IFF: Reports Second Quarter 2024 Results

New York City / NY. (iff) IFF International Flavors + Fragrances Inc. reported financial results for the second quarter ended June 30, 2024. «We are pleased with our performance through the first half of the year, as it represents a marked improvement over our prior year lows,» said CEO Erik Fyrwald. «Our efforts to drive volume growth across all our business units, combined with enhanced productivity initiatives, have resulted in solid profit improvements compared to the same period last year. Given our performance to date and our cautiously optimistic outlook for the remainder of the year, we are raising both our sales and adjusted operating Ebitda guidance for the full year.

«We are energized by the progress we are making in the development of our customer focused and innovation led strategy. The entire IFF team is rallying behind this strategic refresh, and while we still have more work to do, we have identified significant growth opportunities. We have started to increase our investments in R+D, commercial efforts, and capacity in flavors, scent, and health and biosciences as well as increasing investments to strengthen our digital systems. At the same time, we are rapidly addressing our functional ingredients business by implementing additional productivity initiatives to improve our margin while we target attractive customer segments. We believe these actions will deliver stronger value creation for our customers, employees, and shareholders over time.»

For additional information please read the Company’s PDF file below (238 KB):

20240808-IFF-Q22024.