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IFF delivered a stronger second quarter across its three continuing businesses, with currency-neutral sales up 6% and adjusted operating EBITDA also up 6%, driven primarily by volume growth and productivity gains. Reported sales rose 2% to $1.95 billion, while adjusted operating EBITDA reached $408 million, or a 20.9% margin, up from 19.7% when discontinued operations were included.

Scent remained the standout growth engine, with reported sales of $665 million, up 10%, and currency-neutral sales up 8%. Growth was led by double-digit gains in Fragrance Ingredients and high-single-digit growth in Consumer Fragrance. Fine Fragrance was more subdued, increasing low-single digits, with IFF citing the impact of the Middle East conflict. Scent adjusted EBITDA rose 5% on a currency-neutral basis to $134 million, with a 20.2% margin, supported by volume growth and productivity.

Taste also showed broad-based momentum, generating $688 million in reported sales, up 5%, with currency-neutral growth of 4% across all regions. Adjusted EBITDA climbed 6% to $124 million, helped by both volume growth and favorable net pricing. The performance suggests that volume, rather than pricing alone, is now providing a meaningful lift for IFF’s flavor business.

Health & Biosciences delivered the fastest reported sales growth, up 8% to $601 million, or 5% currency-neutral, with every business contributing. Grain Processing, Food Biosciences and Animal Nutrition were the primary growth drivers. Adjusted EBITDA rose 6% currency-neutral to $150 million, primarily on volume growth, while the segment maintained the strongest margin of the three at 25.0%.

The results come as IFF reshapes its portfolio around Taste, Scent and Health & Biosciences. The company is selling its Food Ingredients business to CVC for approximately $3.8 billion in net cash proceeds, with the transaction expected to close by the end of Q2 2027. IFF plans to use more than $1 billion to reduce debt and has authorized a $2.5 billion share repurchase program, including a $500 million accelerated repurchase in the second half of 2026.

For 2026, IFF expects continuing-operations sales of $7.4 billion-$7.6 billion, representing 2%-4% currency-neutral growth, with adjusted EBITDA of $1.53 billion-$1.60 billion, up 4%-8% on a currency-neutral basis. The quarter therefore points to a business increasingly centered on volume-led growth, with Scent providing the strongest top-line momentum and Taste showing broad-based recovery, while portfolio simplification is designed to improve the company's growth and margin profile over the longer term.

This article explores fragrance, aromatherapy, home fragrance, reed diffuser, scented candle, essential oil, perfume, natural fragrance, room scent, car fragrance, sharing the latest industry insights and offering practical references for enthusiasts.

Source: Perfumer & Flavorist (https://www.perfumerflavorist.com/)

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