UPDATE 1-Givaudan Q1 sales rise 9.2 pct, beat poll

* Q1 sales rise 9.2 pct to 1.066 bln Sfr

* Beats average poll estimate of 1.011 billion Sfr

* Expects to meet savings goal, EBITDA margin of 22.7 pct

(Adds details, background)

ZURICH, April 9 (BestGrowthStock) – Swiss flavours and fragrances
maker Givaudan (GIVN.VX: ) posted a forecast-beating 9.2 percent
rise in first-quarter sales on Friday as consumers splash out
again on costly perfumes.

Sales for the first three months rose to 1.066 billion Swiss
francs ($990.7 million), beating the average estimate of 1.011
billion francs in a Reuters poll.[ID:nLDE6361GK]

The maker of ingredients for soaps, confectionery and soft
drinks said on Friday it was confident of reaching the announced
savings target of 200 million francs by the end of the year.

The company also said it expected its margin on an earnings
before interest, tax, depreciation and amortisation (EBITDA)
level to improve to 22.7 percent by end 2010, reaching its level
prior to the 2007 acquisition of Quest International.

Consumers across the globe are starting to spend again on
treats after months of austerity as a result of the worst
economic downturn in decades.

Givaudan, which makes ingredients for designer perfumes such
as Calvin Klein and Burberry, has said it is aiming to outpace
underlying market growth this year, setting itself the same goal
as German rival Symrise(SY1G.DE: ). [ID:nLDE6211GI]

The group trades at around 15 times forecast 2011 earnings,
a small premium over U.S. rival International Flavors and
Fragrances (IFF.N: ), but at a discount to Symrise.

Investing Analysis

(Reporting by Katie Reid)
($1=1.076 Swiss Franc)

UPDATE 1-Givaudan Q1 sales rise 9.2 pct, beat poll