DOCSLIB.ORG

Registration Document Financial Annual Report 2012

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Registration Document Financial Annual Report 2012 REGISTRATION DOCUMENT FINANCIAL ANNUAL REPORT 2012 Registration Document Financial Annual Report Year ending 31 December 2012 The present document was submitted to the French Securities Regulator (AMF) on 26 April 2012 in accordance with Article 212-13 of its General Regulations. It may be used to support a financial transaction if it is accompanied by a prospectus approved by the AMF. This document was drawn up by the Issuer and incurs the liability of its signatories. Pursuant to Article 28 of EC Regulation No. 809/2004 on prospectuses, the following information is incorporated by reference into this registration document: - the annual financial statements of NATUREX S.A as well as the statutory auditors’ report on the annual financial statements of NATUREX S.A for the financial year ended 31 December 201 as presented on pages 195 to 222 of the registration document filed with the French Securities Regulator (AMF) on 26 April 2012 under number D.12- 0424; - the consolidated financial statements of the Group as well as the statutory auditors’ report on the consolidated financial statements for the financial year ended 31 December 2011 as presented on pages 143 to 194 of the registration document filed with the French Securities Regulator (AMF) on 26 April 2012 under No. D.11-0424. - the annual financial statements of NATUREX S.A as well as the statutory auditors’ report on the annual financial statements of NATUREX S.A for the financial year ended 31 December 2010 as presented on pages 181 to 201 of the registration document filed with the French Securities Regulator (AMF) on 28 April 2011 under number D.11- 0389; - the consolidated financial statements of the Group as well as the statutory auditors’ report on the consolidated financial statements for the financial year ended 31 December 2010 as presented on pages 131 to 180 of the registration document filed with the French Securities Regulator (AMF) on 28 April 2011 under No. D.11-0389. The two aforementioned registration documents are available: - on the Company’s website, www.naturex.com, or - on the website of the French Securities Regulator (AMF), www.amf-france.org Copies of this Registration Document are available free of charge from: NATUREX SA, Site d’Agroparc – BP 1218 – 84911 Avignon Cedex 9 Contents 1. NATUREX AND ITS ENVIRONMENT History _______________________________________________________________________________ 2 Legal structure ________________________________________________________________________ 4 Key Figures 2012_______________________________________________________________________ 5 I- NATUREX: World leader in specialty plant-based natural ingredients ___________________________ 7 II- Solid positioning in high growth markets _________________________________________________ 20 2. SUSTAINABLE DEVELOPMENT I- Employee relations information _________________________________________________________ 36 II- Environmental responsibilities __________________________________________________________ 46 III- Identifying and managing the main factors of risk __________________________________________ 57 3. COMPANY GOVERNANCE AND ORGANISATION I- General information ___________________________________________________________________ 65 II- Chairman’s report on the conditions for preparing and organising of the Board of Directors’ work and the internal control procedures implemented ______________________________________________ 71 Statutory Auditors’ Report on the Chairman’s Report _______________________________________ 98 III- Corporate governance ________________________________________________________________ 100 4. CHANGES IN CAPITAL AND SHAREHOLDER STRUCTURE I- Changes in capital ___________________________________________________________________ 115 II- Changes and breakdown of the shareholder structure______________________________________ 122 III- Potential capital ______________________________________________________________________ 128 IV- Shareholder information ______________________________________________________________ 132 5. ANALYSIS OF OPERATIONS IN FY 2012 I- Comments on the 2012 consolidated financial statements __________________________________ 133 II- Comments on the NATUREX S.A. 2012 annual financial statements __________________________ 151 III- Research and development ____________________________________________________________ 156 IV- Sumptuary expenses _________________________________________________________________ 156 V- Proposal for the allocation of income and dividend distribution _____________________________ 157 VI- Dividends paid for the last three financial years ___________________________________________ 157 6. CONSOLIDATED FINANCIAL STATEMENTS AND NOTES AT 31 DECEMBER 2012 Consolidated balance sheet ___________________________________________________________ 160 Consolidated income statement ________________________________________________________ 161 Consolidated cash flow statement ______________________________________________________ 163 Change in consolidated shareholders' equity _____________________________________________ 164 Notes to the consolidated financial statements ___________________________________________ 166 Statutory Auditors’ Report on the consolidated financial statements _________________________ 219 7. NATUREX S.A FINANCIAL STATEMENTS AND NOTES AT 31 DECEMBER 2012 Balance Sheet _______________________________________________________________________ 224 Income statement ____________________________________________________________________ 225 Notes to the annual financial statements _________________________________________________ 226 Statutory Auditors’ Report on the annual financial statements _______________________________ 246 Statutory auditors’ special report on regulated agreements and commitments _________________ 248 8. RECENT DEVELOPMENTS AND OUTLOOK I- A very good start to 2013 ______________________________________________________________ 257 II- Forecasts ___________________________________________________________________________ 259 9. PERSONS RESPONSIBLE FOR THE REGISTRATION DOCUMENT AND AUDITING THE FINANCIAL STATEMENTS I- Person responsible for the registration document _________________________________________ 261 II- Person responsible for auditing the financial statements ___________________________________ 262 III- Information policy ____________________________________________________________________ 263 10. CROSS-REFERENCE TABLES WITH THE SCHEDULE OF EC REGULATION NO. 809/2004 Cross-reference table with the Schedule of EC Regulation no. 809/2004 _______________________________ 264 Cross-reference table with the information required in the annual financial report and the management report268 11. APPENDICES Statutory Auditors’ fees _______________________________________________________________________ 271 Annual registration document __________________________________________________________________ 272 Chapter 1 Naturex and its markets HISTORY 20 years of organic growth and market expansion 2013 The Group launches a new phase of development A solid foundation is laid with a capital structure supported by two long-term shareholders: SGD, held by Finasucre (the Lippens family) and Caravelle, held by Mrs. Martel Massignac. The Group also has optimised its organisation and operating capabilities to meet the challenges of the rapid growth of recent years, by strengthening its workforce and creating a Management Committee to implement its strategy. Finally, Naturex strengthened its financial base by an €18 million OCEANE convertible bond issue, with €12 million taken up by France's Strategic Investment Fund (Fonds stratégique d’Investissement or FSI) and €6 million by Salvepar (Tikehau Capital), providing additional resources to pursue its future expansion. Head office extension / Avignon 2012 Acquisition of Pektowin in Poland, Valentine in India and DBS in the United States 2012 was sadly marked by the sudden passing of Jacques Dikansky. In homage to his memory, Naturex foundation was renamed "Fondation Naturex-Jacques Dikansky". In 2012, Naturex finalised the acquisition programme launched in October 2011 with the addition of three new companies: Pektowin in Poland, specialised in the production of fruit and vegetable concentrated juices, Valentine India, specialised in the production of fruit and vegetable powders and natural colours and finally DBS in the United States, specialised in cranberry extracts. These acquisitions allowed Naturex to develop industrial bases in two emerging countries with strong growth potential and acquire a portfolio of high value added products with the acquisition of DBS. 2011 Burgundy acquisition (France and Spain) In October 2011, Naturex launched a rights issue that raised €48.8 million to finance a new acquisition cycle. Burgundy, specialised in the production and marketing of plant extracts for the nutraceutical, pharmaceutical and cosmetic industries, was the first in a series of acquisitions. With this addition, Naturex has two high- capacity quality pharmaceutical plants and benefits from an enhanced product line for the nutraceutical, pharmaceutical and cosmetic segments. 2010 Successful integration of the Ingredients Division of the Spanish group Natraceutical and continued sales development worldwide Naturex doubled its size in one year and posted record organic growth over the year, while continuing to develop its sales network. 2009 Acquisition of the Ingredients Division of the Spanish group, Natraceutical With this acquisition,
