With half-year revenue of RMB 40 billion, flavor & fragrance giant IFF has 'stabilized'

Recently, International Flavors & Fragrances Inc. (IFF) released its financial results for the second quarter of fiscal year 2025 and key consolidated financial data for the first half of the year. From a financial performance perspective: 1. Revenue Total revenue for the first six months of fiscal year 2025 amounted to USD 5.607 billion (approximately RMB 40.008 billion), down 3.13% year-on-year from USD 5.788 billion in the same period last year. Second-quarter sales reached USD 2.764 billion (approximately RMB 19.722 billion), a 4% decline year-on-year; however, sales growth excluding foreign exchange impacts was 3%. 2. Profit The company reported a net loss of USD 405 million for the first six months of fiscal year 2025, compared to net income of USD 233 million in the same period last year. Pre-tax profit for the second quarter stood at USD 534 million, while adjusted EBITDA totaled USD 552 million (approximately RMB 3.939 billion); adjusted EBITDA excluding foreign exchange impacts grew by 6%. The losses may stem from expenses related to business divestitures, rising operating costs, or underperformance in certain business segments. International Flavors & Fragrances Inc. (IFF) is a global leader in flavors, fragrances, and functional ingredients, delivering sensory experiences and nutrition & health solutions to industries including food & beverage, personal care, home care, and pharmaceuticals. In 1889, Josef Polak and Leopold Schwarz co-founded Pollak & Schwarz in the Netherlands—a manufacturer of fruit flavors and essential oils—which soon became Europe’s leading flavor producer at the time. In the early years of World War II, the company merged with U.S.-based Van Ameringen-Haebler, Inc., which specialized in fragrance products. In 1958, the global business consolidation was completed, and the new entity was named International Flavors & Fragrances (IFF). By business segment: ① Taste Business Second-quarter revenue reached USD 631 million, with broad-based growth across all regions. Adjusted EBITDA stood at USD 125 million; the second-quarter adjusted operating EBITDA margin was 19.8%. On a comparable basis, operating EBITDA—adjusted for foreign exchange neutrality—grew by 3%.

Stock price down 46%; net profit up only 4.17%! Greenergy proposes a high-dividend payout of RMB 10 per share (10-for-10)

Lu Wencong also pledged to actively promote the convening of the Board of Directors to deliberate on this proposal and to vote in favor during the relevant meeting. The specific profit distribution plan will be formulated lawfully by the Board of Directors within the scope of authority delegated by the shareholders’ meeting, based on the company’s Q3 2026 financial status, accumulated undistributed profits, cash flow position, and corporate development strategy—and subject to prescribed approval procedures and information disclosure obligations. The company cautions that implementation of the above proposal remains subject to completion of relevant approval procedures and thus entails uncertainty. Total dividend payout estimated at approximately RMB 133 million At RMB 1 per share, this dividend level is substantial. According to Investment Reference Network calculations, using the company’s closing price of RMB 38.86 on October 13, the implied dividend yield is approximately 2.6%; if calculated against the IPO issue price of RMB 26.33, it approaches 3.8%. Based on the company’s market capitalization of RMB 5.181 billion and share price of RMB 38.86, the total number of shares outstanding is estimated at approximately 133 million. At RMB 1 per share, the proposed dividend payout totals approximately RMB 133 million. Meanwhile, the company’s net profit attributable to shareholders for the first half of 2026 was RMB 98.5212 million—yielding a payout ratio of roughly 1.35x. Stock price down ~46.03% from peak The timing of the dividend proposal coincides with a significant stock price correction. The listing prospectus indicates that Greenergy’s IPO issue price was RMB 26.33 per share, corresponding to a P/E ratio of 19.8x. On its first trading day, the stock surged to RMB 72 per share before entering a phase of volatility and decline. Calculating the difference between these two prices yields a decline of approximately 46.03%. H1 net profit attributable to shareholders up 4.17% From an operational standpoint, the company has maintained steady growth in recent years. From 2023 to 2025, Greenergy’s revenue increased from RMB 735 million to RMB 1.075 billion, while net profit rose from RMB 92.9241 million to RMB 179 million. Its three-year compound annual growth rate (CAGR) for revenue was 20.95%, and for net profit, 38.78%—indicating faster expansion on the profit side than on the top line. In 2026, growth has moderated. From January to June, the company achieved revenue of RMB 608 million, up 11.07% year-on-year, and net profit attributable to shareholders of RMB 98.5212 million, up 4.17%.

International Flavors & Fragrances Stock Sits at USD 90.68, 1.31 Percent Below Its 52-Week High

Oct 17, 2026

International Flavors & Fragrances Inc stock trades at USD 90.68, near its 52-week high, while Barclays raised its price target to USD 105 with an Overweight rating.

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