A golden year for Firmenich

The initial partnership between Philippe Chuit and Frédéric Firmenich in 1895 resulted in the creation of one of the world’s leading privately-owned taste and perfume companies. Maryke Foulds looks at some of the highlights that have defined 125 years of creative and scientific excellence.

Sustainability lies at the core of its business ethos and forms a fundamental part of day-to-day operations. CEO Gilbert Ghostine explains, “We are driven by our purpose to create positive emotions to enhance wellbeing, naturally. We put science and creativity to work to spread moments of happiness while shaping the future of taste and nutrition, accelerate access to sanitation and respecting nature and our position as an ethical business.”

With net revenue of CHF3.7bn, Firmenich’s legacy of consistent growth resulted in eight acquisitions over the past two years to expand its market reach. The company reinvests 10% in research every year and counts over 3 000 patents. It is present in 100 markets, employs 10 000 people and is an equal-opportunity and globally-certified gender equality employer.

Through its partnership with B Lab Switzerland, Firmenich became the first in the flavour and fragrance industry to complete the United Nations SDG Action Manager Assessment. This is a critical first step towards achieving #BCorporation certification, recognising social and environmental performance.

This milestone follows its accomplishments in 2019 as the 7th company globally to receive the Global EDGE certification for gender equality and one of two companies worldwide to receive triple “A” CDP status for climate change, water and forests two years in a row.

“Earlier this year, we were awarded EcoVadis’ highest platinum rating for environmental and social performance, placing us in the top 1% of 65 000 companies to receive this distinction. I am very proud of these achievements and how they uniquely position us to serve our customers through purpose-led partnerships, addressing climate urgency while contributing to delicious, healthy, ethical and traceable products,” Ghostine exclaims.

In a year marked by an unprecedented pandemic, the company has also proven its resilience, recording CHF3.9bn in net revenues, and growth up by 2.8% in local currency compared with last year.

“This year we celebrate many milestones. We strengthened our position in flavour and fragrance ingredients with the acquisition of DRT – Les Dérivés Résiniques et Terpéniques, the largest in our history. Accelerating our environmental and social leadership, we are the first in our industry to complete the UN SDG Action Manager, and on our way to becoming a #BCorp. We are one of the few companies in the world to power all our operations with 100% renewable electricity,” Ghostine concludes. •

FIRMENICH THROUGH THE YEARS …

1895 - Chuit & Naff established 1934 - Company renamed Firmenich & Cie 1945 - Creation of flavour division 1946 - Tetraromes and first strawberry flavour launched 1972 - Firmenich SA established 1976 - Inauguration of a new compounding factory in Geneva, Switzerland 1988 - Opening of a new affiliate in South Africa 1990 - Creation of holding company Firmenich (International) SA 1991 - Firmenich signs the Business Charter for Sustainable Development 1992 - Firmenich signs the Responsible Care Programme 1997 - New automated flavour plant opens in Geneva, Switzerland 2001 - Inauguration of the Food & Flavour Expertise Centre in Geneva, Switzerland 2007 - Firmenich signs World Safety Declaration 2009 – New site opening in Dubai, UAE 2014 - MSC certification for seafood flavours 2015 - At Paris’ COP21, Firmenich launches 2020 environmental goals to become carbon neutral 2016 - Inauguration of Léman, state-of-the-art perfumery plant in Geneva, Switzerland 2017 - DuPont Sustainability Award

Quote:

“We believe that fragrance and taste can change the world. We create positive emotions through science to improve the wellbeing of consumers while preserving the planet.” - Gilbert Ghostine, CEO of Firmenich

Did you know?

TastePrint technology can remove 100% of sugar from products while maintaining the same taste and mouthfeel. In 2019, the company was responsible for removing one trillion calories from consumed food.