Croda International Plc - Company Profile
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Business Description
Croda International Plc (Croda) offers specialty chemicals to the personal care, healthcare, home care, crop care and industrial specialties markets. It operates through three reportable business segments, Consumer Care, Life Sciences, and Industrial Specialities. It has manufacturing facilities in Europe, Middle East, Africa, Asia, North America, and Latin America. In FY2023, the company reported capital expenditure of GBP170.1 million, which grew by 22.8% YoY.
R&D Overview
The company's innovation model relies on internal research and development (R&D) investment, as well as its open innovation network, which provides access to over 500 universities and small businesses. In addition to this, the company acquires technologies with disruptive potential through organic investment. The company R&D efforts focused on a pipeline of technology acquisitions and over 500 open innovation partners. These partnerships are important to the company's business model because they allow the company to collaborate with leading scientists in universities and small businesses, and access to specialist, world-class expertise, and facilities. The company has developed over 50 active ingredients using its biotechnology capabilities. Its biotechnology also focuses on leveraging its expertise in UV filters for Asian markets. Croda utilizes its intellectual property to transform basic feedstocks into ingredients that enable customers to maximize their impact with minimum footprints. The company continued to increase collaboration between biotechnology laboratories and to develop products with a high bio-based content. In addition, the company’ R&D is working to develop new products that have a higher bio-degradability profile and to share their expertise with customers. In FY2023, the company spent GBP62.3 million on research and development, which as a percentage of total income was 3.7% and declined 6.0% YoY.
Business Segments
Overview
Includes beauty activities, beauty care, fragrances and flavours and home care. The beauty care operates in the highest premium part of the market, offering customers scientific expertise for unparalleled product efficacy. Beauty Care offers differentiated ingredients across skin, hair and solar care. F&F is a preeminent emerging market provider, with global reach and innovative technologies that meet customer needs with agility and quality. Home Care is focused on bringing Croda’s ingredients to selective premium home care markets.
Performance
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Overview
Includes contributions made towards sales volumes and enhances overall asset utilization cost absorption, and ultimately profitability, as well as monetising co-streams so that the company can maximise the value of all of its products. This segment is regionally led to enable flexible optimisation of manufacturing capacity matched against local demand
Performance
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Overview
Includes Agriculture, Pharma and Seed Enhancement Agriculture includes crop protection, which has leading relationships with the major crop science companies, offers ingredients that improve the performance and deliver crop formulations. Pharma aims for leadership in biologics drug delivery, delivering drug and vaccine systems through synthesis, system formulation and application technology know-how. Seed Enhancement leverages its leadership in seed coating systems and enhancement technologies to improve germination, stimulate healthy development of seeds and increase crop yield.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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