Load more

Recommended publications
  • Naturex Gains a Foothold in India with the Acquisition of Valentine, an Indian Producer of Fruit and Vegetable Powders and Natural Colours
    Naturex gains a foothold in India with the acquisition of Valentine, an Indian producer of fruit and vegetable powders and natural colours Avignon, March 22nd 2012 – Naturex announces the acquisition of Valentine, an Indian company specialised in the production of fruit and vegetable powders and natural colours for the food and beverage industry. Valentine has two production sites located near Mumbai. This third acquisition, since the capital increase in October 2011, fits with Naturex's strategy of development in emerging countries. A dynamic player in a market with high growth potential Naturex will significantly enhance its sales coverage in India through the acquisition of Valentine Agro Ltd, whose sales are mainly within this country. Thanks to its expertise in formulation and spray drying processes, Valentine has been able to win over the years the loyalty of a high-quality clientele within the Indian food industry, comprised of local companies as well as subsidiaries of multinationals. A strategic commercial and industrial presence in Asia Carrying out this operation offers major strategic advantages to Naturex, allowing it: - to become a local producer in India and being local is an important factor of success in Naturex's business. This first industrial setup in Asia will supplement the Group's regional production centres in Europe and in the Americas, in particular for natural colours; - to ensure promotion for all of the Group's product ranges while benefiting from the existing commercial structure and to develop close relations with the Indian food industry. A centralised sourcing model At the same time, Naturex sets up a purchasing office, like the one created in China a few years ago, in order to better benefit from the wealth of the country's raw materials (herbs, spices, plant extracts, etc.) at the scale of the group.
    [Show full text]
  • Naturex and Mazza Innovation Sign Processing Agreement
    Corporate Information NATUREX AND MAZZA INNOVATION SIGN PROCESSING AGREEMENT Naturex expands its use and commitment to green extraction technologies for clean-label products Press Release Avignon, France and Delta, British Columbia, Canada - 10 March 2016 - The NATUREX Group, the world leader in specialty plant-based natural ingredients, and MAZZA INNOVATION LTD., a world- leading provider of premium-quality, solvent-free botanical extracts, have signed an exclusive Agreement for use of Mazza’s patented pressurized low-polarity water (PLPW) technology to extract phytochemicals from cranberries. As part of the Agreement, Mazza shall use its PhytoClean™ extraction process to produce cranberry extracts exclusively for Naturex in its newly opened facility in British Columbia. The PhytoClean™ Method is an earth-friendly way to extract bioactives from plants using only water and produces clean, non-solvent-derived ingredients. The green technology efficiently extracts bioactive compounds, including polyphenols, alkaloids, glycosides and specialty carbohydrates that can be used as ingredients for functional foods, dietary supplements and beauty products. Olivier Rigaud, CEO of NATUREX, commented: “This open innovation partnership with Mazza Ltd is a great opportunity to bring the global market new natural clean-label ingredients using environmental friendly technologies. As one of the foremost companies in the field of natural healthcare solutions, Naturex is fully aware of the importance of supporting innovative ideas and processes from various sources. The collaboration with Mazza Ltd is one of the first steps in our recently-launched global Open Innovation program.” Benjamin Lightburn, President of Mazza Innovation, commented: “Naturex is a leader in the global nutraceuticals marketplace and we are pleased to sign this exclusive, long-term supply agreement for Mazza’s PhytoClean Cranberry extract just as our new production facility comes online.
