Financial Data and Key Metrics Changes - In Q2 2022, IFF generated over $3 billion in sales, representing an 11% year-over-year increase on a comparable currency-neutral basis, primarily driven by double-digit growth in Nourish and Pharma solutions [44] - Sales for the first half of 2022 grew by 18% or 12% on a currency-neutral basis to $6.5 billion, with comparable currency-neutral adjusted operating EBITDA growing 8% to $1.4 billion [40] - Adjusted operating EBITDA for Q2 was $700 million, exceeding expectations and representing 7% year-over-year comparable currency-neutral growth [51] Business Line Data and Key Metrics Changes - Nourish was the largest growth driver, achieving year-over-year comparable currency-neutral sales growth of 15% and 18% growth in comparable currency-neutral adjusted operating EBITDA [53] - Health & Biosciences delivered 4% comparable currency-neutral sales growth, while Scent achieved 9% growth, although Scent faced a 17% decrease in comparable currency-neutral adjusted operating EBITDA due to inflationary pressures [48][54] - Pharma Solutions achieved 10% year-over-year comparable currency-neutral sales growth and a 25% increase in comparable currency-neutral adjusted operating EBITDA [55] Market Data and Key Metrics Changes - The company reported that foreign exchange rates adversely impacted sales and EBITDA in Q2, with expectations of foreign exchange pressures impacting sales by approximately 5 percentage points [60][62] - The company noted that China, as its second-largest market, experienced demand weakness due to lockdowns, affecting overall performance [113] Company Strategy and Development Direction - IFF is focused on a strategic refresh to ensure long-term profitable growth, including a more data-driven resource allocation strategy and enhancing productivity programs [11][15] - The company completed the divestiture of its Microbial Control business and is evaluating additional non-core divestitures to improve capital structure [16][42] - IFF aims to strengthen its culture and attract top talent to drive execution of its strategic plan [19][17] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the portfolio's resilience despite macroeconomic challenges, with a focus on productivity and pricing actions to recover inflation costs [115][116] - The company reaffirmed its full-year guidance, projecting sales of $12.6 billion to $13 billion and currency-neutral sales growth of 9% to 12% [60][62] - Management acknowledged the challenges posed by inflation and supply chain disruptions but remains committed to delivering value to stakeholders [70][72] Other Important Information - IFF increased its quarterly dividend by approximately 3%, marking the 13th consecutive year of increased payouts to shareholders [41][59] - The company is targeting a preliminary net annualized P&L impact of $250 million to $300 million from its productivity programs, expected to be achieved between 2023 and 2025 [32][33] Q&A Session Summary Question: Productivity program and balancing margin versus volume growth - Management emphasized the importance of the productivity program for sustainable, profitable growth and leveraging it for future investments [77] Question: Q2 currency-neutral growth and volume performance - Management noted that while volume growth was modest, core businesses performed well, and the focus remains on balancing volume and profitability [81][82] Question: Volume contribution within Nourish and inflation forecast - Management highlighted strong performance in Nourish and indicated that inflationary pressures are expected to continue into 2023, particularly in raw materials [88][91] Question: Free cash flow performance and inventory levels - Management acknowledged higher inventory levels impacting free cash flow and indicated efforts to improve efficiencies in the second half of the year [96][98] Question: Price-cost balance and inflation management - Management discussed the ongoing efforts to capture price increases and the challenges posed by inflation, indicating a potential lag in recovery [100][102] Question: Demand weakness and macroeconomic slowdown strategies - Management identified China as a region experiencing demand weakness and emphasized the importance of productivity and customer engagement as strategies to navigate potential downturns [113][116]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4858 INTERNATIONAL FLAVORS & FRAGRANCES INC. (Exact name of registrant as specified in its charter) New York 13-1432060 (State or other jurisd ...

International Flavors & Fragrances Inc. (NYSE:IFF) Q1 2022 Earnings Conference Call May 10, 2022 9:00 AM ET Company Participants Michael DeVeau - Senior Vice President, Chief Investor Relations and Communications Officer Frank Clyburn - Chief Executive Officer Glenn Richter - Executive Vice President and Chief Financial Officer Conference Call Participants Gunther Zechmann - Sanford C. Bernstein & Co., LLC Ghansham Panjabi - Robert W. Baird & Co. Jonathan Feeney - Consumer Edge Research Mark Astrachan - Sti ...

F I R S T Q U A R T E R 2 0 2 2 EARNINGS CONFERENCE CALL May 10, 2022 IFF CAUTIONARY STATEMENT 2 Statements in this presentation, which are not historical facts or information, are "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current assumptions, estimates and expectations including those concerning the impacts of COVID-19 and our plans to respond to its implications; the expected impact of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4858 INTERNATIONAL FLAVORS & FRAGRANCES INC. (Exact name of registrant as specified in its charter) New York 13-1432060 (State or other juris ...

