2025年上半年业绩报告

Conference call for Investors and Analysts Q&A Sales performance Gilles AndrierChief Executive Officer 2025 Half year resultsStrong financial performance Strong sales growth Sales across all business segments, geographies and customer groups,demonstratedby continuedoutperformance in Fine Fragrance,a10.0%increase LFL* in thehigh growth marketsandsustained strong growth withlocal and regional customers ofCHF 3,864 million, anincrease of6.3%LFL*and3.4%in Swiss francs Comparable EBITDAofCHF 973 million,a margin of25.2%compared to24.8%in 2024 Free cash flow Net income ofCHF 592 million,compared to CHF 588million in 2024, resulting ina net profit margin of15.3% −0.4%of sales, mainly dueto the timing effects ofinvestments and taxpayments Half year sales performanceStrong growth in both divisions Sales evolution by marketStrong performance in high growth markets MATURE % of total sales% 2025 growth on LFL* basis% 2024 growth on LFL* basis___________________________________________________________________________________________________________________________________________________________________________ Sales evolution by regionAll regions contributing to the growth Fragrance & BeautySales growth of8.6%on a LFL* basis FRAGRANCE INGREDIENTS& ACTIVE BEAUTY CONSUMER PRODUCTS FINE FRAGRANCE Sales increased by18.0%LFL* Sales increased by6.1%LFL* Sales increased by5.7%LFL* Sustained strong growthin all categories, againsta very strong prior yeargrowth of 17.3% Strong double digitgrowth in Active Beautyoffset by softerperformance inFragrance Ingredients Excellent growth againsta strong comparableof 14.9% Strong contributionfrom existing businessand new wins Taste & WellbeingSales growth of4.1%on a LFL* basis SALES COMMENTARY •Good volume growth across all markets and regions•Double-digit growth in SAMEA against strong prior year comparable•Broad based growth across the segments of snacks and sweet goods, aswell as in dairy and health care Addressing customer needs and consumer trends2025 Half year innovation highlights EVERZUREGALDIERIA MYROMI ZENSERA Patent-pendinglemon balm extractsupporting calmnessand improvingcognitiveperformance understress Our newhandheld, app-controlled aromadevice enablingreal-time creation,feedback, andfaster productdevelopment FDA approvednatural colour,witha vibrancy thatmirrors Blue 1 andoffering newpossibilities forbeverages andconfections CHERISCENTZ GUARDIANSOF MEMORIES EVERNITYL Transforming freshalgae into a high-precision beautyingredientcombatting skinageing andpromoting youthfulskin Empowering ourperfumers to createscents that evokesensuality in theircreation Our interactiveand educationalgame immersingfuture fragranceconsumers fromGen Z and Alphain the world ofolfactory creation Stewart HarrisOperating performance Chief Financial Officer 2025 Half year resultsPerformance highlights Comparable EBITDA marginofCHF 973 millioncompared to CHF 929million, a margin of25.2%,versus24.8%in 2024 Sales Reported EBITDA ofCHF 3,864 million,anincrease of6.3%LFL* basis and3.4%in Swiss francs ofCHF 945 millioncompared toCHF 906 million, with an EBITDAmargin of24.5%compared to24.2%in 2024 Free Cash Flow Net debt to EBITDA ratio Income before tax Net income CHF−16 million,or−0.4%of sales,mainly due to thetiming effects ofinvestments and taxpayments at2.5, compared with2.9as at 30 June 2024and2.3as at 31December 2024 ofCHF 713 millionvs CHF 700 millionin 2024, an increaseof1.9% ofCHF 592 million,compared to CHF 588million in 2024,resulting in a net profitmargin of15.3% Half year results Operating performanceGroup Gross marginof44.0%compared to 44.1% in 2024 •Stable gross margin, despite higher input costs, including globaltrade tariff impacts •Acquisition, restructuring and project related costs of CHF 19million, compared to CHF 23 million in 2024•Expenses of CHF 9 million in relation to the Louisville accident EBITDAmarginof24.5%compared to 24.2% in 2024 Comparable EBITDA marginat25.2%versus 24.8% in2024 Operating performanceFragrance & Beauty EBITDAof CHF525 million increased from CHF 500 million in 2024 •Acquisition, restructuring and project related costs of CHF 15 million,compared to CHF 14 million in 2024, mainly related to costsincurred for the competition authorities' investigations EBITDAmarginof26.9%compared to 27.3% in 2024 Comparable EBITDA marginat27.6%versus 28.1% in2024, driven by investments in growth Operating performanceTaste & Wellbeing EBITDAof CHF420 million increased from CHF 406 million in 2024 •Expenses of CHF 9 million in relation to the Louisville accident•Acquisition, restructuring and project related costs of CHF 4 millionmostly related to remaining costs for footprint optimisation EBITDA marginof22.0%compared to 21.3% in 2024 Comparable EBITDA marginat22.7%versus 21.7% in2024, with benefits of asset footprint optimization comingthrough Net income15.3% of sales Income before taxof CHF713 mill