International Flavors & Fragrances said sales in 2024 of $11.484 billion remained flat compared to $11.479 billion in 2023, and on a currency neutral basis increased 3%. The company said exchange rate variations had an unfavorable impact on net sales of 3%.

1. 01

   International Flavors & Fragrances said sales in 2024 of $11.484 billion remained flat compared to $11.479 billion in 2023, and on a currency neutral basis increased 3%. The company said exchange rate variations had an unfavorable impact on net sales of 3%.

2. 02

   International Flavors & Fragrances said it entered into an agreement to sell the Pharma Solutions business disposal group in March 2024 and its nitrocellulose business in October 2024, with both transactions expected to close in Q2 2025. The company said it determined that the carrying value of the Pharma Solutions disposal group exceeded its fair value and recorded a goodwill impairment charge of $64 million in 2024.

3. 03

   International Flavors & Fragrances said cash flows provided by operating activities in 2024 were $1.070 billion (9.3% of sales), compared to $1.439 billion (12.5% of sales) in 2023. The company cited an increase in working capital, largely related to trade receivables and inventories, as a factor in the decrease.

4. 04

   International Flavors & Fragrances said that as of December 31, 2024, its net debt to credit adjusted EBITDA ratio was 3.84 to 1.0, within the levels provided by its financial covenants, it had no outstanding borrowings under its $2 billion Revolving Credit Facility, and its available capacity was $922 million.

Key figures

Fiscal year ended December 31, 2024

Revenue

$11.5B

Operating income

$766M

Net income

$247M

EPS

$0.95

Gross profit

$4.1B

Operating cash flow

$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.