders and Nominees of Senomyx ("CSNS") group has acknowledged that a quorum was present at the 2017 Annual Meeting and that the Company's nominees were duly re-elected to the Board. The CSNS group has withdrawn its nominations and proxy contest effective immediately, and has agreed to a customary three-year standstill with the Company.
Senomyx - Results of 2017 Annual Meeting - May 17, 2017 - The Company Believes All Board Director Nominees were Duly Reelected. Dissident Shareholders Attempted to Subvert the Election by Intentionally Breaking Quorum. Senomyx to Pursue Legal Action to Affirm Election Results.
Takasago Full Year 2016-2017 Sales - May 15, 2017 - Takasago sales declined 3.5% to ¥ 136,764 million from ¥ 141,660 in the prior year ending March 31. Net income increased 29.7% to ¥ 6,327 million from ¥ 4,880 million in the prior year.
Symrise 1st Qtr 2017 Sales - May 9, 2017 - The Symrise Group generated sales of � 765.2 million in the first quarter (Q1 2016: � 731.8 million). This represents an increase of 4.6 % in reporting currency compared to the first quarter of 2016. Adjusted for portfolio effects, in particular the sale of Pinova Inc. in December 2016, and for exchange rate effects, Group sales increased organically by 5.3 %. The Scent & Care segment achieved sales of � 333.2 million in the first quarter (Q1 2016: � 344.3 million). Due to the sale of Pinova Inc. in December 2016, sales decreased by 3.2 % compared to the prior-year quarter. Adjusted for portfolio effects from the Pinova sale, the segment recorded organic growth of 1.1 %. After adjustment for the Pinova portfolio effect, the Aroma Molecules division posted the strongest first-quarter sales growth within the Scent & Care segment. Growth drivers were in particular the high demand for fragrance ingredients and menthol. The Flavor segment, which includes aroma applications, generated sales of � 270.2 million (Q1 2016: � 250.2 million). This represents an increase of 8.0 % as compared to the prior-year quarter. Organic growth stood at 8.8 %. The Nutrition segment, which includes the Diana division, with applications for foods, pet food and baby food as well as probiotics, achieved strong growth and a 17.8 % increase in sales to � 161.8 million (Q1 2016: � 137.3 million). Excluding portfolio effects, the segment experienced an organic sales increase of 9.6 %.
IFF 1st Qtr 2017 Sales - May 9, 2017 - Reported net sales for the first quarter totaled $828.3 million, an increase of 6% from $783.3 million for the first quarter of 2016. Excluding the impact of foreign exchange, currency neutral sales increased 7% over the prior year, including approximately five percentage points related to our recent acquisitions. Reported operating profit for the first quarter was $137.4 million versus $169.9 million reported in 2016. Excluding the impact of foreign exchange and those items that affect comparability, currency neutral adjusted operating profit grew 3% as acquisitions, volume growth, and cost savings initiatives more than offset unfavorable price to input costs as well as unplanned expenses, including unfavorable manufacturing variances, bad debt, a product recall and a litigation loss. Net income declined 2% to $115.8 million. Fragrances Business Unit - On a reported basis, sales increased 3%, or $11.3 million, to $422.1 million. Currency neutral sales also improved 3% led by growth in Fine Fragrances, Fabric Care and Fragrance Ingredients. Fine Fragrances improved 10% on a reported basis and on a currency neutral basis, inclusive of additional sales related to the acquisition of Fragrance Resources. Consumer Fragrances increased 1% on a reported and 2% on a currency neutral basis, principally driven by the additional sales related to the acquisition of Fragrance Resources and low single-digit growth in Fabric Care. Fragrance Ingredients grew 1% on a reported basis and 2% on a currency neutral basis. Fragrances segment profit decreased 8% on a reported basis and 6% on a currency neutral basis, as volume growth and the benefits from productivity initiatives were more than offset by unfavorable price to input costs, as well as several unplanned expenses. Flavors Business Unit - On a reported basis, sales increased 9%, or $33.7 million, to $406.2 million, while currency neutral sales grew 10% with broad-based organic growth across all regions, as well as the contribution of sales related to the David Michael acquisition. Flavors segment profit grew 7% on a reported basis and 12% on a currency neutral basis, led by volume growth, the benefits from productivity initiatives and the contribution of the David Michael acquisition.
A Summary of Activists Accusations of Conflicts of Interest at EFSA (European Food Safety Authority) - May 4, 2017
Senomyx, Inc. Proxy - Annual Meeting is May 11, 2017 - As control of the Senomyx Board of Directors is being challenged by a group of "Dissident Nominating Stockholders" (which dissidents have purchased less than 0.00001%, of Senomyx outstanding common stock) it should be an interesting meeting. Senomyx has been a pioneer in our scientific knowledge of taste and odor receptors - as well as developing sweetness and savory taste and cooling modulators.
Sensient 1St Qtr 2017 Sales - Milwaukee, April 26, 2017 - For the 1st Qtr 2017, the Sensient Flavors & Fragrances Group reported revenue of $186.9 million, a decrease of approximately 5.8% from the $198.5 million in 2016. 1st Qtr Operating income increased to $28.8 million in 2017, from $27.6 million in 2016. Certain restructuring and other costs ocurred in this year's first quarter principally related to non-cash losses from the divestitures of a European savory ingredient facility and certain related business lines, and the Company's European Natural Ingredients business, which primarily sells dehydrated vegetables. It should be noted that the above sales figures may include items not normally considered Flavors & Fragrances - mainly natural ingredients such as dehydrated vegetables, which historically have been about 18%+ of reported sales.
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Publications from our Group
Chemoreception and Tobacco - a presentation to the Centers for Disease Control and Prevention (CDC) - Atlanta Georgia. With the changing landscape of the Global tobacco industries pursuit of safer products, it is appropriate to review factors of tobacco history as well as some of the chemistry of tobacco products. We hope the information provided here will be of general interest.
FDA bans 7 synthetic food flavorings - C&EN Octobber 9, 2019 - The bans go into effect on Oct. 9 when FDA publishes the final rule in the Federal Register, but FDA does not intend to enforce the rule until Oct. 9, 2020, to give manufacturers time to reformulate their products. Each of the six synthetic flavorings has a natural counterpart used to flavor foods. For example, eugenyl methyl ether is found in basil and pyridine occurs in coffee. These naturally occurring substances are not affected by the bans—they can still be extracted from food and used as flavoring agents.
FDA Food Additive Regulations; no longer authorize the use of benzophenone, ethyl acrylate, eugenyl methyl ether, myrcene, pulegone, and pyridine as synthetic flavoring substances for use in food.- October 9, 2018
FEMA Addresses FDA Decision on NGO Petition on Removal of 7 Synthetic Flavoring Substances - October 9, 2018
Halloween - and that means a variety of pumpkin spice recipes are beginning to appear, from Latte's, to pies as well as cookies and other products. A typical pumpkin spice blend would consist of (4 teaspoons ground cinnamon, 2 teaspoons ground ginger, 1 teaspoon ground cloves & 1/2 teaspoon ground nutmeg), with perhaps a little vanilla extract or maple flavoring. But for those interested in the analysis of the aroma of raw pumpkin determined by our group - Look here
Art & Olfaction
Olfaction - A Review.
Vertically Assessing Value-Added Ingredients in the F&F Industry, - January 5, 2018 - A Perfumer & Flavorist article by Patrick Mewton, Managing Director, Clotilde Limited and John Leffingwell, President, Leffingwell & Associates
Aromyx - A New Digital Scent and Taste Compony - December 21, 2017
Diversifying Flavor & Fragrance Growth - April 25, 2017 - A Perfumer & Flavorist article by Patrick Mewton, Managing Director, Clotilde Limited and John Leffingwell, President, Leffingwell & Associates - This jointly written article addresses three prevalent industry themes. Firstly, we set into context the nature of the current peak of mergers and acquisitions (M&A) activity that analytically examine its empirical trend and impact on expected value. Secondly, we probe the differing strategic objectives of deal protagonists and investigate its impact on both F&F increasing market concentration and the diversification of corporate strategy away from its traditional flavor and fragrance (F&F) pure product heartland. Lastly, we consider the reasons why some owners may be contemplating a partnership process at this time and highlight the alternative array of strategic options available, some of which may better meet stakeholders' objectives and retain the culture and identity of a business, rather than the alternative of merely being gobbled-up and digested in a takeover.
The 2016/2017 Madagascar Vanilla Crisis - Reports from Aust & Hachmann
MANE on the web
Firmenich - Geneva, Switzerland, April 5, 2017 - Firmenich is pleased to announce the appointment of Jerry Vittoria, as Head of Fine Fragrance worldwide, in replacement of Olivier de Lisle, who is retiring effective immediately. Jerry Vittoria, most recently President Fine Fragrance North America has been working closely with Oliver de Lisle to ensure a smooth transition of activities.
Olfaction - A Review - Updated October 13, 2016 - now with active links to most of the original literature
Flavor-Base - 10th Edition - A new version to the world's most extensive database on flavoring materials and food additives.
ESO 2000 (update 2006) - The Complete Database of Essential Oils - More than 4,125 Quantitative Analyses of Essential Oils - for Windows XP, 7, 8, 8.1 (32bit versions only).
Beverage-Master 2011 - With enhanced features for Excel 2007, 2010, 2013 & 2016. The world's leading program for beverage development.
Juice-Master 2011 - With enhanced features for Excel 2007, 2010, 2013 & 2016. The leading program for development of juice containing beverages.
Results of 82nd Joint FAO/WHO Expert Committee on Food Additives (JECFA) meeting (including Flavourings) (June 2016)
FEMA Interim GRAS List 29 - June/2018 - FEMA has released the latest interim GRAS list which includes five new additions.
FEMA IGRAS List 28 (Complete) - September 2017 - FEMA has released the latest GRAS list which includes 61 new additions.
FEMA Interim GRAS List 28 - December, 2016 - FEMA has released the latest interim GRAS list which includes nine new additions.
FEMA No. 4819 is Erythritol, a common food additive often used as a flavor enhancer, processing aid, carrier and as a low calorie sweetener additive.
FEMA 4820 is Purified Damar Gum, useful as a clouding / weighting agent for beverages. Nexira markets purified damar gum under the brand name DAMAR-EZ. The Identification value as reviewed by the FEMA Expert Panel = Oxygenated triterpenes and sequiterpenes 34-39% typically measured as isomers of hydroxydammarenone, dammerene diol, oleanonic aldehyde and urosonic aldehyde and acid and polycadenene 14-17%.
FEMA 4822 is 2,6-Dipropyl-5,6-dihydro-2H-thiopyran-3-carboxaldehyde = 2,6-Dipropyl-3-formyl-5,6-dihydro-2H-thiopyran which has recently been reported in Ciflorette strawberries by R. Cannon et al. at IFF - "In-depth analysis of Ciflorette strawberries (Fragaria× ananassa 'Ciflorette') by multidimensional gas chromatography and gas chromatography-olfactometry." Flavour Fragr. J., 30, 302–319 (2015). This material possesses a green, mango, tropical aroma.
