Fragrance & Beauty – Sales in millions of Swiss francs 2021 2020 2019 2018 2017 , , , , , Business performance – Fragrance & Beauty Sales Fragrance & Beauty sales were CHF 3,091 million, an increase of 6.6% on a like-for-like basis and 5.8% in Swiss francs. This sales growth was mainly driven by the rebound of the Fine Fragrances and Active Beauty businesses which were particularly impacted by the COVID-19 pandemic in 2020. Total sales for Fragrance Compounds (Fine Fragrances and Consumer Products combined) increased by 5.5% on a like-for- like basis. In Swiss francs, sales of compounds increased to CHF 2,640 million from CHF 2,529 million in 2020. Fine Fragrances sales increased by 22.5% on a like-for-like basis against a comparable sales decline of 6.0% in the prior year. After the significant negative impact of the COVID-19 pandemic in 2020, sales rebounded across all regions and customer groups, driven by the high performance of existing business and by a significant level of new wins. Consumer Products sales increased by 1.5% on a like-for-like basis against a strong comparable growth of 9.1% in 2020, which was driven by an increased demand for household, health and personal care products related to the COVID-19 pandemic. The sales growth in 2021 was achieved mainly in the high growth markets and across all customer groups. Sales of Fragrance Ingredients and Active Beauty increased by 14.2% on a like-for-like basis, with strong double-digit growth in Active Beauty and a strong single-digit growth in Fragrance Ingredients. The EBITDA of Fragrance & Beauty increased to CHF 696 million in 2021 compared to CHF 677 million in 2020, an increase of 2.7%. The increase was mainly driven by higher sales and the contribution of the recent acquisitions in terms of growth and synergies, offset by increased pressure on supply chain costs across the business. The EBITDA margin was 22.5% in 2021 compared to 23.2% in 2020. On a comparable basis the EBITDA margin of Fragrance & Beauty was 22.6% in 2021 compared to 23.6% in 2020. The operating income increased to CHF 547 million in 2021 versus CHF 536 million for the same period in 2020. The operating margin was 17.7% in 2021 compared to 18.4% in 2020. 67 % Consumer Products 1 9 % Fine Fragrances 1 4 % Fragrance Ingredients and Active Beauty TOTAL OF GROUP SALES 4 6 % 6 . 6 % Sales growth (like-for-like) Givaudan ( 2021 Integrated Annual Report 46 Financial value creation Bu siness performance – Fragrance & Beauty