The company said its Q3 2024 sales rose to $2.925 billion, up 4% on a reported basis and 7% on a currency neutral basis, from $2.820 billion a year earlier. It said exchange rate variations had an unfavorable impact of 3% on sales and that the sale of the Cosmetic Ingredients business had an impact of about $23 million.

1. 01

   The company said its Q3 2024 sales rose to $2.925 billion, up 4% on a reported basis and 7% on a currency neutral basis, from $2.820 billion a year earlier. It said exchange rate variations had an unfavorable impact of 3% on sales and that the sale of the Cosmetic Ingredients business had an impact of about $23 million.

2. 02

   Gross profit for Q3 2024 rose to $1.052 billion (36.0% of sales) from $924 million (32.8%) a year earlier, the company said. It cited higher volumes and favorable net pricing as drivers of the increase, which were partly offset by unfavorable exchange rates and the impact of the sale of the Cosmetic Ingredients business.

3. 03

   The company said it entered into an agreement on March 19, 2024 to sell the Pharma Solutions business disposal group. It said it classified the disposal group and a portion of the Savory Solutions business in Turkey as held for sale and recorded a loss of $314 million on those assets in the first 9 months of 2024.

4. 04

   The company said that as of September 30, 2024, its ratio of net debt to credit adjusted EBITDA was 3.89 to 1.0, and that it was in compliance with all financial and other covenants. As of the same date, it had no borrowings outstanding under the $2.000 billion Revolving Credit Facility, and $1.347 billion was available under the facility.

Key figures

Quarter ended September 30, 2024

Revenue

$2.9B

Operating income

$249M

Net income

$59M

EPS

$0.23

Gross profit

$1.1B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.