    [Show full text]
  • Naturex Enriches Its Offering for the Personal Care Industry
    Naturex offers the Beauty and Personal Care industry natural functional possibilities with a water-extracted surfactant from Chile Avignon, 1st April 2015 – Naturex is launching Sapnov™, a natural foaming agent extracted from quillaia in Chile. By doing so, the company adds another type of ingredient to its existing ranges. Opening up to new market opportunities “With the goal of capturing and passing on the power of nature, adding this functional, natural and minimally processed ingredient to our portfolio seemed like a logical step,” stated Stéphanie Puel, Business Unit Director for Personal Care. “This ingredient also meets the demand for both sulphate- free, mild surfactants and biodegradable ingredients in finished products,” she added. Non-ionic surfactants are expected to enjoy one of the strongest CAGRs in shampoos between 2013 and 20181. Sapnov™ offers more than just natural foaming Sapnov™ is a non-ionic and water soluble surfactant that performs well versus synthetic surfactants. The ingredient is miscible with classical solvents, works in a wide range of pH and shows good stability even at high salt concentrations. Besides the fact that this foaming agent is 100% natural, the extract has other proven benefits that cannot be found in common surfactants. Indeed, various studies have shown that quillaia extracts have soothing and dermo-purifying properties. Tested in ex-vivo oral epithelium, Sapnov™ decreased the expression of interleukin 8 by 52% (interleukin 8 is a well-known marker of inflammation). To showcase the various possibilities of Sapnov™, the company has developed several applications that will be presented at Naturex’s booth – Stand 7J40 – at In-Cosmetics 2015: cleaning products for blemish-prone and sensitive skins, sulfate-free soothing shower gel and scalp soothing shampoo, baby wipes and natural toothpaste.
    [Show full text]
  • Naturex Specializes in a Large Number of Natural Ingredients
    Registration Document 2009 WorldReginfo - aad34789-8029-4cd5-bab6-006b20237c89 WorldReginfo - aad34789-8029-4cd5-bab6-006b20237c89 President's message Ladies and Gentlemen, Dear Shareholder, 2009 will go down in the history of Naturex group as a year of success: • commercial success first of all since, despite the economic decline, our group has achieved organic growth of over 5.5% in constant currencies by developing each of our different business lines; • financial success next, with the group's operating margin improving once again (12.8% of revenue), a record net profit of € 5.2 million and even stronger financials thanks notably to the € 17.3 million capital increase we carried out in February 2009 despite the financial crisis. On that note, my thanks obviously go out to all of our shareholders that took part in the operation for the confidence and trust that they have placed in the future of our group; • strategic success finally and above all as, with the acquisition of the Ingredients Division of Spanish group, Natraceutical, we have established ourselves as the global leader in specialty plant- based natural ingredients. Today, Naturex ranks as a key player on the fast-growing market of natural products with: • 3 product ranges that span the food, health and cosmetics sectors; • € 186 million in pro-forma revenues in 2009; • a 900-strong workforce around the world; • 11 production facilities; • 15 sales offices on all 5 continents. Backed by this new dimension, Naturex has entered another extremely promising phase in its development. Our priority for 2010 will be the successful integration of the Ingredients Division of Natraceutical group purchased at the end of 2009 - something we are very confident about given Naturex's proven ability to integrate its acquisitions.
    [Show full text]
  • Press Release
    PRESS RELEASE Sustainability is not optional for Naturex Avignon, July 2015 – In line with the Bright 2020 Strategic Plan, Naturex unveils its 2015 Sustainability Report. As a global manufacturer operating in more than 25 countries, natural resources and social responsibility are crucial to Naturex’s development. The new 2015 Pathfinder Report includes both an update on current sustainability actions and the company’s new global 2020 goals. Olivier Rigaud, Naturex’s CEO, comments: “Sustainability is vital for our business because nature nurtures all our future developments. It is a key pillar of our Bright 2020 Strategic Plan. Our long- term growth relies on our capability to take into account sustainability in our daily work.” The publication underlines how Naturex has made significant progress across all four themes of its sustainability focus areas – Sourcing, Operations, People, and Innovation. It features examples from around the world that capture some of Naturex’s key sustainability efforts and impacts. Recently added to the company’s portfolio, Quillaia is a perfect example of the company’s 360° approach toward people and environment. Native to Chile, Quillaia saponaria, the soap bark tree, is a hardy perennial evergreen. The extract obtained from the wood is used in the food, cosmetics and health industries as a natural foaming agent and as an emulsifier. Harvested in accordance with Chilean Forest Authorities requirements, locally extracted and responsibly processed, the Quillaia extraction process shows the extent of Naturex’s commitment to sustainability and enhances its ambition to help its customers switch from synthetic to natural. Find out more about the Quillaia extraction process and Naturex’s sustainability policy in the video below: The Pathfinder Report can be downloaded here : http://www.naturex.com/How-we-do- it/SUSTAINABILITY#Discover-our-latest-Pathfinder-report-2015 About Naturex: Naturex is the global leader in specialty plant-based natural ingredients.
