Mike Sison's questions to International Flavors & Fragrances Inc (IFF) leadership • Q4 2024
Question
Mike Sison asked about the long-term potential for IFF's EBITDA margin given its current portfolio, and for a retrospective view on the N&B acquisition, including its long-term fit, risks, and synergies with legacy IFF.
Answer
CEO Jon Erik Fyrwald projected that IFF's current portfolio could achieve an EBITDA margin in the low 20s over time, with Health & Biosciences being the highest margin business and Food Ingredients being the most challenged. Reflecting on the N&B deal, he acknowledged the initial complexity but emphasized the significant progress made in clarifying the organization. He described H&B, Scent, and Taste as very strong businesses, while positioning Food Ingredients as a continuing turnaround story. The immediate focus remains on executing the 2025 plan while making strategic investments for future growth.