FEMA 4824 is 2-(5-Isopropyl-2-methyl-tetrahydro-thiophen-2-yl)-ethyl acetate. This is an IFF material described as having tropical, strawberry and green pepper organoleptic notes. See WIPO WO 2015/157153 entitled Novel organoleptic compounds and their use in flavor and fragrance compositions, by David O. Agyemang et al. dated 15 October 2015, assigned to IFF. See also, Cannon, Robert J., et al. "Identification, Synthesis, and Characterization of Novel Sulfur-Containing Volatile Compounds from the In-Depth Analysis of Lisbon Lemon Peels (Citrus limon L. Burm. f. cv. Lisbon)." Journal of agricultural and food chemistry 63, 7 (2015): 1915-1931. This latter publication indicates for Orthonasal and Retronasal Evaluations: Orthonasal - citrus like, sulfury; Retronasal - @ 10 ppm - green, cooked strawberries, tropical.
FEMA 4825 is (E)-6-Nonenal = trans -6-Nonenal which has been reported as a "linolenic hardening flavour and melon like" in dilution (Mans H. Boelens & Leo J. van Gemert, Organoleptic Properties of Aliphatic Aldehydes, Perfumer & Flavorist, Vol. 12, October/November 1987 p. 31-43).
FEMA 4829 is 2-Pyrrolidone with a faint and amine-like odor which finds use in a wide variety of products.
FEMA 4832 is 2-(3-(benzyloxy)propyl)pyridine. This material is the subject of Japanese patent application JP,2015-083656, April 15, 2015 (Registration No. JP,5805902,B) by Kazu Miyazawa, Yasutaka Okubo and Kenji Haraguchi assigned to T.Hasegawa. The aroma/taste is slightly herbal, green, it has a natural sense of full aroma in the nutty area, also. It has a somewhat bitter taste when incorporated in high concentrations in foods and beverages. With vegetables, it has a spice-like taste at low concentrations. It improves the taste of food and drink and imparts sweet & salty notes, adds naturalness and enhances richness, especially for the taste of milk and dairy products. The taste enhancing effect is 2 - 10 times stronger than that of the ethyl analog.
FEMA 4838 is Valencene 80 Extract. This material refers to that produced via metabolic engineering by Isobionics (Valencene 80). Isobionics describes the taste as: orange, sweet, woody.
It should be noted that Valencene (ex citrus, e.g. orange) has been assigned FEMA No. 4334.
FEMA 4839 is a mixture of 3- and 4-butyl-2-thiophenecarboxyaldehyde. At the time of this writing, we have no flavor information on FEMA 4839.
FEMA 4867 is (-)-Rotundone = ( (3S ,5R ,8S )-3,8-Dimethyl-5-prop-1-en-2-yl-3,4,5,6,7,8-hexahydro-2H- azulen-1-one). This material is an important odor active constituent of Agarwood (Oud), white & black peppercorns, patchouli oil, Cypriol oil (Cyperus scariosus) as well as various wines that exhibit peppery spicy notes. It also is reported as being important to oak aged spirits. Robin Clery & coworkers have described the odor using GC-O as "woody, peppery, agarwood like". In 2006, Roman Kaiser also reported that "rotundone, a compound characterized by a very low recognition threshold value and already long known as a constituent of patchouli oil, is also very important to this part of the agarwood scent".
FEMA 4868 is 4-(4-Methyl-3-penten-1-yl)-2(5H )-furanone. At the time of this writing, we have no flavor information on FEMA 4868.
FEMA 4869 is 4-(l-Menthoxy)-2-butanone = 4-[[(1R,3R,4S)-p-Menthane-3-yl]oxy]-2-butanone = 4-((1R,2S,5R)-2-isopropyl-5-methylcyclohexyloxy)butan-2-one. This is a known compound (Bernal, Pablo, and Joaquín Tamariz. "Synthesis of novel ß-functionalized a-oximinoketones via hetero-Michael addition of alcohols and mercaptans to enones." Tetrahedron letters 47, no. 17 (2006): 2905-2909) which we strongly suspect has refreshing cooling properties (however we can find no odor or flavor description at the time of the writing.)
FEMA 4878 is Cordyceps sinensis fermentation product. Cordyceps sinensis, the Chinese caterpillar fungus or Dongchong-xia-cao in Chinese. It is a special mushroom with a fruiting body formed on caterpillars. C. sinensis is one of the most famous and highly valued medicinal fungi in China, and has also attracted worldwide attention in recent years as a nutriceutical. C. sinensis has been used traditionally in China mainly as a general tonic for a number of health benefits, such as strengthening the lung & kidney functions, restoring health after prolonged sickness, enhancing the physical performance, and improving the quality of life. Recent studies have shown several pharma-cological activities of Cordyceps including antitumor, antiaging, anti-fatigue, anti-inflammation, anti-atherosclerosis and antioxidant activities. As the wild or natural caterpillar fungi as fungus fruiting body-caterpillar complexes are rare and cannot meet the increasing demand, mycelial fermentation has become a major source of Cordyceps materials. While the flavor properties vary by method of fermentation, they are generally from a mild soy protein note to not really pleasant. The Identification value as reviewed by the FEMA Expert Panel = Approximately 25% alpha-glucans; approximately 60-70% maltodextrin and its degradation products with no more than 1.5% protein.
Cool without Menthol & Cooler than Menthol and Cooling Compounds as Insect Repellents - Updated July 28, 2016
Chirality & Odour Perception - Updated August 2, 2016 (now with over 1,424 enantiomers)
The FEMA Flavor Ingredient Library - September 23, 2015 - FEMA has officially launched its online Flavor Ingredient Library, a free and easily accessible resource for researchers, the media and consumers seeking information on substances that are generally recognized as safe (GRAS) for use as flavor ingredients. All the FEMA GRAS lists are available for FREE.
Flavours & fragrances: Recent advances in biotechnology, Speciality Chemicals Magazine, May 2015, pp. 32-35 - by John C. Leffingwell & Diane Leffingwell
Biotechnology - Conquests and Challenges in Flavors & Fragrances, Leffingwell Reports, Vol. 7 (No. 2), 1-11, March 2015 - by John C. Leffingwell & Diane Leffingwell
Identification of the Volatile Constituents of Raw Pumpkin (Cucurbita pepo L.) by Dynamic Headspace Analyses, Leffingwell Reports, Vol. 7 (No. 1), 1-14, January 2015 - by John C. Leffingwell, E.D. Alford, Diane Leffingwell
Wilkinson Sword Cooling Compounds: From the Beginning to Now, Perfumer & Flavorist, Vol. 39, 3 [March Issue], 2014, pp. 34-43 - by John C. Leffingwell & David G. Rowsell
Flavor Properties of FEMA GRAS List 26 flavor chemicals - New 2014
Identification of the Volatile Constituents of Cyprian Latakia Tobacco by Dynamic and Static Headspace Analyses - November 2013 - by John C. Leffingwell, E.D. Alford, Diane Leffingwell & Roger Penn
Aroma Constituents of a Supercritical CO2 Extract of Kentucky Dark Fire-Cured Tobacco - July 2013 - by John C. Leffingwell, E.D. Alford & Diane Leffingwell
Flavor Properties of FEMA GRAS List 25 flavor chemicals - June 2011
Chiral chemistry in flavours & fragrances - March 31, 2011 - a new article by John C. & Diane Leffingwell from the March 2011 issue of Speciality Chemicals Magazine.
Volatile Constituents of the Giant Puffball Mushroom (Calvatia gigantea) - March 26, 2011 - by John C. Leffingwell & E.D. Alford - a new article disclosing the first report of anthranilate esters in a mushroom species.
Cooling Ingredients and Their Mechanism of Action, by John C. Leffingwell in Handbook of Cosmetic Science and Technology, Third edition, André O. Barel, Marc Paye, and Howard I. Maibach, Editors, Pub: Informa Healthcare: New York. Chapter 65, pp. 661-675 (2009) - sign in at Amazon to read the article.
Scents of Precious Woods, an article by John Leffingwell on the odor active enantiomers of the world's most important aromatic woods and modern replacement aroma chemicals.
Chirality & Bioactivity: Pharmacology - an article by John Leffingwell tracing the history & importance of chirality and bioactivity.
Aspects of Oral Perception
Flavor Properties of GRAS List 25 flavor chemicals
Updated EU Flavouring Regulations
EFSA Flavouring Group Evaluations
Japanese Flavoring Agents as Food Additives - as of April 2015
China Flavor Regulations - On 24 December 2014, The National Health and Family Planning Commission of the People's Republic of China (NHFPC) announced that the China National Standards for Food Additives (GB 2760-2014), which includes the latest list of flavoring ingredients, would go into effect on May 24, 2015. This regulation contains a more complete (and updated) list of flavor ingredients than the flavoring regulation GB 29938-2013,which defines the purity standards for flavor chemicals, that took effect June 1, 2014.
FEMA - Safety Assessment and Regulatory Authority to Use Flavors: Focus on E-Cigarettes
FEMA - The FEMA GRAS™ Status of Flavors – Focus on Biotechnology and Other New Methods of Production - Discusses the use of genetically modified organisms (GMOs) in the production of flavoring substances.
IOFI Global (Flavourings) Reference List (GRL) - contains all FEMA, EU Flavis and JECFA materials.
IOFI Natural Complex (Flavourings) Substances (GRL) - contains all FEMA, FDA and COE materials.
Chemistry and the Sense of Smell - This book by Charles Sell provides an account of the totality of fragrance chemistry in one volume. It describes the chemistry of odorous materials, how and why they are produced in nature, how they are produced and used commercially, how they are analyzed and characterized, the chemistry of how we perceive them, and their role in our everyday lives. The final chapter reviews the major intellectual challenges for fragrance chemists and considers the future of the field.
Scent and Chemistry - This book is the long awaited completely revised and extended edition of Günther Ohloff's standard work "Scent and Fragrances: The Fascination of Odors and Their Chemical Perspectives". The prominent chemists Günther Ohloff, Wilhelm Pickenhagen, and Philip Kraft convey the scientist, the perfumer, as well as the interested layman with a vivid and up-to-date picture of the state of the art of the chemistry of odorants and the research in odor perception. The book details on the molecular basis of olfaction, olfactory characterization of perfumery materials, structure-odor relationships, the chemical synthesis of odorants, and the chemistry of essential oils and odorants from the animal kingdom, backed up by ca. 400 perfumery examples and historical aspects.
The Chemistry and Biology of Volatiles (August 2010) - A Fascinating book edited by Andreas Herrmann of Firmenich. Volatile compounds are molecules with a relatively low molecular weight allowing for an efficient evaporation into the air. They are found in many areas of our everyday-life: they are responsible for the communication between species such as plants, insects or mammals; they serve as flavours or fragrances in many food products or perfumed consumer articles.
Natural Products in the Chemical Industry (February 2015). Natural Products in the Chemical Industry (2d Ed.) by Bernd Schaefer of BASF is not a conventional textbook, but rather an invitation to join an entertaining journey that takes you into the fascinating world of natural products. This book features diverse compound classes from a number of areas including fragrances and flavourings. The sections on Ambrox, menthol, ionone and the rose ketones (to mention a few) are fascinating chemistry.
