International Flavors & Fragrances Inc. appointed Marc Birenkrant as Controller & Chief Accounting Officer, effective August 10, 2025. Birenkrant has over 30 years of finance and accounting experience, having been with the company since 2008 in various leadership roles. He previously worked at The Wendy’s Company and began his career at Ernst & Young LLP.
Birenkrant replaces Beril Yildiz, who has served in the role since 2022 and will assist in the transition before departing the company on December 31, 2025. Yildiz's departure qualifies for the company’s executive severance policy.
linkAug 07, 2025 16:31:06
International Flavors & Fragrances (IFF) reported its financial results for the second quarter of 2025, revealing net sales of $2.76 billion, a 4% decrease from the previous year. However, on a currency-neutral basis, sales increased by 3%, attributed to growth in various segments, including Taste and Health & Biosciences. The company also reported a reduction in leverage to 2.5x and reaffirmed its full-year financial guidance, anticipating sales between $10.6 billion and $10.9 billion and adjusted operating EBITDA between $2 billion and $2.15 billion.
Additionally, IFF's Board of Directors authorized a new share repurchase program allowing for the buyback of up to $500 million in common stock, which will be funded through available cash and operational cash flows. The company is also divesting its soy crush, concentrates, and lecithin business, which generated approximately $240 million in revenue in 2024, as part of its strategy to enhance its portfolio and maximize shareholder value. The transaction is expected to close by the end of 2025.
linkAug 05, 2025 16:26:13
International Flavors & Fragrances Inc. has appointed Mr. Jesus Mantas and Mr. Paul Fribourg to its board of directors, effective July 29, 2025. Mr. Mantas will join the Audit Committee and Innovation Committee, while Mr. Fribourg will serve on the Transaction Committee. Both individuals bring significant experience from their respective backgrounds, with Mr. Mantas having held leadership roles at IBM Consulting and Mr. Fribourg as Chairman and CEO of Continental Grain Company.
The board has confirmed that both new directors qualify as independent under the New York Stock Exchange rules. There are no arrangements or transactions involving the company that would indicate a material interest from either director. They will participate in the non-employee director compensation arrangements as outlined in the company's 2024 Proxy Statement filed earlier in March 2025.
linkJul 30, 2025 16:11:38
IFF announced its financial results for the first quarter of 2025, reporting net sales of $2.84 billion, a 2% decline compared to the previous year. The company experienced a significant loss before taxes of $994 million, largely due to a goodwill impairment of $1.15 billion in its Food Ingredients segment. However, adjusted operating EBITDA for the quarter was $578 million, reflecting a 9% increase year-over-year when adjusted for currency fluctuations. The company's segments, including Taste and Pharma Solutions, showed growth in currency neutral sales, with Taste segment sales rising by 7% on a comparable basis.
Despite the challenges posed by macroeconomic factors, IFF maintained its full-year guidance, anticipating sales between $10.6 billion and $10.9 billion and adjusted operating EBITDA ranging from $2 billion to $2.15 billion. The company noted that foreign exchange rates would negatively impact its sales and EBITDA growth projections. The early divestiture of its Pharma Solutions business is expected to have a significant effect on its financial outlook, with estimates indicating a 7% adverse impact on sales growth for 2025.
linkMay 06, 2025 16:22:24
International Flavors & Fragrances Inc. has released its unaudited financial information for the year ending December 31, 2024, reporting total net sales of $11.48 billion. The breakdown of sales by segment shows that Taste generated $2.43 billion, Food Ingredients $3.37 billion, Health & Biosciences $2.20 billion, Scent $2.44 billion, and Pharma Solutions $1.05 billion. The company also reported adjusted operating EBITDA of $2.21 billion with a margin of 19.2% for the full year, reflecting variations across segments. Adjusted operating EBITDA margins ranged from 18.9% for Taste to 26.2% for Health & Biosciences for the full year 2024.
