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Beauty Industry, Mergers and Acquisitions

IFF Reports Double-Digit Sales Growth for Second Consecutive Quarter

Reported net sales for the third quarter were $3.07 billion.

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By: Charlie Sternberg

Associate Editor

International Flavors & Fragrances Inc. (IFF) has reported its financial results for the third quarter ended September 30, 2021.
 
Reported net sales for the third quarter were $3.07 billion, an increase of 142% compared to the prior year period, driven primarily by the incremental sales related to the merger with Nutrition & Biosciences (N&B).
 

Segments

On a reported basis, third quarter sales for the scent segment were $580 million. Results were led by strong double-digit growth in Fine Fragrances, Cosmetic Actives and Fragrance Ingredients as well as modest growth in Consumer Fragrances.
 
Third quarter sales were $1.66 billion for the Nourish segment; $618 million for the Health & Biosciences segment; and $211 million for the Pharma Solutions segment.
 
“We are pleased by the strong demand trends we’ve seen in our business and proud that we achieved double-digit sales growth for a second consecutive quarter,” said IFF chairman and CEO Andreas Fibig. “Across a large portion of our portfolio, we are growing at an accelerated rate – all as we continue to successfully integrate and deliver on our synergy commitments. These results are indicative of our best-in-class product portfolio, industry-leading innovation and our position as an essential partner to our customers.”
 
While the global supply chain environment remains volatile, the company is confident in its long-term value creation opportunity as it executes its strategy and drives its business forward.

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