Update on Menthol Production & Use
JECFA Flavour Chemicals - Search the JECFA database on flavorings & food additives
IOFI Update on Artificial Flavourings - February 27, 2007
Japanese Food Additives - including Flavors, colors, preservatives, etc. - update 2015
List of Designated Additives including flavorings
List of Existing Food Additives
List of plant or animal sources of natural flavorings
List of food additives generally provided for eating or drinking as foods and which are used as food additives
Standards for Use of Food Additives
Japan'sSpecifications and Standards for Food Additives
Japanese list of newly approved flavorants
EFSA Opinions - Reviews the latest opinions of the Scientific Panel on food additives, flavourings, processing aids and materials in contact with food [AFC] as relates to the EC Register list of flavourings.
Japanese Patent Translator
50 Years of Flavor Chemistry
Fragrance & Flavor – Art & Science
Cooling Compounds - Dr. Mark Erman's presentation to the Society of Flavor Chemists (December 2003)
Cooler than Menthol
Menthol - Background & Organoleptic Properties
Cool without Menthol & Cooler than Menthol
The Leffingwell Reports
Odor and Flavor Detection Thresholds
Search PubMed .... from our site
Phytochemical & Ethnobotanical Database Search... from our site
Lycopene - An Ultimate Phytochemical Nutraceutical?
Carotenoid Precursors of Aroma Constituents
GC-MS analysis of hardwood smoke flavor.
GC-MS analysis of Dark Fire-cured Tobacco
Givaudan 2017 1st Qtr Sales - Geneva, 11 April 2017 - In the first three months of 2017, Givaudan recorded sales of CHF 1,242 million, an increase of 3.5% on a like-for-like basis, and 7.7% in Swiss francs compared to the previous year. The Fragrance Division recorded sales of CHF 576 million, a growth of 2.1% on a like-for-like basis and an increase of 2.6% in Swiss francs. The Flavour Division reported sales of CHF 666 million, a growth of 4.8% on a like-for-like basis and an increase of 12.6% in Swiss francs. Including Spicetec, acquired in August 2016 and Activ International, acquired in January 2017, the growth was 14.1% in local currency.
Huabao International Holdings Limited - April 10, 2017 - Huabao International Holdings Limited (the "Company") announced the approval of the spin-off of Huabao Flavours & Fragrances Co. Ltd. Huabao Flavours & Fragrances Co. Ltd., a 90.21% indirect non-wholly owned subsidiary of the Company, will have a separate listing of the shares of the Spin-off Company on The Shenzhen Stock Exchange.
IFF Acquiers PowderPure - April 10, 2017 - International Flavors & Fragrances announced that it had acquired Columbia Phytotechnology LLC, a/k/a PowderPure on April 7, 2017. Founded in the early 2000s and based in Oregon, PowderPure utilizes its patented Infidri™ drying technology to create all-natural food ingredients by eliminating water while leaving the taste, nutrition and color matrix intact. Using minimal processing, PowderPure currently focuses on whole fruits and vegetable powders, juice powders, as well as other specialty products. Financial terms of the deal have not been disclosed.
In Memorium - Barney J. Kane - Bernard (Barney) James Kane, Jr. passed away at his home in Atlantic Beach, Florida on Monday, March 27, 2017.
Following graduation with a BS degree from Iona College and a Masters degree in organic chemistry at Adelphi University, in 1957, Barney accepted a position as a Research Chemist at the Naval Stores Division of the Glidden Company in Jacksonville Fla, (now part of Symrise). Over his forty-one years of service, he wrote numerous papers, was awarded 29 patents and made many other valuable contributions to make the company a major supplier of flavor & fragrance ingredients. Barney retired in February, 1998. Because of his efforts, the company's Jacksonville research facility was renamed, the "Bernard J. Kane Laboratory". He is survived by his wife, Marianna. A Funeral Mass will be celebrated at 1:00 p.m., Saturday, April 1st at St. Paul's Catholic Church of Jacksonville Beach, FL.
Flavor & Fragrance Top Companies - Revised Final Estimates for Years 2011-2015 as of March 14, 2017
(-)-Rotundone, an Important Odor Active Constituent of Agarwood (Oud), is now FEMA GRAS - January 16 2017
Frutarom Full Year 2016 Sales - Haifa, Israel – March 23, 2017 - Frutarom's 2016 sales rose 31.4% to a record US$ 1,147 million of which we consider US$ 1,1074.4 million to be F&F related. Constant currency growth on a pro-forma basis was 5.3%. Sales for Frutarom's core activities (Flavors activity and Specialty Fine Ingredients activity) rose in 2016 by 35.4% to reach a record US$ 1,067.5 million compared with US$ 788.5 million last year, reflecting constant-currency growth on a pro-forma basis of 5.9%. Sales in the field of Flavors in 2016 as reported in US dollars rose 39.3% to reach US$ 846.5 million (compared with US$ 607.5 million the previous year), reflecting constant-currency growth on a pro-forma basis of 6.1% compared to 2015. pro-forma basis by 5.3%. Frutarom's reported sales in fourth quarter 2016 rose 28.1% to reach a Q4 record of US$ 289 million compared with US$ 225.6 million in the same quarter the previous year. Sales for Frutarom's core activities (Flavors activity and Specialty Fine Ingredients activity) in fourth quarter 2016 rose 30.4% to reach a record US$ 267 million compared with US$ 204.8 million in the parallel quarter last year. Sales in the field of Flavors in fourth quarter 2016 as reported in US dollars rose 36.9% to reach US$ 214.8 million compared with US$ 156.9 million the previous year. Sales in the field of Specialty Fine Ingredients in fourth quarter 2016 as reported in US dollars rose 11.5% to reach US$ 53.9 million compared with US$ 48.3 million the previous year.
Mane - Full Year 2016 Sales increase - March 14, 2017 - Mane achieved sales of � 1,058 million (+11.7%) in 2016 vs � 947.6 million in 2015, which translateS to USD $1,172 million for the year 2016 (at an average exchange rate of 1 Euro = 1.1073 U.S. $). Sales growth was +14.4% in local currencies. (personal communication).
Symrise reports strong sales and earnings growth in 2016 - March 14, 2017 - Symrise benefited from robust demand across all regions and segments in 2016. Sales increased by 12 % year-on-year in reporting currency to � 2,903.2 million (2015: � 2,601.7 million). In local currencies, the increase amounted to 16 %. Normalized net income grew to � 265.9 million (2015: � 246.8 million) which represents an increase of 8 %.
Excluding portfolio effects from acquisitions in the areas of fragrances and nutrition and from the divestment of Pinova's industrial activities, organic sales growth in local currency amounted to 8 %. As a result, Symrise posted substantially stronger growth than the relevant market for flavors and fragrances, which grew around 3 % for 2016 according to market estimates. The activities of the former Flavor & Nutrition segment are now carried out by two separate segments. The Flavor segment includes applications for beverages, savory products, and sweets. The Nutrition segment comprises the Diana division with the application areas of food, pet food, Aqua and Probi. Scent & Care continues to combine the areas of fragrances, cosmetic ingredients and aroma molecules. Fragrances, with its application fields of fine fragrances, personal care, oral care and home care, was reorganized into global units in 2016.
Sales in Scent & Care increased from � 1,073.7 million to � 1,311.3 million. This represents a plus of 25 % in local currency. At reporting currency, sales grew by 22 %. Excluding the effects from Pinova, sales were up 5 % in local currency.
Sales in the Flavor segment increased by 4 % to � 1,015.9 million (2015: � 980.2 million). In local currency, sales grew by 10 %.
In total, combined F&F sales from the Flavor segment and Scent & Care were 2,089.6 million euros.
Robertet Full Year 2016 Sales - February 24, 2017 - The Board of Directors of Robertet met in Grasse on 22 February 2017 under the chairmanship of Philippe Maubert and reviewed the Group's activity and provisional results for the financial year 2016. Consolidated revenue for the year ended 31 December 2016 was � 468 million, an increase of 7.6% compared to 2015. This turnover was 85% outside France and is growing in Europe, South America and Asia. The Raw Materials (+5%), Perfumery (+10 3%) and Flavor (+6.7%) divisions are all growing. Consolidated net profit, unaudited, is in the order of � 41 million, an increase of 13%, higher than forecast. Activity at the beginning of 2017 is well oriented, growing more than in the second half of 2016.
IFF Full Year 2016 Sales - February 15, 2017 - IFF's full year net sales for 2016 were $3,116.4 million an increase of 3.1% over 2015. 4th Qtr net sales increased 6.6% to $762.6 million. Currency neutral sales increased 5% over the prior year, including approximately two percentage points related to recent acquisitions. On a reported basis, full year Flavor sales increased 4%, or $53.6 million, to $1.5 billion, while currency neutral sales grew 6% driven by growth in all categories, and the contribution of sales related to the Ottens Flavors and David Michael acquisitions. On a reported basis, full year Fragrance sales increased 3%, or $39.6 million, to $1.6 billion, while currency neutral sales improved 4%, with two percentage points of growth contribution from the organic business and two percentage points related to the acquisition of IFF | Lucas Meyer Cosmetics.
William J. "Bill" Downey Jr. has passed away - January 30, 2016 - Bill was a pioneer of the Society of Flavor Chemists, and was President in 1966/67 and was an active FEMA Board member. He will be remembered not only as a creative flavorist, but as a scientist that helped lay the foundation of the modern flavor & fragrance industry. Above all he was a Quintessential Gentleman that helped all that knew him.
Takasago 9 Month 2016-2017 Sales - February 13, 2017 - Takasago 9 Month sales for the period ending December 31, 2016 were ¥ 105,560 million, a decrease of 2.0% over the prior year period. Operating income increased 12.3% to ¥ 6,916 million. Net income increased 22% to ¥ 6,199 million.
Sensient F&F Full Year 2016 Sales - Milwaukee, Feb. 09, 2017 - For the full year 2016, the Sensient Flavors & Fragrances Group reported revenue of $795.3 million, a decrease of approximately 3% from the $819.0 million reported in 2015. Operating income increased to $123.5 million in 2016, from $121.9 million in 2015. The Flavors & Fragrances Group reported revenue of $186.9 million and $201.0 million in the fourth quarters of 2016 and 2015, respectively. Operating income increased approximately 3% to $28.4 million, from $27.5 million in last year's fourth quarter. It should be noted that the above sales figures include items not normally considered Flavors & Fragrances - mainly natural ingredients such as dehydrated vegetables, which historically have been about 18%+ of reported sales. Excluding the "Natural Ingredients" segment, "Tradional Flavor and Fragrance" sales were $653.8 million in 2016, a decline of 2.1% from 667.9 million in 2015.
T. Hasegawa 1st Qtr 2016-2017 Sales Results - February 3, 2017 - Sales for the 1st Qtr 2016-2017 period ending Dec. 31, 2016 were up 3.0% to ¥ 11,542 million compared to ¥ 11,209 million in the prior year. Net income for the period increased 63.5% to ¥ 1,166 million.
Givaudan Full Year 2016 Sales - Geneva, 31 January 2017 - Givaudan Group full year sales were CHF 4,663 million, an increase of 4.2% on a like-for-like basis and 6.1% in Swiss francs when compared to 2015. Fragrance Division sales were CHF 2,230 million, an increase of 5.6% on a like-for-like basis and 6.4% in Swiss francs. Flavour Division sales were CHF 2,433 million, an increase of 3.0% on a like-for-like basis and 5.8% in Swiss francs. The gross margin declined to 45.6% from 46.2% in 2015, mainly as a result of the lower gross margin on the acquired Spicetec Flavors business. Net income increased to CHF 644 million in 2016 from CHF 625 million in 2015, an increase of 3.1%. This results in a net profit margin of 13.8%, versus 14.2% in 2015. Basic earnings per share increased to CHF 69.95 versus CHF 67.89 for the same period in 2015.