In terms of sales growth, the company reported comparable and currency neutral sales changes for various segments. For the first quarter of 2024 compared to the first quarter of 2023, Taste saw a 5% increase in comparable sales, while Food Ingredients experienced a decline of 6%. Health & Biosciences and Scent reported increases of 4% each, while Pharma Solutions saw a decrease of 7%. Overall, the total sales for the first quarter showed a 1% decline on a reported basis but a 4% increase on a comparable basis. This trend of varying growth rates continued throughout the year with notable performance in the Taste and Health & Biosciences segments.
linkMay 06, 2025 16:15:34
International Flavors & Fragrances Inc. (IFF) reported net sales of $11.48 billion for the full year 2024, remaining flat compared to the previous year. However, on a currency-neutral basis, sales increased by 6%, driven by growth in the Scent, Health & Biosciences, and Nourish segments. The company also noted a 16% increase in adjusted operating EBITDA to $2.21 billion, reflecting strong volume growth and productivity gains. Cash flow from operations was reported at $1.07 billion, with free cash flow of $607 million, indicating solid operational performance despite some challenges.
Conversely, the fourth quarter results showed a reported loss before taxes of $115 million and a reported EPS of $(0.18). While net sales rose by 3% year-over-year to $2.77 billion, adjusted operating EBITDA for the quarter was $471 million, marking only a 5% increase compared to the prior year. The Nourish and Health & Biosciences segments experienced mixed results, with the latter showing a decline in adjusted operating EBITDA. Overall, the company faces macroeconomic uncertainties and challenges in specific segments, contributing to a cautious outlook for the upcoming year.
linkFeb 18, 2025 16:27:47
IFF reported a net sales increase of 4% in the third quarter of 2024, reaching $2.93 billion, with significant growth across its business segments, particularly in Health & Biosciences and Scent. Adjusted operating EBITDA improved by 16% compared to the previous year, driven by volume growth and productivity enhancements. The company also reported a 17% increase in adjusted earnings per share, which was positively impacted by strong profit performance and lower interest expenses, despite some adverse foreign exchange effects.
On the downside, the Scent segment experienced flat reported sales, and the overall foreign exchange impact is expected to adversely affect sales growth by approximately 3%. Additionally, while the company is increasing its full-year financial guidance, it has noted potential challenges such as inflationary pressures and geopolitical developments that could impact their operations and profitability. The adjusted operating EBITDA margin was slightly lower than the previous year, indicating some pressure on profitability despite overall sales growth.
linkNov 05, 2024 16:30:50
IFF's second quarter results show a slight decline in sales but a significant increase in adjusted operating profit, reflecting improved productivity and volume growth. The company is raising its full-year guidance, highlighting growth in Scent and Health & Biosciences segments. While Nourish faced challenges, overall progress is noted. Management is optimistic about future growth and is increasing investments in innovation and digital systems.
linkAug 06, 2024 16:30:09
IFF reports solid first quarter results with increased sales in key segments like Scent, Health & Biosciences, and Nourish. The company's adjusted operating EBITDA improved by 20% compared to the prior year. Despite a decrease in reported net sales, the company expects its full-year 2024 results to trend towards the higher end of its guidance ranges. Portfolio optimization strategies, including divesting certain businesses, are enhancing capital structure and debt leverage ratios.
linkMay 06, 2024 16:40:06
IFF has agreed to sell its Pharma Solutions unit to Roquette for up to $2.85 billion, focusing on reducing debt and enhancing shareholder value. The deal aims to support Pharma Solutions' growth in pharmaceutical excipients. Roquette aims to strengthen its drug delivery solutions globally. The transaction includes adjustments to align customers and businesses. The sale is expected to close in the first half of 2025, pending regulatory approvals. IFF's Pharma Solutions unit had around 1100 employees and generated $1 billion in revenue in 2023.
linkMar 19, 2024 07:04:06