International Flavors & Fragrances(IFF) - 2025 Q3 - Earnings Call Presentation

Q3 2025 Consolidated Results - Revenue decreased by 8% to $2694 million, but comparable currency neutral sales were flat against a strong prior year[26] - Adjusted Operating EBITDA decreased by 9% to $519 million, but comparable currency neutral adjusted operating EBITDA grew by 7%[26] - Adjusted Operating EBITDA Margin decreased by 10 bps to 193%, but comparable currency neutral adjusted operating EBITDA margin increased by 130 bps[26] Segment Performance (Q3 2025) - Taste segment sales increased by 2% on a comparable currency neutral basis to $635 million, with a 2% increase in adjusted operating EBITDA to $128 million[28] - Food Ingredients segment sales decreased by 3% on a comparable currency neutral basis to $830 million, but adjusted operating EBITDA increased significantly by 24% to $106 million[28] - Health & Biosciences segment sales were flat on a comparable currency neutral basis at $577 million, with a 3% increase in adjusted operating EBITDA to $150 million[28] - Scent segment sales increased by 5% on a comparable currency neutral basis to $652 million, with a 6% increase in adjusted operating EBITDA to $135 million[28] Cash Flow & Leverage (9M YTD 2025) - Cash flow from operations totaled $532 million[30] - Capital expenditures were $406 million, approximately 5% of sales[30] - Free cash flow was $126 million[30] - Net debt to credit adjusted EBITDA was 25x, with gross debt totaling $6081 million and cash and cash equivalents at $621 million[30] FY 2025 Outlook - The company expects revenue between $106 billion and $109 billion, with comparable currency neutral growth of 1% to 4%[32] - Adjusted operating EBITDA is projected to be between $2 billion and $215 billion, with comparable currency neutral growth of 5% to 10%[32] - Foreign exchange is expected to have a negative impact of approximately 1% on revenue and 3% on adjusted operating EBITDA[32] - Divestitures are expected to have a negative impact of approximately 7% on revenue and 8% on adjusted operating EBITDA[32]