    [Show full text]
  • Naturex Specializes in a Large Number of Natural Ingredients
    Registration Document 2009 WorldReginfo - aad34789-8029-4cd5-bab6-006b20237c89 WorldReginfo - aad34789-8029-4cd5-bab6-006b20237c89 President's message Ladies and Gentlemen, Dear Shareholder, 2009 will go down in the history of Naturex group as a year of success: • commercial success first of all since, despite the economic decline, our group has achieved organic growth of over 5.5% in constant currencies by developing each of our different business lines; • financial success next, with the group's operating margin improving once again (12.8% of revenue), a record net profit of € 5.2 million and even stronger financials thanks notably to the € 17.3 million capital increase we carried out in February 2009 despite the financial crisis. On that note, my thanks obviously go out to all of our shareholders that took part in the operation for the confidence and trust that they have placed in the future of our group; • strategic success finally and above all as, with the acquisition of the Ingredients Division of Spanish group, Natraceutical, we have established ourselves as the global leader in specialty plant- based natural ingredients. Today, Naturex ranks as a key player on the fast-growing market of natural products with: • 3 product ranges that span the food, health and cosmetics sectors; • € 186 million in pro-forma revenues in 2009; • a 900-strong workforce around the world; • 11 production facilities; • 15 sales offices on all 5 continents. Backed by this new dimension, Naturex has entered another extremely promising phase in its development. Our priority for 2010 will be the successful integration of the Ingredients Division of Natraceutical group purchased at the end of 2009 - something we are very confident about given Naturex's proven ability to integrate its acquisitions.
    [Show full text]
  • NATUREX Gains a Foothold in India Acquisition of VALENTINE, Indian Producer of Fruit and Vegetable Powders and Natural Colours Press Release
    Company acquisition NATUREX gains a foothold in India Acquisition of VALENTINE, Indian producer of fruit and vegetable powders and natural colours Press release Avignon, March 21st 2012 – NATUREX, world leader in specialty plant-based ingredients, announces the acquisition of VALENTINE, an Indian company specialised in the production of fruit and vegetable powders and natural colours for the food industry. This third acquisition, since the capital increase in October 2011, once again fits with NATUREX's strategy of acceleration of its development by targeting dynamic markets with high potential for growth and that provide synergies for the Group. A dynamic player in an Indian market with high growth potential VALENTINE has two production sites located near Mumbai and is among the main Indian players in the fruit and vegetable powders and natural colours market. Thanks to its expertise in formulation and spray drying processes, VALENTINE has been able to win over the years the loyalty of a high-quality clientele within the Indian food industry, comprised of local companies as well as subsidiaries of multinationals. VALENTINE, which has had a growth rate of 30% per year over the last two years, employs about fifty people. This acquisition constitutes a strategic point of entry in a country with 1.2 billion inhabitants and for which the GDP per inhabitant of 3,700 USD helps it rank as the number 4 economy in the world1. In addition, the substantial development of a young and urban middle class for which the consumption codes are largely influenced by western culture, represents genuine opportunities for growth in the Indian food industry.
