Savencia: Revenue Up 7.8% Over Nine Months, But Organic Decline of 1.1%
Savencia published on October 14, 2026 revenue of €5,423 million over the first nine months of the fiscal year, compared to €5,033 million a year earlier in data adjusted by segment. The 7.8% increase is supported by the integration of Chocolate and Quata activities, with a structural effect reaching 10.0%.
At constant scope and exchange rates, activity recorded an organic decline of 1.1%, to which is added an exchange rate effect and the application of IAS 29 standard of the same magnitude (−1.1%). The published growth of the Viroflay cheese group thus relies on its external development, while its historical division declines in comparable data.
A 7.8% Increase in Published Figures, 1.1% Organic Decline
At September 30, 2026, Savencia's revenue stood at €5,423 million, up 7.8% year-on-year. The breakdown provided by the group shows three distinct movements: a positive structural effect of 10.0%, a negative exchange rate and IAS 29 effect of 1.1%, and negative organic growth of 1.1%.
According to the press release, the two negative effects are "more than offset" by the structural effect linked to the integration of Chocolate and Quata activities. The Chocolate activities of Savencia Gourmet, acquired in the first half, have been consolidated since April 1, 2026.
The group indicates that the change at the end of September marks an acceleration compared to the end of June. It attributes this to the seasonality of Chocolate activities, whose billings related to the year-end period begin in the third quarter.
Historical Trades & Zones Down 3.5% Organically
The integration of chocolate led Savencia to reorganize its activities into two segments. Historical Trades & Zones primarily group cheese and chocolate activities (boutique and retail) in France and Europe, on markets that the group describes as mature. Development Trades & Zones bring together notably Ingredients, Premium Food Service and all activities in the Americas and Asia Pacific.
Historical Trades & Zones reported revenue of €2,396 million, compared to €2,372 million a year earlier, representing an increase of 1.0%. This change includes a structural effect of 4.3% and an exchange rate effect of 0.2%, but a decline of 3.5% in comparable data. The group attributes this to "still fragile" consumer trends since the beginning of the year as well as price alignment in a context of declining milk prices.
Development Trades & Zones achieved €3,305 million in revenue, compared to €2,950 million, up 12.0%. This progression is primarily driven by a structural effect of 14.2%, related to Chocolate and Quata activities, while the exchange rate effect stands at −2.4%. On an organic basis, growth reached 0.2%, with improvement in the third quarter, particularly in the Americas zone and in Ingredients.
On a Pro Forma Basis, Growth Limited to 1.3%
Savencia also publishes comparable data considering the integration of Savencia Gourmet's Chocolate activities as of January 1, 2026. On this basis, revenue at the end of September reached €5,588 million, compared to €5,518 million, representing an increase of 1.3%. It breaks down into a structural effect of 3.8%, an exchange rate and IAS 29 effect of −1.2% and organic growth of −1.3%.
In this view, Historical Trades & Zones declined by 3.1% (−3.2% organically), to €2,440 million. Development Trades & Zones progressed by 3.5%, to €3,433 million, with organic growth of −0.6%.
The group also pursued its external growth. It acquired 74% of Casa Radicci's capital in July, in order to strengthen its presence in Italy and expand its portfolio of Italian specialties. On the environmental front, Savencia reiterates its objective of reducing water consumption by 30% by 2035 compared to 2019.
At the end of September, the structural effect of 10.0% remains the main driver of published growth of 7.8%, against organic growth of −1.1%.
