DAVY VIEW

Givaudan’s new medium-term strategy reflects growth targets in line with the previous cycle at 4-5% average organic sales growth and free cash flow of at least 12%. Three factors underpin its growth targets: portfolio expansion (into nutrition, food ingredients and beauty), customer expansion (including more tailored solutions) and focused market strategies, with China a call-out. Givaudan is making a concerted effort to integrate its sustainability credentials into its growth ambitions as it pursues B Corp certification. Today’s half-year conference will provide further detail on its stated ambitions.