NY-IFF
IFF (NYSE: IFF) today introduced a new “Learning Labs” video series, featuring in-depth discussions with the leadership of the company’s segments and R&D function. Each video provides a comprehensive overview of IFF’s robust portfolio and enhanced capabilities following its recently completed merger with DuPont’s Nutrition and Biosciences (“N&B”) business. The complete “Learning Labs” series can be found here: ir.iff.com/events-presentations . In addition, IFF has also provided segment-level financial detail based on 2020 pro forma results.
“As a global industry leader of high-value consumer ingredients, we are pleased to provide a closer look into our capabilities, operational model and future growth potential,” said Andreas Fibig, IFF Chairman and CEO. “Stakeholder communication remains essential to IFF’s continued growth, and since combining with N&B, we have continued to explore new ways to meaningfully connect with our investors. The insights shared through our ‘Learning Labs’ series and detail provided in our 2020 pro forma segment financials is a testament to our commitment to continued transparency and greater comparability to peers.”
IFF 2020 Pro Forma Segment-Level Financial Results
To accompany the “Learning Labs” video series, IFF has provided additional detail on the financial performance, including sales and adjusted EBITDA metrics, for each of the company’s four segments on a 2020 pro forma basis.
Welcome to IFF
At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com , Twitter , Facebook , Instagram , and LinkedIn .
International Flavors & Fragrances Inc. |
|||||||||||
2020 Pro Forma Combined Reporting Segments (1)(2) |
|||||||||||
(Dollars in millions) |
|||||||||||
|
Q1
|
|
Q2
|
|
Q3
|
|
Q4
|
|
Pro Forma
|
|
Pro Forma
|
|
|
|
|
|
|
|
|
|
|
|
|
Nourish Pro Forma Sales |
1,276 |
|
1,450 |
|
1,418 |
|
1,488 |
|
5,632 |
|
5,887 |
Nourish Pro Forma Adjusted Operating EBITDA |
255 |
|
303 |
|
275 |
|
257 |
|
1,090 |
|
1,153 |
as % of Pro Forma Sales |
20% |
|
21% |
|
19% |
|
17% |
|
19% |
|
20% |
|
|
|
|
|
|
|
|
|
|
|
|
Scent Pro Forma Sales |
541 |
|
475 |
|
525 |
|
524 |
|
2,064 |
|
2,064 |
Scent Pro Forma Adjusted Operating EBITDA |
118 |
|
87 |
|
118 |
|
93 |
|
416 |
|
416 |
as % of Pro Forma Sales |
22% |
|
18% |
|
22% |
|
18% |
|
20% |
|
20% |
|
|
|
|
|
|
|
|
|
|
|
|
Health & Biosciences Pro Forma Sales |
427 |
|
588 |
|
579 |
|
572 |
|
2,166 |
|
2,353 |
Health & Biosciences Pro Forma Adjusted Operating EBITDA |
131 |
|
181 |
|
172 |
|
149 |
|
634 |
|
680 |
as % of Pro Forma Sales |
31% |
|
31% |
|
30% |
|
26% |
|
29% |
|
29% |
|
|
|
|
|
|
|
|
|
|
|
|
Pharma Solutions Pro Forma Sales |
152 |
|
224 |
|
215 |
|
188 |
|
779 |
|
839 |
Pharma Solutions Pro Forma Adjusted Operating EBITDA |
42 |
|
62 |
|
61 |
|
38 |
|
203 |
|
216 |
as % of Pro Forma Sales |
28% |
|
28% |
|
28% |
|
20% |
|
26% |
|
26% |
|
|
% Change in Sales - 2020 vs. 2019 (5) |
||||||||||
|
|
Q1 (3) |
|
Q2 |
|
Q3 |
|
Q4 |
||||
|
|
Reported |
Currency
|
|
Reported |
Currency
|
|
Reported |
Currency
|
|
Reported |
Currency
|
Nourish |
|
3% |
5% |
|
(4)% |
(1)% |
|
(5)% |
(3)% |
|
—% |
1% |
Scent |
|
4% |
7% |
|
(6)% |
—% |
|
4% |
9% |
|
4% |
6% |
Health & Biosciences |
|
8% |
11% |
|
(4)% |
(2)% |
|
(1)% |
—% |
|
1% |
—% |
Pharma Solutions |
|
9% |
11% |
|
6% |
7% |
|
2% |
1% |
|
(2)% |
(4)% |
Total |
|
4% |
7% |
|
(4)% |
—% |
|
(2)% |
—% |
|
1% |
1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pro Forma FY 2020
|
|
Pro Forma FY 2020 (4) |
|
|
|
|
|
|
||
|
|
Reported |
Currency
|
|
Reported |
Currency
|
|
|
|
|
|
|
Nourish |
|
(2)% |
—% |
|
(2)% |
—% |
|
|
|
|
|
|
Scent |
|
2% |
5% |
|
2% |
5% |
|
|
|
|
|
|
Health & Biosciences |
|
—% |
1% |
|
—% |
1% |
|
|
|
|
|
|
Pharma Solutions |
|
4% |
3% |
|
1% |
1% |
|
|
|
|
|
|
Total |
|
—% |
2% |
|
(1)% |
1% |
|
|
|
|
|
|
