GENEVA—Firmenich posted sales of CHF 2.78 billion, an increase of 5.8 percent in local currencies, but a decline of 3.9 percent in Swiss Francs, its reporting currency, for its 2011 fiscal year, ended June 30, 2011. The company’s perfumery business division posted sales increases across all geographic regions and all business segments.
Geographically, emerging markets posted the strongest growth, led by Asia Pacific and China, and a robust sales progression in Western Europe, followed by North America, Latin America and the Middle East.
Firmenich continued to strengthen and deepen its global presence during the year, establishing its affiliate in China as a unique zone from Asia Pacific. The company benefitted from one full year of activity at its new perfume ingredients production site in India. Also, the company achieved an on-time and on-budget completion of its SAP Enterprise Resource Planning program, as final key implementations took place in Brazil, Argentina, Colombia and India. Finally, an important capital investment milestone was reached as the company officially inaugurated its Naturals Innovation Center in the South of France.
The Firmenich Group continued to invest approximately 10 percent of its annual turnover in innovation, including new ingredients and the continuous improvement of production processes.
Firmenich launched its sixth annual independently validated Sustainability Report, reporting for the first time under the Global Reporting Initiative Guidelines. The company gained 12 new third-party certifications in safety, quality and environmental management. This year, the company completed solar installations at four of its U.S. sites, including a 435.6-kw system at its operation in Newark, N.J. During the fiscal year, Firmenich was acknowledged by The Clinton Global Initiative for its sustainable development work in Haiti, and was further recognized when Ethical Corporation named Firmenich the “Best Private Company" in May 2011.