Hyperception: Illusions for the Senses with Jeanette Andrews
Thursday, February 23, Lincoln Park Zoo, Chicago, IL
Givaudan acquires Activ International - 17 Jan 2017 - As part of its 2020 strategy to strengthen capabilities in natural flavour solutions to its customers, Givaudan today announced that it has acquired Activ International.
Activ International offers a range of natural and organic flavours, marine extracts, seafood and vegetable based culinary solutions to customers. With headquarters in Bienne (Switzerland), Activ operates from locations in Somerset (New Jersey, USA), Melaka (Malaysia), Mitry-Mory (Paris, France) and Arequipa (Peru), employing globally 170 employees.
While terms of the deal have not been disclosed, Activ's business would have represented approximately CHF 40 million of incremental sales to Givaudan's results in 2016 on a proforma basis. Givaudan plans to fund the transaction from existing resources.
Firmenich announces historic investment in Geneva - January 11th 2017 – Firmenich announces the sale of its La Jonction site in Geneva to the State's Pension Fund in support of the Geneva state's urban renewal plan. The transaction will enable Firmenich to conduct its largest investment ever in Geneva, to strengthen and expand its global center for innovation and creation. By 2020, the fragrance and flavors company will invest more than 100 million Swiss francs to transfer all its research and development and creation and support functions, from La Jonction to a new Meyrin-Satigny campus of excellence. Today, La Jonction is home to Firmenich's most important research and development center worldwide, employing 500 employees who represent 65% of its Research and 85% of its Intellectual Property creation. The site is also one of its main creation centers bringing together an exceptional team of world-renowned Perfumers and Flavorists. From this center of excellence, Firmenich's creators and researchers work alongside leading sales teams to ensure the global reach of its cutting-edge technologies and creations. Firmenich expects to transfer all activities, including all support functions from La Jonction to Meyrin-Satigny by 2020, once the Campus has been completed.
Senomyx has Announced a Restructuring Plan - On December 2, 2016, Senomyx, Inc. implemented a restructuring plan wherein the Company expects to reduce the Company's work force by 17 full-time equivalent employees. The Company expects to substantially complete the Plan in the fourth quarter of 2016. Under the Plan, with the resulting staff and other expense reductions, the Company expects to reduce its expenses by approximately $4 million on an annualized basis. The Company expects to record restructuring-related expenses totaling approximately $490,000 related to termination benefit costs and other costs associated with the Plan. Implementation of the Plan reflects the shift in the Company's priorities to focus its sweet taste research and development efforts primarily on natural sweet taste modifiers and natural high intensity sweeteners. The Company will continue to invest in its salt taste program utilizing a focused research and development approach. Both the natural sweet program and salt taste program are supported by funding under collaborations. In addition, the Company will continue to invest in its commercialization initiatives including direct sales and activities supporting its collaborators' commercialization of the Company's flavor ingredients.
Huaboa Intl. Half Year 2016-2017 Sales - November 28, 2016 - Huaboa International net sales for the half year ending September 30, 2016 were 1,859.5 million Hong Kong dollars (+9.8%) of which about 70% was from the flavors & fragrance related segments. The F&F segments sales decreased 6.1% to 1,302.3 million HKD
Takasago Half Year 2016-2017 Sales - November 17, 2016 - Takasago half year sales for the period ending September 30, 2016 were ¥ 70,691 million, a decrease of 2.0% over the prior year period. Operating income declined 15.4% to ¥ 3,947 million. Net income declined 18.9% to ¥ 3,290 million. Looking at the business segments, net sales in the Flavors Business fell 0.4% year on year, to ¥43,075 million, reflecting the negative impact of the currency fluctuations that offset sales growth for the U.S. subsidiary. In the Fragrances Business, net sales fell 8.7% year on year, to ¥18,205 million, due mainly to the poor performance of the subsidiary in China. In the Aroma Ingredients Business, net sales fell 1.1%, to ¥5,654 million, despite the solid performance of menthol, the mainstay product of this business segment.
T. Hasegawa Full Year 2015-2016 Sales Results - November 16, 2016 - for the 12 months ending September 30, 2016, T. Hasegawa's consolidated net sales were up 0.8% to ¥ 47,591 million compared to ¥ 47,228 million in the prior year. Net income for the period was up 19.5% to ¥ 3,637 million.
Robertet 9 Month 2016 Sales - November 15, 2016 - Robertet has reported 9 month sales of 355.8 million euros (+9.0%). Flavor sales increased 6.3% to 131.3 million euros. Fragrance sales were 130.2 million euros (+10.2%). Raw materials increased 11.1% to 91.5 million euros. Other income was 2.3 million euros.
IFF Reports 9 Month 2016 Results - New York, November 7, 2016 - IFF 9 Month sales increased 2.0% to $2,353.8 million from $2,307.5 million in the prior year. 3d Qtr sales were up 1.6% to 770.0 million. 9 Month fragrance sales increased 3.0% to $1,234.9 million while 9 Month flavor sales increased 1% to $1,118.9 million.
IFF to Acquire Fragrance Resources - New York, November 3, 2016 - International Flavors & Fragrances Inc., a leading innovator of sensory experiences that move the world, today announced that it has entered into an agreement to acquire Fragrance Resources. Founded in 1987, Fragrance Resources is a privately-held, family-owned fragrance company. For almost 30 years, it has distinguished itself with exceptional creative talent and quality service to faster-growing regional customers. The company has facilities in Germany, North America, France, and China. "IFF's Vision 2020 business strategy is well-served with this highly-complementary bolt-on acquisition, helping us to win where we compete in key fragrance markets and categories as we look to accelerate growth," said IFF Chairman and CEO Andreas Fibig. Nicolas Mirzayantz, Group President, Fragrances, added "Since 1987, the Fragrance Resources team has been a key player in faster-growing specialty fine fragrances – an important growth category. The addition of this outstanding company into the IFF family will help us strengthen our position in strategic areas and further penetrate the critical and accelerating regional customer base that we see as the engine of growth.
Symrise 9 Month 2016 Sales - Holzminden, Germany - November 2, 2016 - In the first nine months 0f 2016, Symrise increased its sales by 11 % to � 2,192.3 million (9M 2015: � 1,977.0 million). In local currency, the increase amounted even to 16 %. Both segments had a substantial impact on this strong performance. Purchased activities also contributed to sales, including those of the Pinova Holdings and those of Scelta Umami and Nutra Canada. Even without these additional contributions, the Group achieved significant organic sales growth of 8 % in local currency. Net income for the group was � 193.6 million.
At regional level, Symrise experienced the strongest growth in Latin America, where sales were up 34 % in local currency. The second-strongest region was North America, at 27 %. Asia-Pacific saw a 12 % increase in sales, followed by EAME with an increase of 7 %. Symrise also recorded strong growth in the Emerging Markets, where sales were 17 % higher in local currency, accounting for 43 % of the Group's total sales.
Scent & Care sets the course for the future - Scent & Care, which comprises the fragrance and cosmetic ingredients activities, increased its sales, including contributions from the acquisition of Pinova Group, by 23 % (27 % in local currency) to � 997.2 million (9M 2015: � 812.3 million). The segment posted strong gains even without the Pinova effects, with an organic sales increase by 7% at local currency. Scent & Care reported particularly dynamic demand with cosmetic active ingredients and fragrances.At operational level, Symrise used the third quarter to realign the Fragrances division. In future, rather than being organized by regions, the business with fragrance compositions will be organized globally by area of application, namely Fine Fragrances, Personal Care, Home Care and Oral Care. Moreover, the division is going to consolidate its capacities. Therefore, the US-American mixed operation in Chester, NY, will be closed by the end of the year and a production network at the location in Branchburg, NJ, will be created.
Flavor & Nutrition - Flavor & Nutrition achieved a sales growth of 3 %, and was up 9 % in local currency. The segment benefited particularly from good capacity utilization and strong demand for sweets and culinary applications. Business in the area of pet food also continued to grow. Excluding the purchased activities of Dutch Scelta Umami and Nutra Canada, and adjusted for the sale of the CAP pork specialties last year, the segment also posted strong organic growth with an increase of 10 % in local currency.
Sale of the industrial activities to French manufacturer DRT - In the course of the ongoing optimization of its portfolio, Symrise has decided to sell the industrial activities of the Pinova Holdings. Symrise will continue to operate the holding's former Renessenz entity, which was acquired with the takeover. In the past months, these activities have been fully integrated into the Aroma Molecules division, securing access to strategically important natural ingredients. As a result, Symrise will offer a broader fragrance portfolio for perfume manufacturing going forward, expanding its market leadership in this area. The unit, which operates under the brand name Pinova, with product solutions for technical applications in adhesives, paint, coatings as well as the tire and construction industries, will be acquired by DRT. The purchase price was set to US$ 150.0 million. Estimated sales for 2016 amount to US$ 111.0 million. The transaction is due to close at the end of 2016. The industrial applications have only limited points of reference with Symrise's core business. However, Symrise has secured continued access to specific raw materials from renewable sources. DRT and Symrise will cooperate closely in the future under a joint supply agreement.
Sensient F&F 9 Month 2016 Sales - Milwaukee, October 20, 2016 - The Flavors & Fragrances Group reported revenue of $608.3 million (-1.6%) in the first 9 months of 2016. Segment operating income was $95.1 million (+0.8%) in the first 9 months of this year compared to $94.4 million in the prior year. The Flavors & Fragrances Group reported 3d Qtr revenue of $200.7 million, a decrease of -3.2% from $207.4 million reported in last year's third quarter. Segment operating income was $32.3 million compared to $31.4 million in the third quarter of 2015.
Firmenich Introduces New Chairman and Board Members - Geneva, Switzerland, October 12th, 2016 - Firmenich announces the election of Patrick Firmenich as Chairman of the Firmenich Board of Directors, after serving as Vice Chairman since 2014 and leading the company as CEO for 12 years between 2002 and 2014. He succeeds Yves Boisdron who is retiring from the Board after a decade in which he significantly contributed to the success of the Company. Building on his prestigious international career in specialty chemicals, Yves Boisdron became Chairman of Firmenich in July 2013, after joining the Board in 2006 and acting as Vice Chairman and Chairman of the Governance & Compensation Committee.
Givaudan 9 Month 2016 Sales - Geneva, 10 October 2016 - In the first nine months of 2016 Givaudan recorded sales of CHF 3,518 million, an increase of 5.1% on a like-for-like basis and 6.7% in Swiss francs compared to the previous year. Fragrance Division sales were CHF 1,699 million for the first nine months of 2016, an increase of 7.5% on a like-for-like basis and an increase of 8.7% in Swiss francs. Including Induchem, the growth was 8.6% in local currency. The sales of Induchem, which was acquired on 31 August 2015, amounted to CHF 19 million for the first nine months of 2016. Flavour Division sales were CHF 1,819 million during the first nine months of 2016, an increase of 3.0% on a like-for-like basis and 5.0% in Swiss francs. Including Spicetec, the growth was 4.7% in local currency. Spicetec Flavors & Seasonings contributed CHF 29 million following the acquisition on 25 July 2016.