_______________________
Note: Adjusted Operating EBITDA for each segment is defined as Income (Loss) Before Taxes before depreciation and amortization expense, interest expense, restructuring and other charges, net and certain non-recurring items. Additionally, all corporate expenses have been allocated to all of the reportable segments.
- The pro forma historical segment information has been presented for informational purposes only and is not necessarily indicative of what IFF's results of operations actually would have been, had the N&B transaction occurred on the dates indicated below. In addition, the pro forma historical segment information does not purport to project the future operating results of the Company.
- Dollar amounts may not foot due to rounding.
- The first quarter and Pro Forma FY 2020 (excl. N&B Jan.) show the combination of the historical results of IFF and N&B as if the N&B transaction had been consummated on February 1, 2020. Therefore, the first quarter and Pro Forma FY 2020 (excl. N&B Jan.) do not include the N&B business for the month of January 2020, which would allow comparability against the 2021 calendar year since the merger occurred on February 1, 2021. Total N&B Sales and Adjusted Operating EBITDA included in reportable segments for the month of January 2020 amounted to $502 million and $124 million, respectively.
- Pro Forma FY 2020 shows the combination of the historical results of IFF and N&B as if the N&B Transaction had been consummated on January 1, 2020. Therefore, Pro Forma FY 2020 includes a full twelve months of 2020 N&B and IFF results.
- Effective 2021, we calculate currency neutral growth by translating current year invoiced sale amounts at the average exchange rates used for the corresponding prior year period. Previously we calculated currency neutral numbers by comparing current year results to the prior year results restated at exchange rates in effect for the current year based on the currency of the underlying transaction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210415006035/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Zycus Named a Leader in the 2026 Gartner® Magic Quadrant™ for Source-to-Pay Suites23.1.2026 20:00:00 CET | Press release
This acknowledgment reflects Zycus’ momentum in Agentic AI, comprehensive S2P suite, brand trust and customer outcomes. Zycus, a global provider in Source-to-Pay (S2P) technology, today announced that it has been recognized as a Leaderin the 2026 Gartner® Magic Quadrant™ for Source-to-Pay Suites. We believe the report points to Zycus’ continued investment in Merlin Intake to streamline user experience and Agentic AI to support workflows such as tail-spend management via autonomous negotiation. This aligns with Zycus’ “Intake to Outcomes” (I2O) belief: simplify how work enters procurement, orchestrate execution with Agentic AI, and deliver outcomes with the right governance and control. “Being recognized as a Leader in the Gartner Magic Quadrant for Source-to-Pay Suites reflects our long-term commitment to innovation, customer outcomes, and responsible AI,” said Aatish Dedhia, Founder & CEO of Zycus. “Merlin Agentic AI is designed to move beyond task automation towards end-to-end outcom
Bureau Veritas to Acquire a Leading Sustainability Specialist for Consumer Products in Italy23.1.2026 18:13:00 CET | Press release
Bureau Veritas, a global leader in Testing, Inspection, and Certification services (TIC), announces the acquisition of SPIN360, a leading Italian consulting firm specialized in sustainable innovation and development across primary premium fashion and luxury brands. This acquisition aligns with Bureau Veritas’ LEAP | 28 strategy to create new strongholds in the Consumer Product Services (CPS) industry, and to accelerate its growth in key markets such as Italy. The transaction will deliver on value creation opportunities, by combining SPIN360's proprietary Life Cycle Assessment (LCA) tools and data-driven advisory services with Bureau Veritas' certification and supply chain auditing expertise. It will also help position Bureau Veritas as a global center of excellence for premium fashion and luxury. Created in 2009 and based in Milan, SPIN360 provides technical advisory services covering LCA, life cycle costing, environmental product declarations, carbon footprint, supply chain engagement
