10 CEO interview and markets of the business performed well. It has also been A We started the implementation of our 2025 strategy encouraging to see the product segments most affected by the ‘Committed to Growth, with Purpose’. What have been some pandemic – namely Fine Fragrances, and to a lesser extent of the highlights? Active Beauty as well as foodservice in Taste & Wellbeing GA Our 2025 strategy is our five-year roadmap for how we will – experience a strong recovery. And overall, again we saw deliver sustainable value creation for all our stakeholders. Across the resilience of the business, which has been built over many our growth drivers and enablers, there were a number of years through having ‘natural hedges’, by being in every single highlights of how we are effectively implementing our strategy. market in the world, in taste and wellbeing and in fragrance and beauty, with the widest diversity of product categories, We continued to make investments in acquisitions that further and servicing a wide variety of customers. broaden our offering to our customers and strengthen our global footprint. This includes a CHF 75 million investment in A Beyond financials, we’ve included purpose-related a new extension to our Pedro Escobedo Fragrance & Beauty targets for 2025. What progress did we make here? production facility in Mexico to support growth in Latin America GA When we launched our purpose, ‘Creating for happier, and across customer segments. healthier lives with love for nature’ in November 2019, we also set out a number of ambitious targets to underpin our Taste & Wellbeing introduced its new Product Portfolio Architecture commitment to have a positive impact on Creations, Nature, (PPA), realigning its portfolio to better reflect how, through the People and Communities. This is now fully embedded in our expanded product offering and capabilities, we support customers 2025 strategy, showing how we want to grow with purpose to deliver future-facing food experiences that consumers value. and how we express our commitment to ESG. To accelerate alternative protein development, a new Protein Hub at our Zurich Innovation Centre was opened, bringing together Our ambition is that through our creations more people will customers, start-ups, academics and chefs to co-create. enjoy happier, healthier lives, and that through these creations, we will double our business by 2030. We demonstrated strong As part of our commitment to nature-conscious fragrances and growth through 2021 by delivering products that delight showing our love for nature in everything we do, Fragrance & consumers and contribute to their overall wellbeing. Beauty announced the launch of its Naturality Index™. This is a one-of-a-kind assessment tool that allows perfumers to Other highlights for 2021 included a strong focus on our climate factor-in the environmental impact of their ingredient selection positivity journey, and we have recently been recognised by bringing a new differentiating dimension to the creative process. CDP with a double A rating for leadership in climate action and Also supporting our customers to meet their sustainability water stewardship. We launched Sourcing4Good, a progressive ambitions, we introduced PlanetCaps™, an industry-leading programme which has been co-created with customers, first-to-market fragrance encapsulation innovation that specialists and internal stakeholders, to help accelerate our enables long-lasting fragrance experience in a biodegradable purpose goal to source all materials and services in a way that and bio-sourced delivery system for fabric softeners. protects people and the environment by 2030. Supporting our growth enabler – simplicity and innovation Throughout the pandemic, we’ve continued to focus on the in everything we do – our Givaudan Business Solutions health and wellbeing of our colleagues. This is part of our organisation continued helping us to be more agile and reduce ambition to improve how we care for all our people, complexity. We leveraged this platform through the challenges providing access to mental and physical health initiatives, of the pandemic to minimise the impact on our ability to tools and training. service our customers. We also continued to make progress on our long-term journey A There were further acquisitions in 2021. How do they to become a certified B Corporation, which will measure contribute to the strategic focus areas? Givaudan’s entire social and environmental performance and GA TTo support our growth ambition, our 2025 strategy is provide independent verification that we live up to our purpose. built around three key drivers. Firstly, expand the portfolio, going beyond the current portfolio of flavours and fragrances, naturals and delivery systems into nutrition, food ingredients and beauty. Secondly, focussed market strategies which is about maximising mature market opportunities while at the same time extending our high growth market leadership, particularly in China. Finally, extending customer reach particularly with the local and regional customer segment. Givaudan – 2021 In a Nutshell