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IFF Presents “Learning Labs” Video Series to Demonstrate Potential of New Company

April 15, 2021 GMT

NEW YORK--(BUSINESS WIRE)--Apr 15, 2021--

IFF (NYSE: IFF) today introduced a new “Learning Labs” video series, featuring in-depth discussions with the leadership of the company’s segments and R&D function. Each video provides a comprehensive overview of IFF’s robust portfolio and enhanced capabilities following its recently completed merger with DuPont’s Nutrition and Biosciences (“N&B”) business. The complete “Learning Labs” series can be found here: ir.iff.com/events-presentations. In addition, IFF has also provided segment-level financial detail based on 2020 pro forma results.

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“As a global industry leader of high-value consumer ingredients, we are pleased to provide a closer look into our capabilities, operational model and future growth potential,” said Andreas Fibig, IFF Chairman and CEO. “Stakeholder communication remains essential to IFF’s continued growth, and since combining with N&B, we have continued to explore new ways to meaningfully connect with our investors. The insights shared through our ‘Learning Labs’ series and detail provided in our 2020 pro forma segment financials is a testament to our commitment to continued transparency and greater comparability to peers.”

IFF 2020 Pro Forma Segment-Level Financial Results

To accompany the “Learning Labs” video series, IFF has provided additional detail on the financial performance, including sales and adjusted EBITDA metrics, for each of the company’s four segments on a 2020 pro forma basis.

Welcome to IFF

At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn.

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International Flavors & Fragrances Inc.

2020 Pro Forma Combined Reporting Segments (1)(2)

(Dollars in millions)

 

Q1
2020 (3)

 

Q2
2020

 

Q3
2020

 

Q4
2020

 

Pro Forma
FY 2020 (excl.
N&B Jan.) (3)

 

Pro Forma
FY 2020 (4)

 

 

 

 

 

 

 

 

 

 

 

 

Nourish Pro Forma Sales

1,276

 

1,450

 

1,418

 

1,488

 

5,632

 

5,887

Nourish Pro Forma Adjusted Operating EBITDA

255

 

303

 

275

 

257

 

1,090

 

1,153

as % of Pro Forma Sales

20%

 

21%

 

19%

 

17%

 

19%

 

20%

 

 

 

 

 

 

 

 

 

 

 

 

Scent Pro Forma Sales

541

 

475

 

525

 

524

 

2,064

 

2,064

Scent Pro Forma Adjusted Operating EBITDA

118

 

87

 

118

 

93

 

416

 

416

as % of Pro Forma Sales

22%

 

18%

 

22%

 

18%

 

20%

 

20%

 

 

 

 

 

 

 

 

 

 

 

 

Health & Biosciences Pro Forma Sales

427

 

588

 

579

 

572

 

2,166

 

2,353

Health & Biosciences Pro Forma Adjusted Operating EBITDA

131

 

181

 

172

 

149

 

634

 

680

as % of Pro Forma Sales

31%

 

31%

 

30%

 

26%

 

29%

 

29%

 

 

 

 

 

 

 

 

 

 

 

 

Pharma Solutions Pro Forma Sales

152

 

224

 

215

 

188

 

779

 

839

Pharma Solutions Pro Forma Adjusted Operating EBITDA

42

 

62

 

61

 

38

 

203

 

216

as % of Pro Forma Sales

28%

 

28%

 

28%

 

20%

 

26%

 

26%

 

 

% Change in Sales - 2020 vs. 2019 (5)

 

 

Q1 (3)

 

Q2

 

Q3

 

Q4

 

 

Reported

Currency
Neutral

 

Reported

Currency
Neutral

 

Reported

Currency
Neutral

 

Reported

Currency
Neutral

Nourish

 

3%

5%

 

(4)%

(1)%

 

(5)%

(3)%

 

—%

1%

Scent

 

4%

7%

 

(6)%

—%

 

4%

9%

 

4%

6%

Health & Biosciences

 

8%

11%

 

(4)%

(2)%

 

(1)%

—%

 

1%

—%

Pharma Solutions

 

9%

11%

 

6%

7%

 

2%

1%

 

(2)%

(4)%

Total

 

4%

7%

 

(4)%

—%

 

(2)%

—%

 

1%

1%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pro Forma FY 2020
(excl. N&B Jan.) (3)

 

Pro Forma

FY 2020 (4)

 

 

 

 

 

 

 

 

Reported

Currency
Neutral

 

Reported

Currency
Neutral

 

 

 

 

 

 

Nourish

 

(2)%

—%

 

(2)%

—%

 

 

 

 

 

 

Scent

 

2%

5%

 

2%

5%

 

 

 

 

 

 

Health & Biosciences

 

—%

1%

 

—%

1%

 

 

 

 

 

 

Pharma Solutions

 

4%

3%

 

1%

1%

 

 

 

 

 

 

Total

 

—%

2%

 

(1)%

1%

 

 

 

 

 

 

_______________________

Note: Adjusted Operating EBITDA for each segment is defined as Income (Loss) Before Taxes before depreciation and amortization expense, interest expense, restructuring and other charges, net and certain non-recurring items. Additionally, all corporate expenses have been allocated to all of the reportable segments.

 

View source version on businesswire.com:https://www.businesswire.com/news/home/20210415006035/en/

CONTACT: Michael DeVeau

Chief Investor Relations & Communications Officer

212.708.7164

Michael.DeVeau@iff.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: FINANCE FOOD/BEVERAGE COSMETICS RETAIL PROFESSIONAL SERVICES

SOURCE: IFF

Copyright Business Wire 2021.

PUB: 04/15/2021 04:15 PM/DISC: 04/15/2021 04:15 PM

http://www.businesswire.com/news/home/20210415006035/en