The 2021 half year results show strong financial performance with sales growth of 7.9% on a like-for-like basis and 4.7% in Swiss francs. Sales performance was excellent across all markets and segments, with strong contribution from 2025 strategic growth areas. The high growth markets performed well with a like-for-like growth of 10.4%. The underlying EBITDA margin was 24.2%, compared to 23.7% in 2020, and free cash flow was 5.5% of sales or CHF 186 million. The fragrance and beauty division had good growth, while the taste and wellbeing division had a higher impact from COVID-19. The portfolio structure was based on 2019 actual 'pre-COVID' results. The mature market had strong sales growth, while the high growth market had lower sales growth.