Firmenich Full Year 2015-2016 Sales - Geneva, Switzerland, October 5th, 2016 – Firmenich posted solid results in its Fiscal Year 2016, which ended June 30th 2016. The Group achieved CHF 3.2 billion in net sales, growing +8.2% in local currency and +6.3% in Swiss Francs.
C&EN Cover Story - The problem with vanilla - After vowing to go natural, food brands face a shortage of the favored flavor - Sep. 12, 2016 - Melody Bomgardner discusses the complexities of vanilla and vanillin production as well as the labeling for consumers.
IFF to Acquire David Michael, Inc. - New York, Sep. 13, 2016 - International Flavors & Fragrances Inc. announced that it has entered into an agreement to acquire David Michael & Company, Incorporated. Founded in 1896, David Michael is a privately-held flavors company headquartered in Philadelphia, PA. The Company is well-known in the industry for its vanilla expertise, strength in the Dairy and Beverage categories, and relationships with dynamic, faster-growing middle-market customers. "This bolt-on acquisition of David Michael is another important milestone in IFF's Vision 2020 business strategy, helping us to win where we compete in the world's largest flavors market as we look to further accelerate growth," said IFF Chairman and CEO Andreas Fibig. The transaction, funded from existing resources, is expected to add approximately $85 million in revenue in 2017. Financial terms of the deal have not been disclosed. The completion of this transaction is subject to clearance by the relevant regulatory authorities and satisfaction of other customary closing conditions. Until the transaction closes, which is expected to occur in the fourth quarter of 2016, David Michael and IFF will operate as separate companies.
Clary Sage at Avoca - Early Development of Commercial Clary Sage Operations in North Carolina (1960's-70's)
Jeanette Andrews - Scent and Sorcery: An Occult Excursion into Sensory Perception - August 22, 2016 - Jeanette explains her fascination with "The Magic Behind the Senses".
Frutarom Half Year 2016 Sales - Haifa, Israel – August 15, 2016 - Frutarom's sales in the first half of 2016 increased 37.4% to a record US$ 300.2 million. Constant currency growth in pro-forma terms was 7.2%. Sales from Flavor activities grew 44.3% to a record US$ 224.4 million reflecting a constant currency growth in pro-forma terms of 7.7%. Sales from Specialty Fine Ingredients activities grew 39.1% to a record US$ 57.6 million, reflecting constant currency growth in pro-forma terms of 9.9%. Net income grew by 22.7% to US$ 33.7 million.
Symrise 1st Half 2016 Sales - Holzminden, Germany - August 11, 2016 - In the first half of 2016, Symrise increased its sales by 10 % (local currency: 16 %) to � 1,462.5 million (H1 2015: � 1,330.8 million). Alongside the continuing strong demand in the segments, this development was driven by Pinova Group, which was consolidated this year. Adjusted for portfolio effects, the Symrise Group posted an impressive 8 % plus in sales in local currency. Scent & Care increased its sales by 22 % (local currency: 27 %) to � 667.8 million (H1 2015: � 546.5 million). The segment benefited in particular from high capacity utilization in its fragrance and cosmetic ingredients activities and from strong demand for menthol. Portfolio effects, such as the integration of Pinova, contributed � 110.5 million to Group sales. Even without these effects, Scent & Care achieved significant growth by 7 % in local currency. Flavor & Nutrition achieved a 1 % increase in sales (local currency: 8 %) to � 794.8 million. As in the previous quarter, growth was driven particularly by strong demand for savory and beverage applications as well as pet food.
Takasago 1st Qtr 2016-2017 Sales - August 9, 2016 - Takasago sales for their 1st fiscal quarter ending June 30, 2016 declined slightly (0.2%) to ¥ 36,230 million from ¥ 36,314 in the prior year. Net income decreased 40.9% to ¥ 1,548 million from ¥ 2,619 milllion in the prior year.
IFF 1st Half 2016 Sales - New York - August 8, 2016 - IFF 1st Half sales increased 2.2% to $1,576.8 million from $1,542.4 million in the prior year. 2d quarter sales were up 3.4% to 793.5 million. 1st Half fragrance sales increased 4.0% to $824.8 million while 1st half flavor sales were nearly flat (+0.3%) at $752.0 million. 2d Qtr fragrance sales increased 4.8% to 414 million. 2d Qtr flavor sales were $379.5 million (+1.9%). On a currency neutral basis fragrance sales were up 3% for the half year and flavor sales were up 4%. For the six months ending June 30th, IFF's net income increased 0.7% to $235.3 million.
T. Hasegawa 9 Month 2015-2016 Sales Results - August 5, 2016 - Sales for the 9 month period ending June 30, 2016 were ¥ 35,486 million (+ 3.2%) compared to ¥ 34,402 million in the prior year. Net income for the period increased 15.8% to ¥ 2,604 million.
Evolva's nootkatone enters NIH-sponsored studies to assess its effectiveness against mosquitoes that transmit Zika virus - 25 July 2016 - Evolva has announced that the US National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), will sponsor studies to test Evolva's nootkatone against mosquitoes infected with Zika virus. The study will evaluate nootkatone in multiple formulations against wild type and insecticide-resistant mosquitoes that carry the virus. Zika is one of a number of mosquito-borne viruses, which include both dengue and chikungunya, that are transmitted by Aedes aegypti and Aedes albopictus mosquitoes. The World Health Organisation and the US Centers for Disease Control and Prevention (CDC) have declared the Zika virus a public health emergency. Zika is associated with potentially severe neuropathogenic and neurodevelopmental conditions in humans.
Editors note* - Nootkatone, along with p-Menthane diol (PMD) and Patchouli alcohol are important natural / nature identical flavor & fragrance constituents that are effective against mosquitos and other insects. Takasago's PMD (p-Menthane diol) is already one of the few such CDC recommended insect repellents that are safe and effective for use by pregnant and breastfeeding women.
Sensient F&F Half Year 2016 Sales - Milwaukee, July 21, 2016 - The Flavors & Fragrances Group reported revenue of $407.7 million (-0.7%) in the first six months of 2016. Segment operating income was $62.8 million (-0.3%) in the first half of this year compared to $63.0 million in the first six months of 2015. Foreign currency translation reduced both revenue and segment operating income by approximately 2% in the first half of this year. The Flavors & Fragrances Group reported second quarter revenue of $209.3 million, an increase of 2.3% from $204.6 million reported in last year's second quarter. Segment operating income was $35.3 million compared to $32.5 million in the second quarter of 2015. Foreign currency translation reduced revenue and segment operating income by approximately 1% in the quarter. Several of the businesses in the Flavors & Fragrances Group delivered solid results in the quarter, including Fragrances, North America Savory Flavors, and the Beverage businesses in both North America and Europe.
T. Hasegawa Half Year 2015-2016 Sales Results - June 8, 2016 - Sales for the half year period ending March 31, 2016 were ¥ 22,825 million (+ 4.3%) compared to ¥ 21,879 million in the prior year. Net income for the period increased 31% to ¥ 1,543 million.
Givaudan Half Year 2016 Sales - Geneva, 18 July 2016 - Givaudan Group sales for the first six months of the year were CHF 2,334 million, an increase of 6.2% on a like-for-like basis and 6.9% in Swiss francs. Fragrance Division sales were CHF 1,132 million, an increase of 9.7% on a like-for-like basis and 10.7% in Swiss francs. Including Induchem, the growth was 11.0% in local currency. The sales of Induchem, which was acquired on 31 August 2015, amounted to CHF 13 million for the first half of 2016. Total sales for Fragrance compounds (Fine Fragrances and Consumer Products combined) increased by 10.4% on a like-for-like basis. In Swiss francs, sales of compounds increased to CHF 977 million from CHF 892 million.
Givaudan Flavour Division sales were CHF 1,202 million, an increase of 3.0% on a like-for-like basis and 3.5% in Swiss francs. The increased sales were positively impacted by new wins and existing business expansion in the high growth markets of Argentina and Brazil in Latin America as well as India, Indonesia, Thailand and Vietnam in Asia Pacific. The mature markets of Japan, Korea and Australia delivered good results. Europe and Africa rebounded in the second quarter despite challenging economic conditions in Western Europe and Sub-Saharan Africa. North America results were solid against a strong prior year comparable. Dairy, Savoury and Snacks contributed to the overall growth.
IFF and Unilever launch partnership to improve lives of vetiver farming communities in Haiti - July 14, 2016 - IFF and Unilever are partnering to enhance the livelihoods of smallholder vetiver farmers in Haiti. The partnership, "Vetiver Together", aims to sustainably improve food security, increase yields, and diversify income, while working to support women's empowerment and environmental conservation. Haiti produces some of the best vetiver in the world, and many farmers rely on cultivation of the root for their entire source of income. This follows the lead of Firmenich and Givaudan who have previously launched similar progams in Haiti for vetiver in the last few years. Symrise has a similar vetiver program in Madagascar.
Huaboa Intl. Full Year 2015-2016 Sales - June 22, 2016 - Huaboa International total sales for the year ending March 31, 2016 was 3,928.2 million Hong Kong dollars (-9.2%) of which ~82.5% was from the flavors & fragrance related segments. The F&F related segment sales decreased ~4.2% to 3,157.2 million HKD = ~U.S. 407.3 million. Huaboa slightly restated the F&F sales segments for 2014-2015 to reflect the inclusion of the sale of aroma raw materials products.
Givaudan to acquire Spicetec Flavors & Seasonings - May 24, 2016 - As part of Givaudan's 2020 strategy to strengthen its integrated solutions strategies, the company announced the acquisition of ConAgra Foods' Spicetec Flavors & Seasonings business. Spicetec offers a range of flavours, spices and savoury seasoning solutions to customers, primarily in North America and operates from locations in Omaha, Nebraska; Carol Stream, Illinois and Cranbury, New Jersey, employing 280 people. The transaction is expected to add approximately USD 185 million to Givaudan's revenue on a full year basis. The total purchase price is USD 340 million, which Givaudan plans to fund from existing resources. As the planned transaction is structured as an asset deal, the amounts paid include tax benefits which are typical with this type of transaction. Final cash consideration will be subject to adjustments for working capital. The planned acquisition remains subject to formal approvals from the relevant antitrust authorities. The transaction is expected to close in the next 60-90 days.
Takasago Full Year 2015-2016 Sales - May 13, 2016 - Takasago sales increased 7.6% to ¥ 141,660 million from ¥ 131,653 in the prior year ending March 31. Net income increased 91.4% to ¥ 4,880 million from ¥ 2,549 million.
Symrise 1st Qtr 2016 Sales - Holzminden, Germany - May 10, 2016 - Symrise 1st Qtr 2015 group sales increased 9.6% in euros (and 14% in local currencies) to � 731.8 million from � 668.0 million in the first 3 months of 2015. Scent & Care sales increased 21.7% to � 344.3 million (or 22% in local currencies) from � 282.8 million in 2015. Flavor & Nutrition sales increased 0.6% to � 387.5 million (or 6% in local currencies) from � 385.3 million in 2015.
