Croda’s Fragrance and Flavours business reports strong annual financial results, delivering 18% growth
The F&F group achieved annual sales of €338 million, reflecting an impressive 18% growth compared to the previous year. This success is attributed to the excellent execution of its strategy and seamless coordination within the rest of the Consumer Care business portfolio. The company’s growth trajectory over the last years is a testament to its customer-centric approach and the robust synergies fostered across Croda‘s broader business.
José Balibrea, Vice President of F&F at Croda and Managing Director of Iberchem, remarked, “Our growth in 2024 has been propelled by a targeted approach to local and regional customers in high-growth regions such as Asia, most particularly China, followed by Southeast Asia. The Middle East were also at the core of our expansion this year, where we continued serving our loyal existing customer base and increased our market shares in the fine fragrance segment. We continue to enhance our presence in both regions by strengthening our teams and expanding our facilities, such as our new R&D center in Dubai and the construction of our new manufacturing site in China. Furthermore, the remarkable sales surge in Colombia and the increasing activity in Brazil and Mexico highlight the strength of our robust business plan in LATAM. These results exceeded our initial expectations for the year, confirming that our growth strategy is on the right track.”
Sandra Breene, President of Consumer Care at Croda, expressed her satisfaction with the F&F business’ performance, stating, “We are very pleased with the results of our Fragrances and Flavours business as part of the Consumer Care division, which has exceeded expectations again this year. This performance clearly reflects Croda’s culture based on innovation and customer-centricity. The F&F business has played a crucial role in advancing Croda’s overall objectives and in delivering the Group’s strategy of sustainable growth.”
This year has been particularly significant for Iberchem, which has celebrated a series of achievements and milestones. Iberchem’s Fragrance Creation Director and Master Perfumer, Luz Vaquero, was one of six distinguished professionals inducted into the prestigious Academia del Perfume. In addition, Iberchem and Parfex are commemorating their 40th anniversary, a testament to their enduring presence and success in the fragrance industry. In addition to the expanded and relocated R&D facilities in the Middle East, the group has also improved its global infrastructure by launching a new R&D facility for Parfex and a new creative hub in Barcelona.