    [Show full text]
  • Candela Perú (2017)
    UNIVERSIDAD TECNOLÓGICA DEL PERÚ FACULTAD DE ADMINISTRACIÓN Y NEGOCIOS CARRERA DE ADMINISTRACIÓN DE NEGOCIOS INTERNACIONALES PROGRAMA ESPECIAL DE TITULACIÓN “Exportación de Aceite de Maracuyá orgánico hacia el mercado de Paris - Francia” Para obtener el título Profesional de: Licenciado en Administración de Negocios Internacionales; Bachiller Frias Ramirez, Fabricio Brian Licenciada en Administración de Negocios Internacionales; Bachiller Varillas Bellido, Leidy Estrella Lima – Perú 2018 INDICE DE CONTENIDO INDICE DE CONTENIDO ..................................................................................................... 2 ÍNDICE DE TABLAS ............................................................................................................. 5 ÍNDICE TABLA DE GRÁFICOS ............................................................................................. 9 ÍNDICE TABLA DE FIGURAS ............................................................................................... 9 ANTECEDENTES ............................................................................................................... 12 RESUMEN ....................................................................................................................... 13 RECURSOS PERSONALES Y METAS .................................................................................. 15 CAPÍTULO I EL PRODUCTO .............................................................................................. 16 1.1 Producto...................................................................................................
    [Show full text]
  • Naturex Enriches Its Offering for the Personal Care Industry
    Pacran® receives approved urinary tract health claims from Canadian authorities South Hackensack, October 27th, 2014 - Naturex’s Pacran®, the natural solution for urinary comfort, has been awarded a Natural Product Number from Health Canada. This is the 2nd time that Pacran® successfully completes a governmental procedure of claim authorization. Pacran® scientific validity as a natural ingredient for urinary health management has recently been recognized by the Canadian Health Authorities. With a minimum daily dose of 500 mg, all finished products using Pacran® can make claims such as “helps prevent recurrent urinary tract infections in women” or “used in Herbal Medicine to help prevent (recurrent) urinary tract infections”. Urinary tract infections (UTI) are a universal problem with nearly half of all women suffering from a UTI at some point in their lives and nearly one in three of those women suffering from recurrent UTI within one year. Formulators are challenged with selecting the right ingredient for their urinary tract health products. The new approval reinforces the renown of Pacran® which already has a Health Functional Food Ingredient Certificate in South Korea, allowing all finished products to claim: “can help urinary tract health by inhibiting adherence of harmful bacteria to urinary tract”. “The recent health claim approvals from Canada and South Korea independently validate the strength of the scientific substantiation that we’ve built in support of Pacran®,” said Dan Souza Sr. Director of Sales and Marketing for Naturex-DBS. “Naturex-DBS will continue to invest in developing gold standard clinical evidence with an eye towards achieving additional Pacran® urinary tract health claims around the world.” Pacran® is a 100% all natural full spectrum cranberry ingredient supported by eight efficacy and safety studies.
    [Show full text]
  • Naturex and Mazza Innovation Sign Processing Agreement
    News release NATUREX AND MAZZA INNOVATION SIGN PROCESSING AGREEMENT Naturex expands its use and commitment to green extraction technologies for clean-label products AVIGNON, France and DELTA, British Columbia, Canada — March 8, 2016 — The NATUREX GROUP, the world leader in specialty plant-based natural ingredients, and MAZZA INNOVATION LTD., a world-leading provider of premium-quality, solvent-free botanical extracts, have signed an exclusive Agreement for use of Mazza’s patented pressurized low-polarity water (PLPW) technology to extract phytochemicals from cranberries. As part of the Agreement, Mazza shall use its PhytoClean™ extraction process to produce cranberry extracts exclusively for Naturex in its newly opened facility in British Columbia. The PhytoClean™ Method is an earth-friendly way to extract bioactives from plants using only water and produces clean, non- solvent-derived ingredients. The green technology efficiently extracts bioactive compounds, including polyphenols, alkaloids, glycosides and specialty carbohydrates that can be used as ingredients for functional foods, dietary supplements and beauty products. Olivier Rigaud, CEO of NATUREX, commented: “This open innovation partnership with Mazza Ltd is a great opportunity to bring the global market new natural clean-label ingredients using environmental friendly technologies. As one of the foremost companies in the field of natural healthcare solutions, Naturex is fully aware of the importance of supporting innovative ideas and processes from various sources. The collaboration with Mazza Ltd is one of the first steps in our recently-launched global Open Innovation program.” Benjamin Lightburn, president of Mazza Innovation, commented: “Naturex is a leader in the global nutraceuticals marketplace and we are pleased to sign this exclusive, long-term supply agreement for Mazza’s PhytoClean Cranberry extract just as our new production facility comes online.
    [Show full text]
  • Press Release Nat Fruits&Greens
    PRESS RELEASE NAT fruits&greens: healthier supplementing and total transparency Naturex unveils NAT fruits&greens range and responds to two major nutraceutical category concerns: 1/ Boosting fruit & vegetable consumption Since childhood, we’ve been told that five to ten daily servings of fruits and veggies are essential for health. Despite this common knowledge, 75 to 80%* of American consumers are still struggling to eat these recommended amounts. Powdered fruits & vegetables incorporated into supplements enable industries to improve the nutritional value of their formulas and increase fruit & vegetable intake. Naturex’s new fruits&greens range answers nutraceutical category demand for fruit & vegetable powders and helps provide equivalent servings of these key foods. 2/ Complying with market demand for transparency Designed for manufacturers who are looking to enhance their formulas with natural plant-based content, NAT fruits& greens also complies with current nutraceutical market requirements for safety and traceability. In response to the public’s demand for transparency, Naturex has implemented a rigorous traceability system, with systematic identification of raw materials and a complete identification sheet for each botanical extract. The NAT fruits&greens range includes two collections: TasteRich that provides 100% natural powders to improve color, taste and flavor in formulas and NutriRich, which guarantees standardized content in nutrients and phyto-nutrients, such as vitamins, minerals, fibers, and polyphenols. Each botanical extract is carefully selected for its high nutrient content. Click on the infographic below to learn more about NATfruits&greens In line with Naturex’s Bright 2020 Strategic Plan, this new product line illustrates the Group’s ambition to be the world leader in the specialty fruit & vegetable category and to help its customers switch from synthetic to natural.
    [Show full text]
  • 2019 Integrated Annual Report: Performance Highlights
    Creating and sharing value – Story 1 Driving digital innovation in Fragrances Creating and sharing value – Story 2 Raising our ambitions to become climate positive Creating and sharing value – Story 3 The future of protein 2019 Integrated Annual2019 Report Integrated 2019 Annual Report Performance highlights Performance highlights Creating responsible growth EBITDA Net income Group sales Growth LFL ³ in CHF million in CHF million CHF million + % 2019 6,203 5.8 5.86,203 1,275EBITDA as a 702Proposed dividend 2018 5.6 5,527 % of sales per share in CHF 2017 4.9 5,051 2016 4.2 4,663 % 2015 2.7 4,396 Absolute20.6 scope 1 + 2 62.00Renewable Group sales in millions of Swiss francs % growth LFL GHG emissions ¹ electricity – % % Free cash flow As a % of sales Employees17 75Lost time injury rate ² CHF million % % 2019 787 12.7 12.7787 14,969 – 79 2018 12.7 703 1. Since 2015, as at 30 September 2019. 594 2. Since 2009. 2017 11.8 3. Like-for-like excludes the impact of currency, acquisitions and disposals. 2016 12.8 597 2015 16.4 720 Free cash flow in millions of Swiss francs % of sales Climate Change Givaudan has received CDP's highest 'A score' for its leadership in climate action. We were recognised for our actions to cut emissions, mitigate climate risks and develop the low- carbon economy. Supplier engagement EcoVadis Gold SUPPLIER We earned a place on the CDP Supplier Givaudan has ranked in the top 1% of the ENGAGEMENT LEADER Engagement leader board in recognition 55,000 companies participating in the 2019 EcoVadis 2019 of our actions and strategies to reduce Corporate Social Responsibility (CSR) assessment emissions and lower climate-related risk with a score of 72/100.
    [Show full text]