IFF 1st Qtr 2016 Sales - New York - May 9, 2016 - IFF 1st Qtr sales increased $8.4 million, or 1.1%, to $783.3 million from $774.9 million in the prior year quarter. 1st Qtr net income declined 7.5% to $118.6 million. 1st Qtr flavor sales declined 1.2% to $372.5 million while fragrance sales increased 3.3% to $410.8 million. Currency neutral Flavor sales grew 4%, including approximately 4 percentage points related to the acquisition by IFF of Ottens Flavors. Flavors growth was led by high-single-digit increases in North America and Latin America and low-single-digit growth in Greater Asia. Currency neutral Fragrance sales improved 8%, including approximately 4 percentage points related to the acquisition by IFF of Lucas Meyer Cosmetics. For fragrances, all regions delivered growth led by a double-digit increase in North America and high-single digit growth in Latin America.
Sensient F&F 1st Qtr 2016 Sales - Milwaukee, April 19, 2016 - The Flavors & Fragrances Group reported first quarter revenue of $198.3 million, a decrease of 3.7% from $206.0 million reported in last year's first quarter. Segment operating income was down -9.7% to $27.5 million compared to $30.5 million in the first quarter of 2015. It should be noted that these figures include items not normally considered Flavors & Fragrances - mainly natural ingredients such as dehydrated vegetables.
Givaudan 1st Qtr 2016 Sales - Geneva, 12 April 2016 - In the first three months of 2016, Givaudan recorded sales of CHF 1,152 million, an increase of 5.8% on a like-for-like basis, and 5.6% in Swiss francs compared to the previous year. In the first three months of 2016, Givaudan recorded sales of CHF 1,152 million, an increase of 5.8% on a like-for-like basis, and 5.6% in Swiss francs compared to the previous year. Total sales of Fragrance compounds (Fine Fragrances and Consumer Products combined) increased by 9.5% on a like-for-like basis. In Swiss francs, sales of compounds increased by 7.4% to CHF 483 million in 2016 from CHF 450 million in 2015. The Flavour Division reported sales of CHF 591 million, a growth of 3.5% on a like-for-like basis and an increase of 3.4% in Swiss francs.
Jeanette Andrews - Thresholds - Unlocking Illusions for the Five Senses and Beyond - March 21, 2016 - Ms. Andrews indeed has demonstrated the magical illusion of perfume. In a recent Interactive Show at the Museum of Contemporary Art Chicago using a combination of research in philosophy, psychology, science and art, Jeanette Andrews drew in the crowd with not only her personality, but kept them there with her mind - astounding the audience by her illusions - Especially when she brought an audience member to the stage and created a scent from the lady's thoughts. What was scarier, was that the audience could smell it, also. And she assures me that "Scent" will continue to be an important theme in her work.
Evolva gains exclusive license to develop and commercialise nootkatone globally for pest control - 5 April 2016 – Evolva (SIX: EVE) announces that it has just signed a license agreement with the US Centers for Disease Control and Prevention (CDC) that grants Evolva the exclusive worldwide patent rights to develop and commercialise nootkatone for the control of a wide range of disease and virus vectors such as ticks, mosquitoes, fleas, flies, lice, bed bugs, and other biting insects. Evolva announced just recently that it is expanding its nootkatone research focus to include the mosquitoes that transmit Zika and other viruses. This expanded focus is included in the comprehensive Cooperative Research and Development Agreement (CRADA) now in place between Evolva and the CDC. The World Health Organisation (WHO) recently declared Zika virus a global public health emergency. Nootkatone could play an important role in the global response to the spread of Zika. CDC research has shown nootkatone both repels and kills the yellow fever mosquito, Aedes aegypti, and the black-legged tick, Ixodes scapularis which transmits Lyme disease. Nootkatone appears to have a mode of action distinct from that of currently used pesticides and therefore could potentially be valuable for mitigating pesticide resistance in mosquito vectors. Nootkatone already occurs in the natural environment and has an established track record as a flavor and fragrance ingredient, providing attractive characteristics in a number of respects. Nootkatone can be extracted in minute quantities from the skin of grapefruit or the bark of the Alaska yellow cedar (also known as the Nootka cypress), or produced on an industrial scale from brewing via yeast fermentation. Evolva is currently performing all necessary safety and efficacy studies to get nootkatone approved by the US Environmental Protection Agency, initially as a repellent against the blacklegged tick. "We now have the tools in place to accelerate the research and commercial development of nootkatone as a next-generation pest control compound against a broad range of biting insects, including the mosquitoes that transmit Zika, chikungunya, dengue, and West Nile viruses," said Evolva CEO Neil Goldsmith.
Frutarom Full Year 2015 Sales - Haifa, Israel – March 17, 2016 - Frutarom's sales in 2015 as reported in US dollars grew 6.5% to reach a record US$ 872.8 million, reflecting constant-currency growth over the previous year of 4.9% on a pro-forma basis. Sales for the Flavors activity in 2015 as reported in US dollars rose 3.0% to reach a record US$ 607.5 million compared with US$ 589.8 million the previous year, reflecting constant-currency growth on a pro-forma basis of 5.3% from the parallel period. Currency effects reduced sales on a pro-forma basis by 14.3%. Sales for the Specialty Fine Ingredients activity in 2015 as reported in US dollars rose 16.8% to reach US$ 184.9 million compared with US$ 158.4 million the previous year, reflecting constant-currency growth on a pro-forma basis of 1.5% from the parallel period. Currency effects reduced sales on a pro-forma basis by 6.0%. Reported net income for 2015 rose 9.7% and reached a record US$ 96.1 million.
Symrise Full Year 2015 Sales - March 8, 2016 - Symrise 2015 sales increased to � 2,601.7 million (2014: � 2,120.1 million). This represents growth of 23 % in reporting currency and 18 % at local currency. The Diana Group, which was acquired in mid-2014 and is now fully integrated, contributed sales of � 524.8 million (2014: � 233.9 million). Excluding the contribution of Diana, Symrise also generated strong sales growth with 10 % in reporting currency and 6 % at local currency. Symrise increased its net income in the year under review by 17 % to � 246.8 million (2014 normalized: � 211.6 million). The Scent & Care segment achieved sales of � 1,073.7 million in 2015 (2014: � 980.4 million). This represents an increase of 10 % (4 % at local currency). All business divisions contributed to growth, in particular Aroma Molecules and Cosmetic Ingredients. Symrise benefited above all from strong demand for menthol and cosmetic active ingredients. Flavor & Nutrition experienced a substantial 34 % increase in sales (31 % at local currency) and benefited in particular from strong demand for beverages and savory applications. However, in the Symrise 2016 annual report the Nutrition sales of 547.8 million euros were separated out from the Flavor sales. Flavor sales were therefor 980.2 million euros resulting in the the total F&F sales of the company being 2,053.9 million euros. The Diana Group also achieved strong growth, especially with pet food and aquaculture applications. Excluding Diana, sales increased by 11 % (8 % at local currency). In January 2016 Symrise expanded its fragrance activities with the acquisition of US-based Pinova Holdings, Inc. (including Renessenz). This has given the company access to additional natural ingredients which are used in perfume compositions. Moreover, Symrise has expanded its forward integration in menthol to include cooling substances for oral care.
Robertet Full Year 2015 Sales - March 7, 2016 - Robertet has reported that its net consolidated sales in 2015 totaled EUR 435 million, up 11.6% compared to 2014. At constant rates and structure, turnover was up 7.5%. Turnover achieved was 85% abroad and all geographies are growing. Europe posted strong growth thanks to the good performance of the Commodities Division and Latin America thanks to the recovery of Brazil. The unaudited consolidated net profit should be around 36 million euros, an increase of 22%, higher than expected. Final results will be published no later than 30 April 2016.
Mane - Full Year 2015 Sales increase - March 1, 2016 - Mane achieved sales of � 947.6 million (+23.1%) vs � 769 million in 2014 (personal communication). Sales growth was +15.0% in local currencies.
Takasago 9 Month 2015-2016 Sales - February 18, 2016 - Takasago 9 month sales for the period ending December 31, 2015 were ¥ 107,759 million (+8%). 9 month net income increased 35.9% to ¥ 5,081 millon.
IFF Full Year 2015 Sales - February 10, 2016 - IFF's net sales for 2015 were $3,023.2 million, a decline of 2.1%. Adjusted Currency Neutral Sales increased 5%. Net income for the year declined 0.7% to $411.7 million. 4th Qtr sales declined 5.3% to $715.6 million. Full year Flavor sales declined 1% to $1,443 million. Full year Fragrance sales declined 3.1% to $1,580.2 million.
T. Hasegawa 1st Qtr 2015-2016 Sales Results - February 5, 2016 - Sales for the 1st Qtr 2015-2016 period ending Dec. 31, 2015 were up 7.5% to ¥ 11,209 million compared to ¥ 10,430 million in the prior year. Net income for the period increased 29.2% to ¥ 713 million.
Sensient F&F Full Year 2015 Sales - Milwaukee, Feb. 04, 2016 - The Flavors & Fragrances Group reported revenue of $819.0 million for the year ended December 31, 2015, a decrease of 3.8% from $851.5 million reported in 2014. Operating income increased approximately 1%, to $121.9 million in 2015, from $120.9 million in 2014. The Flavors & Fragrances Group reported fourth quarter revenue of $201.0 million, a decrease of 1% from $203.1 million reported in last year's fourth quarter. Operating income increased 6.3% to $27.5 million compared to $25.9 million in the fourth quarter of 2014. The above figures includes items not normally considered Flavors & Fragrances - mainly natural ingredients such as dehydrated vegetables. Excluding these items, sales of traditional Flavors & Fragrances in 2015 were $667.9 million vs $715.8 million in 2014 as restated (-6.7%).
Givaudan Full Year 2015 Sales - Geneva, 2 February 2016 - Givaudan Group full year sales were CHF 4,396 million, an increase of 2.7% on a like-for-like basis and a decline of 0.2% in Swiss francs when compared to 2014. Fragrance Division sales were CHF 2,096 million, an increase of 1.9% on a like-for-like basis and a decline of 0.6% in Swiss francs. Flavour Division sales were CHF 2,300 million, an increase of 3.5% on a like-for-like basis and 0.2% in Swiss francs. Net income increased to CHF 635 million in 2015 from CHF 563 million in 2014, an increase of 12.7%. This results in a net profit margin of 14.4%, versus 12.8% in 2014.
Wild Flavors and Specialty Ingredients (WFSI) Full Year 2015 Sales - Chicago, February 2, 2016 - WFSI full year revenues were $2,047 million compared to $1,368 million in 2014. A significant part of the sales increase was due to non-flavor ingredients sales after ADM's acquisition and the Flavor sales portion is not reported.
Huaboa Intl. Half Year 2015-2016 Sales - November 27, 2015 - Huaboa International net sales for the half year ending September 30, 2015 were 1,693.0 million Hong Kong dollars (-21.3%) of which 82.3% was from the flavors & fragrance related segments. The F&F segments sales decrease was -14.3% to 1,394.2 million HKD.
The Inexorable Rise Of Synthetic Flavor: A Pictorial History – November 23, 2015 - Nadia Berenstein gives us the story - From vanilla to GMOs, how science shaped the taste of the modern world. Great historical pictures.