CAGNY 2022 Glenn Richter – EVP & CFO February 24, 2022 iff CAUTIONARY STATEMENT 2 Statements in this presentation, which are not historical facts or information, are "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current assumptions, estimates and expectations including those concerning the impacts of COVID-19 and our plans to respond to its implications; the expected impact of global supply c ...

☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (I.R.S. Employer Identification No.) 521 West 57th Street, New York, NY 10019-2960 For the fiscal year ended December 31, 2021 OR (Exact name of registrant as specified in its charter) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) For ...

F O U R T H Q U A R T E R & F U L L Y E A R 2 0 2 1 EARNINGS CONFERENCE CALL February 10, 2022 IFF CAUTIONARY STATEMENT 2 Statements in this presentation, which are not historical facts or information, are "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current assumptions, estimates and expectations including those concerning the impacts of COVID-19 and our plans to respond to its implications ...

International Flavors & Fragrances Inc. (NYSE:IFF) Q4 2021 Earnings Conference Call February 10, 2021 9:00 AM ET Company Participants Michael DeVeau - Head of IR Andreas Fibig - Chairman and CEO Glenn Richter - EVP and CFO Conference Call Participants Gunther Zechmann - Bernstein Mark Astrachan - Stifel Mike DeStefano - Wells Fargo John Roberts - UBS Adam Samuelson - Goldman Sachs Jeff Zekauskas - JPMorgan Lauren Lieberman - Barclays David Butler - Deutsche bank Ghansham Panjabi - Baird Chris Parkinson - Mi ...

Financial Data and Key Metrics Changes - For the first nine months of 2021, the company achieved $8.6 billion in sales, representing a 10% growth with a 7% increase on a currency-neutral basis [9][10] - The adjusted operating EBITDA margin was 22%, with combined EBITDA growth of 5% [10] - Free cash flow reached $884 million, approximately 10% of trailing nine months sales, driven by strong cash generation [10][43] Business Line Data and Key Metrics Changes - The Nourish division achieved 9% currency-neutral sales growth, with broad-based strength across flavors, ingredients, and food design businesses [17] - The Scent division delivered 8% currency-neutral growth, led by double-digit growth in fine fragrance and strong performance in consumer fragrance [17] - Health & Biosciences saw strong demand in key areas but faced margin challenges due to higher logistics costs, resulting in a 12% decrease in operating EBITDA [37][40] - Pharma Solutions remained flat for the year, impacted by supply chain challenges [18][40] Market Data and Key Metrics Changes - North America achieved 7% growth across all business divisions, with Nourish and Scent leading the performance [13] - Asia experienced a 7% increase in sales, driven by double-digit growth in India and low single-digit growth in China [14] - Latin America was the strongest performing region with 12% growth, primarily from Nourish and Scent divisions [14] - EMEA region saw 7% sales growth, with double-digit increases in the third quarter [15] Company Strategy and Development Direction - The company is focused on portfolio optimization and has completed the divestiture of its food preparation business, with plans to divest the Microbial Control business by Q2 2022 [11][12] - The management emphasized the importance of executing pricing actions to combat inflationary pressures and improve gross margins [34][47] - The company aims to achieve a deleveraging target of less than 3 times net debt to EBITDA within 20 to 36 months post-transaction close [44] Management's Comments on Operating Environment and Future Outlook - Management acknowledged significant inflationary pressures affecting raw material, logistics, and energy costs, which have impacted margins [10][46] - The company expects continued strong sales momentum and is optimistic about returning the Pharma Solutions division to profitability [22][40] - The outlook for 2021 has been revised to target $11.55 billion in total revenue, reflecting strong demand despite ongoing macro supply chain challenges [47][49] Other Important Information - The company has achieved approximately $40 million in cost synergies, nearing its 2021 target of $45 million [25] - Management is confident in the long-term potential of the combined company following the merger with DuPont's N&B business [30] Q&A Session Summary Question: What do you think of IFF's long-term targets? - Management is pleased with the tracking of topline growth against long-term targets and feels comfortable with the deleveraging target [55] Question: Can you discuss margin contraction and guidance cuts? - The primary hit to margins has been from material costs, with inflation rates higher than initially anticipated [64] Question: How do you see inflation for '22 and pricing implementation? - The company is in early phases of planning for '22, expecting to implement pricing actions early in the year, but timing of recovery is uncertain [73] Question: Can you provide insights on synergy realization in '22? - Cost synergies are on track to exceed targets, while sales synergies are also progressing well [77] Question: Is there potential for portfolio optimization? - The company is working on optimizing its portfolio and expects to provide more transparency early next year [86]