International Flavors & Fragrances Inc (NYSE: IFF)

International Flavors & Fragrances Inc. (IFF), a prominent entity in the flavors and fragrances industry, has reported sales of approximately $11.479 billion as of 2023. The company boasts a global presence, spanning over 40 countries, and a diverse product portfolio. Its operations are segmented into four primary areas: Nourish, Health & Biosciences, Scent, and Pharma Solutions.

The Nourish segment is dedicated to providing ingredients and solutions for the food and beverage industry, with a focus on natural-based ingredients, flavors, and food designs. Health & Biosciences segment develops and produces enzymes, food cultures, probiotics, and specialty ingredients for the food, pharmaceutical, and animal nutrition industries. The Scent segment creates fragrance compounds, fragrance ingredients, and cosmetic ingredients for personal care and household products industries. Lastly, the Pharma Solutions segment produces pharmaceutical excipients, including cellulosics and seaweed-based excipients, utilized in the creation of prescription and over-the-counter pharmaceuticals.

IFF maintains a competitive edge in the industry through its global leadership positions in the Food & Beverage, Home & Personal Care, and Health & Wellness markets. The company's expertise in creating innovative and proprietary products, coupled with its robust research and development infrastructure, sets it apart. IFF's global network of research and development centers, creative centers, and application laboratories, along with its focus on increasing capacity, investing in key technologies, and implementing new manufacturing processes, contribute significantly to its supply chain.

IFF's customer base comprises global consumer products companies such as Nestle, PepsiCo, and Unilever, as well as small and mid-sized companies. The company's largest customers account for approximately 32% of sales, with no single customer representing more than 10% of sales.

In terms of environmental, social, and governance (ESG) initiatives, IFF has unveiled a comprehensive ESG roadmap, the Do More Good Plan. This plan aligns with the company's purpose of applying science and creativity for a better world and includes ambitious 2030 goals across four key areas: Environmental, Social, Governance, and Sustainable Solutions. IFF has also been recognized for its leadership in sustainability performance, qualifying as a constituent of the Dow Jones Sustainability Index, North America.

IFF's culture is underpinned by five corporate values: empowerment, expertise, innovation, integrity, and responsibility. The company's leadership development efforts empower employees to become forward-looking, inspiring, and capable decision-makers, agents of change, and great leaders. IFF's commitment to gender equality is evident in its global EDGE certification for gender equality at the "Move" level by the Edge Certified Foundation. The company has also been recognized by other external benchmarking organizations, including Bloomberg Gender Equality Index, DisabilityIN's Disability Equality Index, Workplace Pride, and others. IFF has been listed as a "Best Place to Work for Disability Inclusion" for the fourth consecutive year.