Frutarom 9 Month 2015 Sales - Haifa, Israel – November 19, 2015 - Frutarom Industries Ltd. reports, attaining in the first nine months of 2015, record levels in sales reaching US$ 647.2 million (+4.8%), and in net income reaching US$ 72.6 million. Frutarom's sales in the third quarter of 2015 rose by 11.3% to reach a quarterly record of US$ 234.5 million compared with US$ 210.8 million in the parallel quarter, reflecting constant-currency growth on a pro-forma basis4 of 4.5% from the parallel period.
Robertet 9 Month 2015 Sales - November 16, 2015 - Robertet has reported 9 month sales of 326.4 million euros (+10.9%). Flavor sales increased 8.9% to 123.6 million euros. Fragrance sales were 118.1 million euros (+11.5%). Raw materials increased 12.7% to 82.4 million euros. Other income was 2.3 million euros.
Takasago Half Year 2015-2016 Sales - November 11, 2015 - Takasago half year sales for the period ending September 30, 2015 were ¥ 72,123 million, an increase of 8.8% over the prior year period. Operating income increased 67.1% to ¥ 4,529 million. Net income increased to ¥ 4,057 million (+202%)
Symrise 9 Month 2015 Sales – November 11, 2015 - For the first nine months of 2015, Symrise outperformed the overall market and significantly boosted its earnings. The Group benefited from strong demand in both business segments and in all regions. Symrise increased its sales by 29% to �1,977.0 million (9M 2014: �1,530.0 million) and its earnings before interest, taxes, depreciation and amortization (EBITDA) by 30% to �448.5 million (9M 2014 normalized: �343.8 million). Sales in the Scent & Care segment rose by 10% to �812.3 million (9M 2014: �736.8 million). The Flavor & Nutrition segment increased sales by 47% to �1,164.7 million (9M 2014: �793.2 million) in the first nine months of the year. At local currency, this amounts to a 41% gain. Even without the Diana Group, the segment achieved strong organic growth and increased sales by 13% (9% in local currency).
T. Hasegawa Full Year 2014-2015 Sales Results - November 11, 2015 - for the 12 months ending September 30, 2015, T. Hasegawa's consolidated net sales were up 5.1% to ¥ 47,228 million compared to ¥ 44,917 in the prior year. Net income for the period declined 6.0% to ¥ 3,043 million.
IFF 9 Month 2015 Sales - New York - November 9, 2015 - IFF's nine month 2015 sales were $2,307.5 million (-1.1%). 3d Qtr sales also declined 1.1% to $765.1 million. Nine month net income increased 4.8% to $340.1 million. Nine month Flavor sales increased by 0.7% to $1,108.7 million while nine month fragrance sales declined 2.7% to $1,198.9 million.
Firmenich supports world-class research as it celebrates its 120th anniversary - Geneva, Switzerland, November 2nd 2015 – Marking its 120th Anniversary, Firmenich proudly announces the creation of two "Next Generation" Firmenich programs to advance basic Research in the areas of Neurosciences and Sustainability. Firmenich established these endowed initiatives at leading universities in its two chosen fields, Stanford University in the United States and the Ecole Polytechnique Fédérale de Lausanne (EPFL) in Switzerland.
Sensient F&F 9 Month 2015 Sales - Milwaukee, Oct. 21, 2015 - The Flavors & Fragrances Group reported 9 month sales revenues of $618.0 million vs. $648.5 million in 2014 (-4.7%). Operating income for Flavors & Fragrances declined 0.7% to $94.4 million. 3rd Qtr F&F sales declined 4.3% to $207.4 million. F&F 3rd Qtr operating income was $31.4 million (+2.5%).
Givaudan 9 Month 2015 Sales - Geneva, 9 October 2015 - In the first nine months of 2015 Givaudan recorded sales of CHF 3,296 million, an increase of 2.0% on a like-for-like basis and a decline of 0.5% in Swiss francs compared to the previous year. Including Soliance and the recently acquired company Induchem, the growth was 1.8% in local currencies. Induchem contributed CHF 2 million following the acquisition on 31 August 2015. 3rd Qtr Group sales were CHF 1,112 million (-0.9%) and +3.3% on a like-for-like basis. Fragrance Division sales were CHF 1,563 million for the first nine months of 2015, an increase of 0.7% on a like-for-like basis and a decline of 1.5% in Swiss francs. 3rd Qtr Fragrance sales were CHF 540 million (-2.2%) and +2.0% on a like-for-like basis. Flavour Division sales were CHF 1,733 million during the first nine months of 2015, an increase of 3.3% on a like-for-like basis and +0.4% in Swiss francs. 3rd Qtr Flavour sales were CHF 572 million (+0.4%) and +4.6% on a like-for-like basis.
Firmenich 2014-2015 Sales - Oct. 7, 2015 - For the financial year ended June 30, 2015, Firmenich posted sales of ~CHF 3,008 million, an increase of 1.9% in Swiss francs and 3% in local currencies. For the first time this year, Firmenich issued an integrated report, sharing both its Business and Sustainability Performance, as they go hand in hand, at the core of the Group's vision and strategy.
Frutarom 1st Qtr 2015 Sales - Haifa, Israel – May 20, 2015 - Frutarom sales in the 1st Qtr were US$ 194.2 million (+3.0%). 1st Qtr 2015 net profit rose by 17.1% to reach US$ 21.4 million, compared to US$ 18.3 million in the 1st Qtr 2014. Frutarom sales from Flavors activity in Q1 2015 as reported in US dollar terms totaled US$ 133.4 million as opposed to US$ 134.2 million in Q1 2014. Frutarom sales from Specialty Fine Ingredients activity in Q1 2015 as reported in US dollar terms rose 5.5% to reach US$ 43.2 million as opposed to US$ 41.0 million in Q1 2014.
A doctoral defense delayed by injustice - for 77 years - We've heard of people taking a long time to get their Ph.D.s, but Ingeborg Syllm-Rapoport surely holds the record. More than 8 decades elapsed between the time she entered graduate school studying diphtheria at the University of Hamburg in Germany and her successful thesis defense.
Takasago Full Year 2014-2015 Sales - May 14, 2015 - Takasago sales increased 0.5% to ¥ 131,653 million from ¥ 131,036 in the prior year ending March 31. Net income decreased 15.7% to ¥ 2,549 million from ¥ 3,025 milllion.
IFF 1st Qtr 2015 Sales - New York - May 12, 2015 - IFF 1st Qtr sales increased $4.7 million, or 0.6%, to $774.9 million from $770.2 million in the prior year quarter. Currency neutral sales (formerly referred to as local currency sales) increased 6% reflecting broad-based growth in both businesses and across all regions. Sales to the emerging markets, which now represent 51% of total company sales, grew 9% on a currency neutral basis. 1st Qtr 2015 Flavor sales were $377.1 million (+2.9%). Currency neutral Flavor sales grew 9% in the first quarter with growth across all regions led by double-digit growth in Latin America and North America and high single-digit growth in EAME. Fragrance sales were $397.8 million (-1.5%). Currency neutral Fragrance sales growth was +5%. IFF's 1st Qtr net income was $128.3 million, +20.2% from 2014.
T. Hasegawa Half Year 2014-2015 Sales Results - May 11, 2015 - for the 1st 6 months ending March 31, 2015, T. Hasegawa reported sales of ¥ 21,879 million compared to ¥ 21,696 million in the prior year period, an increase of 0.8%. Half year net income declined 25.2% to ¥ 1,573 million.
Vibration Theory of Olfaction Takes a Hit - May 8, 2015 - An international team of scientists led by University at Albany Distinguished Professor of Chemistry Eric Block, have demonstrated that the vibrational theory of olfaction, one of the two major theories explaining how the sense of smell functions, is not plausible. In a paper entitled "Implausibility of the vibrational theory of olfaction" (Proc. Natl. Acad. Sci. USA 2015, DOI: 10.1073/pnas.1503054112), Block and co-authors found that the human musk-recognizing receptor, OR5AN1, identified using a heterologous OR expression system and robustly responding to cyclopentadecanone (Exaltone®) and muscone, fails to distinguish isotopomers of these compounds in vitro. Furthermore, the mouse (methylthio)methanethiol-recognizing receptor, MOR244-3, as well as other selected human and mouse ORs, responded similarly to normal, deuterated, and 13C isotopomers of their respective ligands, paralleling results with the musk receptor OR5AN1. These findings suggest that Luca Turin's proposed vibration theory does not apply to the human musk receptor OR5AN1, mouse thiol receptor MOR244-3, or other ORs examined. Also, contrary to the vibration theory predictions, muscone-d30 lacks the 1,380- to 1,550-cm-1 IR bands claimed to be essential for musk odor. Furthermore, theoretical analysis shows that the proposed electron transfer mechanism of the vibrational frequencies of odorants could be easily suppressed by quantum effects of nonodorant molecular vibrational modes. These and other concerns about electron transfer at ORs, together with extensive experimental data, argue against the plausibility of the vibration theory. In the May 4th issue of C&EN News Turin responded "...that Block and colleagues did their experiments with cells in a dish rather than within whole organisms. ... and that expressing an olfactory receptor in human embryonic kidney cells doesn't adequately reconstitute the complex nature of olfaction and is not biologically significant". Block and colleagues responded at http://www.pnas.org/content/112/25/E3155.full
Symrise 1st Qtr 2015 Sales - Holzminden, Germany - May 5, 2015 - Symrise 1st Qtr 2015 group sales increased 42.2% in euros (and 33% in local currencies) to � 668 million from � 469.6 million in the first 3 months of 2014. Net income for the period increased 31 % to � 68.0 million vs � 51.9 in 2014. Flavor & Nutrition posted a sales growth of 79.2 % (70 % at local currency) in the first quarter, with sales totaling � 385.3 million (Qtr1 2014 = � 215.0 million). Scent & Care 1st Qtr sales increased by 11.1 % to � 282.8 million (3% in local currencies) vs. 2014 sales of � 254.6 million. Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, said: "We had an excellent start into the year. The strong growth across all segments and regions shows that we are ideally positioned with our clear strategy and unique set-up. Diana has more than fulfilled our expectations following its integration. But Symrise also achieved new records in terms of growth and profitability with its existing customer base. Despite uncertainties in individual markets, we remain confident for the coming quarters."
IFF Completes Acquisition of Ottens Flavors - New York, May 1, 2015 - International Flavors & Fragrances Inc. (NYSE:IFF), a leading global creator of flavors and fragrances for consumer products, today announced that it has successfully completed the previously announced acquisition of Henry H. Ottens Manufacturing Co., Inc. Financial terms of the transaction were not disclosed.
Sensient F&F 1st Qtr 2015 Sales - Milwaukee, April 20, 2015 - The Flavors & Fragrances Group reported first quarter revenue of $206.0 million compared to the $214.3 million reported in last year's first quarter (-3.9%). Operating income increased 0.7% to $30.5 million, compared to $30.2 million in the first quarter of 2014. Beginning in the first quarter of 2015, the results of operations for the Company's businesses in Central and South America, previously reported in the Corporate & Other segment, are now reported in the Flavors & Fragrances segment. Results for 2014 have been restated to reflect these changes. The 2015 and 2014 restructuring and other costs related to continuing operations are reported in the Corporate & Other segment.
IFF to Acquire Ottens Flavors to Strengthen North American Business - New York, April 13, 2015 - International Flavors & Fragrances Inc. announced that it has entered into an agreement to acquire Henry H. Ottens Manufacturing Co., Inc. "This acquisition is an exciting one as it's the first step in our redefined strategy to win where we compete," said IFF Chairman and CEO Andreas Fibig". "Once completed, the deal will strengthen our operations in North America and enhance our ability to meet the needs of our customers through a differentiated service model geared towards enhancing collaboration and building greater customer intimacy. We're looking forward to welcoming Ottens Flavors' employees into the IFF family." The transaction, which will be funded from existing resources, is expected to add approximately $60 million in revenue on an annualized basis and be slightly accretive to IFF's earnings per share in 2015, excluding transaction costs. Financial terms of the deal have not been disclosed.
Givaudan 1st Qtr 2015 Sales - Geneva, 10 Apr 2015 - In the first three months of 2015, Givaudan recorded sales of CHF 1,091 million, an increase of 0.9% on a like-for-like basis, and 0.4% in Swiss francs compared to the previous year. The Fragrance Division recorded sales of CHF 519 million, a growth of 0.3% on a like-for-like basis and an increase of 0.7% in Swiss francs. Including Soliance, the growth was 2.0% in local currencies. The sales of Soliance, which was acquired on 2 June 2014, amounted to CHF 8 million for the first three months of 2015, a double-digit growth when compared to the same period of last year. The Flavour Division reported sales of CHF 572 million, a growth of 1.5% on a like-for-like basis and a slight increase of 0.1% in Swiss francs.
Food for fuel: Biofuels policies cut emissions by cutting food consumption- April 9, 2015 - Biofuels policies rely on cutting food consumption in order to reduce emissions, according to a study published in the journal Science.
Firmenich Appoints New Chief Research Officer - Geneva, Switzerland, March 24, 2015 – Firmenich appoints Professor Geneviève Berger as Chief Research Officer, effective July 1st 2015. She will report directly into the Group CEO, Gilbert Ghostine, as a member of his executive team, after most recently serving as Chief Research and Development Officer at Unilever. Professor Berger will be based in Geneva, Switzerland and succeed to Dr. Toni Gautier, who is retiring from the Group at the end of June.
Frutarom Full Year 2014 Sales - Haifa, Israel – March 16, 2015 - Frutarom sales for the full year 2014 increased 21.6% to U.S. $819.5 million. Net income for the year increased 37.7% to $87.6 million. Flavors and Specialty Fine Ingredients sales grew to $741.0 million (+16.9%).
T. Hasegawa 1st Qtr 2014-2015 Sales Results - for the 3 months ending December 31, 2014 T. Hasegawa's consolidated net sales were down -3.5% to ¥ 10,430 million compared to ¥ 10,806 in the prior year. Net income for the period declined 34.8% to ¥ 552 million.
Symrise Full Year 2014 Sales - Holzminden, Germany - March 10, 2015 - In the fiscal year 2014, Symrise AG exceeded its targets and substantially expanded its market position. Group sales increased 15.8% to � 2120.1 million from � 1830.4 million in 2013. In local currencies, sales increased 18.3%. 4th Qtr performance was particularly strong, with an increase in Group sales to � 590.1 million vs. 2013 at � 429.2 million (+37.5%). Net income normalized for one-time effects was up 23 % to � 211.6 million. Full year Scent & Care sales were � 980.4 million vs. � 960.4 million in 2013 (+2.1%). Full year Flavor & Nutrition sales increased 31% to � 1139.7 million vs. � 869.9 million in 2013. This includes � 233.9 million contributed from the Diana Group acquisition since July 2014.
Robertet Full Year 2014 Sales - 3 March 2015 - Robertet has reported 12 month revenues of 390.1 million euros (+0.2% from 2013).
Takasago 9 Month 2014-2015 Sales - February 12, 2015 - Takasago's 9 Month sales for the period ending December 31 were ¥ 99,085 million (-0.3%). Net income for the 9 month period declined 3.6 % to ¥ 3,256 million.
IFF Full Year 2014 Sales - New York - February 12, 2015 - Reported net sales for the 2014 full year were $3,088.5 million, up +4.6% from 2013. For the full year, Flavor sales were up +2.4% to $1,457.1 million, while Fragrance sales increased to $1,631.5 million (+6.6%). In the 4th Qtr., IFF net sales increased +4.3% to $756.1 million vs 2013. 4th Qtr. Flavor sales were $356.3 million (+3.9%) while Fragrance sales were $399.8 million (+4.6%). IFF's 2014 net income was $414.5 million, +17.3% from 2013.
Sensient F&F Full Year 2014 Sales - Milwaukee, Feb. 5, 2015 - Sensient's Flavors & Fragrances Group reported full year revenue of $847.0 million and $876.5 million in 2014 and 2013, respectively (-3.4%). Operating income was $119.1 million for the year compared to $120.3 million last year. Foreign currency translation reduced both revenue and operating income by approximately one percent in 2014. In local currency, revenue was off about 1%, and operating income was comparable to 2013. 4th quarter revenue was $201.9 million compared to the $209.0 million in 2013 (-3.4%).
Mane - Full Year 2014 Sales increase - February 4, 2015 - Mane achieved sales of � 769 million in 2014, up 6.4% from � 723 million in 2013. Using the 2014 yearly average EUR/USD Forex exchange rate, 2014 sales in USD were $ 1,022 million (personal communication).
Carl Djerassi (1923-2015)
Dr. Carl Djerassi, renowned scientist, author, and philanthropist, died peacefully, surrounded by family and loved ones, in his home in San Francisco, California on Friday, January 30, 2015. He was 91. His life and career included remarkable productivity and achievement in science, academia, and the arts, as well as personal tragedy in his expulsion from his childhood home following the Nazi Anschluss in 1938. Best known as one of the inventors who patented the key ingredient that led to the development of the first oral contraceptive in 1951. He was also instrumental in creating the first commercial antihistamines in the 1940s. He was the author of more than 1,200 scientific articles.Throughout the 1960s and 1970s, Djerassi continued to do significant scientific work, as a professor in the Department of Chemistry at Stanford University, and as an entrepreneur. He pioneered novel physical research techniques for mass spectrometry and optical rotatory dispersion and applied them to the areas of organic chemistry and the life sciences.
Givaudan Full Year 2014 Sales - Geneva, 29 January 2015 – For the full year 2014 Givaudan recorded sales of CHF 4,404 million, an increase of 3.7% on a like-for-like basis and 0.8% in Swiss francs when compared to 2013. Net income was CHF 563 million, up 14.9% year on year. Developing markets grew 7.0%, and mature markets grew 1.1%, both on a like-for-like basis. Fragrance Division sales were CHF 2,108 million, an increase of 3.6% on a like-for-like basis and 1.2% in Swiss francs. Flavour Division sales were CHF 2,296 million, an increase of 3.7% on a like-for-like basis and 0.4% in Swiss francs.
In Memoriam of E. Demp Alford - January 8, 2015 - On January 7th, 2015 Demp Alford passed away at the age of 74 in Louisville KY. A career mass spectroscopist and President of Alford Consulting for the last 20 years, he was well known to those in the flavor & fragrance industry for his unique ability to unravel the most difficult GC-MS analyses. His consulting clients included many well-known companies in the USA, Japan, India and Europe. He was often sought after to assist companies in improving their own GC-MS laboratory techniques.
His generosity in assisting others is exemplified by a note I received from someone he assisted in setting up to be a competitor. "My [GC-MS] consulting business is doing really good and I am so grateful for the opportunity Demp gave me. I think he believed in me before I believed in myself...".
He was an avid gardener, feeding many friends, neighbors and people in need every year. He was known for his strong work ethic, sharp mind and a wonderful sense of humor. He is survived by his wife Donna, his daughter Nikola and three brothers.
Perilla aldehyde (p-Mentha-1,8-dien-7-al) is deleted as an approved flavorant by the EU - October 1, 2015 - On July 23, 2015 EFSA reported that the flavouring substance p-Mentha-1,8-dien-7-al (Perilla aldehyde) has been shown to be genotoxic (damaging to DNA) in a new study on animals, evaluated by EFSA's experts. On October 1, 2015 - in COMMISSION REGULATION (EU) 2015/1760 - p-Mentha-1,8-dien-7-al was removed from the list of approved flavorants.
Eugene S. Buday - September 28, 2015 - Gene Buday, founder of GSB & Associates, Flavor Creators in Kennesaw, Georgia has passed away at age 82. His career, which began in the 1950s, included roles with Felton, Polak's Frutal Works (PFW), Hercules, Synfleur, Fries and Fries, Aromatics International and AFF. Buday established GSB & Associates, Inc, in 1984. He was a certified flavor chemist and past president of the Society of Flavor Chemists. Buday remained active in the industry until his passing. Mr. Buday is survived by his wife, Anne Buday, son, Steven Buday, daughter, Corinne Baskin, and his son in law, Michael Baskin. Buday's services will be private. The family asks that any contributions be sent to Wellstar Community Hospice at Kennesaw Mountain, 200 South Park Place, Suite 202, Atlanta, GA 30339.
Symrise to Acquire Pinova Holdings – September 21, 2015 - Symrise is acquiring Pinova Holdings for US$ 397 million. Subject to conditions to be met within 12 months, the seller will receive a premium of US$ 20 million. Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, said: "With the acquisition of Pinova Holdings, which owns the operating companies Pinova and Renessenz, we are taking a big step in the growth of our Aroma Molecules business. In view of the increasing importance of natural and renewable raw materials for the fragrance industry, the product range ideally complements our current portfolio. Pinova Holdings has recognized expertise and is very well positioned in that area. In addition, Pinova Holdings will broaden our portfolio of ingredients in Oral Care as well as some attractive new market segments. At the same time, the company will benefit from our global presence and sales structure as well as our R&D expertise." The product portfolio of Pinova Holdings comprises numerous specialized products in three business segments. In the Fragrance Ingredients segment the company is a leading supplier of fragrances derived from natural and renewable raw materials, including products based on wood, orange oils and paper production by-products. Pinova Holdings will thus complement the existing portfolio of Symrise. As a result, the Group will have access to major and high-volume platforms for fragrance ingredients. In the Sensory Ingredients segment, Pinova Holdings main focus is on cooling substances used in combination with menthol-based products to enhance the cooling effect. They are used in the manufacturing of oral care products, chewing gum and beverages, among other areas. Symrise is one of the global leaders in the production of synthetic L-menthol, and with this acquisition is substantially strengthening its competitiveness in this particular field. Pinova Holdings has close customer relationships with leading global companies in the consumer goods industry, including – similar to Symrise – many long-term strategic partnerships. The company has manufacturing operations at three locations: Brunswick and Colonel's Island, Georgia, USA, and in Jacksonville, Florida, USA. In the fiscal year 2014, Pinova Holdings recorded sales of US$ 287 million with a workforce of about 400 employees. In the same period, the adjusted EBITDA amounted to US$ 37.4 million. Subject to regulatory approval, the deal is expected to close at the beginning of 2016. Symrise plans to move forward quickly with the integration of Pinova Holdings, expecting to achieve annually synergy effects worth � 20 million by 2020.

redpajama_set_name: RedPajamaCommonCrawl