Benzinga | May 10, 2021 04:17PM EDT

International Flavors & Fragrances Sees Combined FY 2021 (Excl. N&B Jan) Sales ~$11.25B

The Company updates 2021 financial guidance on a combined basis, which is defined as a full 12 months of legacy IFF results, and 11 months (excludes January) of N&B results, in the 2021 period, in light of the merger completion on February 1, 2021.

Combined FY 2021 (excl. N&B Jan)5

Sales ~11.25B

~23%

Rustom Jilla finished, "We have increased our sales forecast for the full year, driven by higher volumes, foreign exchange, and pricing actions to help reduce the impact of higher raw materialAdjusted and logistics costs. This, combined with our focus on costOperating reduction, gives us confidence that we can achieve our full yearEBITDA adjusted operating EBITDA goal on a combined basis."Margin6 Previous full year guidance was based on a full 12 months of estimated results for both legacy IFF and N&B. In January 2021, N &B actual sales were approximately $507 million and adjusted operating EBITDA was $107 million.

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