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International Flavors & Fragrances Inc. (IFF) is a leading innovator in creating sensorial experiences that drive the world of flavors and fragrances. Headquartered in New York, the company partners with customers globally to develop unique products for the food, beverage, health, personal care, and household goods industries. With a strong commitment to discovery and innovation, IFF continuously explores new possibilities in both fine fragrances and beauty, as well as in beloved foods and beverages.
IFF's core businesses include the Nourish segment, which accounts for nearly half of its revenue. This segment specializes in producing flavors, texturants, and plant-based proteins, providing essential ingredients that enhance the appeal and functionality of food products. Additionally, the Health & Biosciences division, generating roughly one-fourth of the company's revenue, is renowned for its expertise in probiotics and enzymes, making significant contributions to health and wellness solutions.
The company leverages its global team of 7,300 professionals along with leading consumer insights, research and development, and creative expertise to deliver differentiated products. Their proprietary formulations and custom solutions are a testament to their innovative approach and customer-centric focus.
IFF has recently made remarkable advancements in excipient technology, presenting its comprehensive range at global events such as CPhI Japan 2024 and Vitafoods Europe 2024. These showcases highlight the company's commitment to driving pharmaceutical innovation, with notable products like METHOCEL™, ETHOCEL™, and POLYOX™ under its new controlled release platform, 'Timing is Everything'. This new platform emphasizes the importance of controlled release in pharmaceutical therapies, aiming to improve patient compliance and treatment efficacy.
IFF continues to expand its innovative offerings and partnerships, demonstrating a significant impact across various industries. The company's dedication to sustainability and precision in science and creativity positions it as a key player in transforming everyday experiences and contributing to a better world.
For more detailed information about their latest projects and developments, visit their official website at iff.com.
International Flavors & Fragrances reported Q1 2021 results with net sales of $2.47 billion, an 83% increase year-over-year, primarily due to its merger with Nutrition & Biosciences. Adjusted EBITDA rose 88% to $569 million, while reported EPS was $(0.21). The company plans to divest its fruit preparation business, expected to close in Q3 2021, contributing about $70 million in sales.
The updated 2021 sales guidance is approximately $11.25 billion, with an adjusted operating EBITDA margin of ~23%.
IFF (NYSE: IFF) has declared a quarterly cash dividend of $0.77 per share, scheduled for payment on July 6, 2021. Shareholders on record as of June 25, 2021 will receive this dividend. This decision reflects the company's commitment to returning value to its shareholders while continuing to operate as a leader in the food, beverage, scent, health, and biosciences sectors. IFF emphasizes its dedication to sustainability and innovation in creating solutions for enhancing both consumer experiences and environmental responsibility.
IFF (NYSE:IFF) will announce its first quarter 2021 earnings results after market closure on May 10, 2021. A live webcast for investors will be held on May 11, 2021, at 10:00 a.m. ET, where the management team will discuss the results and future outlook. The webcast and a presentation will be accessible on the company’s website at ir.iff.com, with a recorded version available for those unable to attend live.
IFF has launched a new video series, “Learning Labs,” showcasing discussions with its leadership on the company's segments and R&D functions. This initiative follows IFF's merger with DuPont's Nutrition and Biosciences, aiming to increase transparency and stakeholder communication. Additionally, IFF has provided segment-level financial details for 2020 based on pro forma results, highlighting sales and adjusted EBITDA across its four segments. Chairman and CEO Andreas Fibig emphasized the importance of connecting with investors and showcasing IFF's growth potential.
IFF has reached an agreement with Sachem Head Capital Management allowing its Managing Partner, Scott Ferguson, the option to join IFF’s Board of Directors between September 10 and December 31, 2021. This move signals IFF's commitment to enhancing shareholder engagement following discussions on maximizing synergies from its merger with DuPont's N&B business. The Board will expand from 13 to 14 directors should Ferguson join. Both IFF's leadership and Sachem Head view this agreement as beneficial for promoting long-term shareholder value.
IFF (NYSE: IFF) has declared a quarterly cash dividend of $0.77 per share, set to be paid on April 6, 2021, to shareholders recorded by March 26, 2021. This announcement reflects IFF's commitment to returning value to its investors while continuing its role as a leader in food, beverage, health, and biosciences. IFF is dedicated to creating innovative solutions that benefit both people and the planet.
IFF has appointed Dirk Lauven as Master Perfumer, recognizing his 30-year career in the global perfumery industry. Lauven, who joined IFF in 2017 and has a track record of commercial excellence, is the company’s eighth Master Perfumer. Andreas Fibig, IFF’s CEO, praised Lauven's creativity and ability to drive innovation into commercial results. Lauven expressed excitement about mentoring the next generation of perfumers. His tenure at IFF has been marked by significant growth following the acquisition of Fragrance Resources, where he previously served as CEO Europe.
IFF (NYSE: IFF) announced that CEO Andreas Fibig will speak at the Consumer Analyst Group of New York's annual conference, set for February 17, 2021, at 10:40 a.m. ET. This session will be available as a pre-recorded webcast, with a replay accessible afterward at ir.iff.com. IFF specializes in food, beverage, health, biosciences, and sensorial experiences, creating innovative solutions that enhance global consumer products.
International Flavors & Fragrances reported a mixed performance for Q4 and the full year 2020. Q4 sales totaled $1.3 billion, a slight decline from 2019. Operating profit decreased to $101 million and EPS was $0.57, down from $0.70. For FY 2020, sales stood at $5.1 billion, reflecting a 1% decline, with EPS at $3.21, compared to $4.00 in 2019. Despite challenges, leadership expressed optimism for 2021, predicting stronger results driven by an enhanced platform and reduced net debt. Pro-forma sales for 2021 are projected at approximately $11.5 billion.
DuPont announced the final results of its exchange offer related to the merger with International Flavors & Fragrances Inc. (IFF). A total of 368,655,051 shares were tendered, with a proration factor of 52.53%. Holders of 197,410,113 shares, approximately 27% of DuPont's outstanding shares, exchanged their stock for N&B common stock at an exchange ratio of 0.7180, resulting in receiving IFF shares post-merger. The transaction was supported by Goldman Sachs, J.P. Morgan, and Evercore as financial advisors.
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