HCLTech to Acquire Singapore-based Finergic to Boost Digital Transformation Offerings for Wealth Management Industry23.1.2026 17:55:00 CET | Press release
HCLTech, a leading global technology company, today announced that it has signed a definitive agreement to acquire Finergic Solutions Pte Ltd, a boutique wealth consulting firm headquartered in Singapore. The transaction is expected to close by April 30, 2026. Founded in 2019, Finergic focuses on core banking and wealth management transformation and has a strong, well-established global presence. The addition of Finergic’s niche capabilities, combined with the scale of HCLTech, is expected to unlock stronger synergies and enhance service delivery across the financial services and wealth management industry. HCLTech brings 25+ years of global experience in serving leading financial institutions. By integrating Finergic’s specialized transformation strategy, consulting and wealth-architecture capabilities, HCLTech will accelerate the delivery of next-generation, platform-enabled wealth management solutions anchored by advanced AI-native workflows. These capabilities will complement HCLTe
Saudi Arabia to Host World Economic Forum Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth on 22-23 April 202623.1.2026 16:29:00 CET | Press release
Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth in Jeddah on 22-23 April 2026, it was announced on the closing day of the 56th Annual Meeting of the Forum in Davos, Switzerland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260123725881/en/ HE Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning, announces that the Kingdom will host the World Economic Forum Global Collaboration and Growth Meeting in Jeddah in April 2026 (Photo: AETOSWire) His Excellency Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning today confirmed the details for the regular high-level WEF meeting, which was announced at the 2025 WEF Annual Meeting. Calling for pragmatism and collaboration against a backdrop of geopolitical fragmentation, HE Alibrahim said “stability can’t be quickly built, and it can’t be bought”. “Stability need
Philip Morris International Urges FDA Advisory Committee to Recommend Authorizing ZYN as a Modified Risk Tobacco Product23.1.2026 15:15:00 CET | Press release
In January 2025, ZYN became the first nicotine pouch product authorized for marketing by the FDA Experts from Philip Morris International (PMI) (NYSE: PM) yesterday presented scientific evidence to the U.S. Food and Drug Administration’s (FDA) Tobacco Products Scientific Advisory Committee (TPSAC) as part of the FDA’s process for a Modified Risk Tobacco Product (MRTP) designation for their ZYN nicotine pouch products. This designation would allow PMI’s U.S. family of businesses to communicate to U.S. legal-aged, 21+ adult cigarette smokers that switching completely to ZYN reduces their risk of many smoking-related diseases and we look forward to a decision by FDA. "The FDA’s Center for Tobacco Product’s (CTP) mission is to make smoking-related disease and death a part of America’s past,” said Keagan Lenihan, Chief External Affairs Officer for PMI U.S. “Smoke-free products, like ZYN, play a critical role in helping CTP achieve this mission and provide adults who smoke with important inf
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom
