In the first half of 2021, IFF achieved $5.6 billion in sales representing 8% growth or 5% on a currency neutral base.
For comparable purposes and to reflect the portfolio differences between our peers, I want also to highlight that both businesses performed well with legacy IFF achieving a very strong high-single digit growth rate with nearly 100 basis points of EBITDA margin expansion, and legacy N&B growing in mid-single digits.
In the first half combined EBITDA growth was a solid 6% and a combined EBITDA margin of 22.5%.
Importantly, our strong free cash flow of $533 million enables IFF to maintain significant financial flexibility, including our efforts to delever.
We remain on track to achieve our deleveraging targets of under three times by year three post transaction close and we improved our net debt to credit adjusted EBITDA leverage on 4.3 times in the first quarter to 4.2 times in the second quarter.
Similar to the first quarter, our Asian markets continue to perform well achieving a 5% increase in sales led by double-digit growth in India and a mid single-digit performance in China.
Latin America, our strongest performing region, we achieved 12% sales growth driven by double-digit performance in nearly all of IFF's business segments and underpinned by favorable currency movements.
We achieved a 2% increase in sales in the first half as COVID 19 related restrictions eased.
I will provide a more detailed look at our sales performance across IFF's key business segments through the first half of 2021, particularly those that significantly contributed to our overall 8% sales growth, or 5% growth on a currency neutral basis that I mentioned earlier.
Nourish achieved currency-neutral growth of 6% driven by a strong performance in flavors ingredients and Food design.
Similar to the first quarter, Scent remains our largest sales driver on a year-to-date basis, achieving 8% of currency-neutral growth led by a strong performance in Fine Fragrance and Consumer Fragrance.
However, on a year-over-year basis, EBITDA grew about 7%.
Our leading growth and profit -- profitability driver Scent achieved an operating EBITDA margin increase of 170 basis points and absolute EBITDA grew nearly 20%.
Lastly, in Pharma Solutions, the segment's 1% growth was driven primarily by improvements in industrials, so our margin was significantly challenged due to higher energy costs, lower manufacturing utilization and the result in the weather related raw material shortages.
Now on slide 10 and 11, I would like to discuss our continued synergy progress in connection with our merger with N&B.
From a revenue synergy perspective, we remain on track to meet our $20 million revenue synergy target this year.
Coupled with continued demand and positive feedback from our customers, we are also confident in our ability to meet our 2024 run rate revenue synergy target of approximately $400 million.
This opportunity represents more than $5 million in annual sales potential.
We made significant strides in the second quarter from an integration perspective, ramping up our cost synergies from a few million dollars in the first quarter to a total of approximately $15 million on the first-half basis.
I'm very encouraged by the continued progress on this front and we are on track to deliver at least $45 million cost synergies for the full year, and ultimately our three-year run rate cost synergy target of $300 million.
In Q2, IFF generated approximately $3.1 billion in sales, representing a 13% year-over-year increase or 9% on a combined currency-neutral basis, primarily driven by double-digit growth in our Nourish and Scent divisions and a strong Health & Biosciences performance.
This enabled us to deliver adjusted operating EBITDA growth of 7%.
We also achieved strong adjusted earnings per share, excluding amortization of $1.50 for the second quarter.
Total company sales were up 8% on a two-year basis with double-digit growth in Nourish and Pharma Solutions, a high single-digit increase in Scent, and mid single-digit growth in H&B.
Sales for the division increased by 15% year-over-year or 11% on a currency neutral basis, driven by robust double-digit growth in flavors with Frutarom contributing to growth, and a strong ingredients performance particularly from our protein solutions, cellulosic, locust bean gum, and Food Protection categories.
Nourish also saw a strong rebound in Food design including a very strong 24% growth in foodservice as pandemic related restrictions continue to ease and consumer behavior and away from home channels continue to normalize.
Although we are pleased to have delivered adjusted operating EBITDA growth of 7%.
Our Health & Biosciences division saw year-over-year growth of 9%, or 5% on a currency neutral basis, led by double-digit growth in Home and Personal Care.
Health & Biosciences also delivered adjusted operating EBITDA growth of 5%.
Our Scent division generated $550 million in total sales representing year-over-year growth of 16%, or 13% on a currency neutral basis.
Scent also achieved adjusted operating EBITDA growth of 34% with margin expansion of 300 basis points, driven by robust volume mix and productivity, which did offset some inflationary pressures.
While Consumer Fragrances was down slightly this quarter against a very strong double-digit year ago comparison, a significant rebound in Fine Fragrances which grew by approximately 85% led by new wins and improved volumes more than offset Consumer Fragrance's more modest performance due to last year's double-digit growth.
On a two-year basis, growth was solid at about 3.5%.
As you will see in the first half IFF generated $533 million in free cash flow, with free cash flow from operations totaling $698 million, driven by an improvement in core working capital.
CapEx for the first half totaled $165 million or approximately 3% of sales as we continue to invest in growth accretive areas that we believe will ultimately prove rewarding over the long term as well as in integration-related activities.
In the first half, we also delivered $274 million in dividends to our shareholders.
From a leverage perspective, our cash and cash equivalents finished at $935 million with gross debt holding steady at $12 billion.
Our trailing 12 month credit adjusted EBITDA totaled $2.61 billion, and our net debt to credit adjusted EBITDA was 4.2 times.
For the full year 2021, we are once again increasing our forecast for total revenues with an expectation to achieve 2021 total revenues of approximately $11.4 billion, which equates to about 7% growth.
This is up from our previous $11.25 billion or 6% growth as we have confidence in our sales momentum continuing into Q3 and through the rest of the year.
Breaking down the contributors of growth, we expect currency-neutral sales to be about 5% and FX benefits to be approximately 2%.
At the same time, we now see full-year 2021 adjusted EBITDA margin at about 22.5% versus approximately 23% previously.
The combination of unfavorable price to raw material costs and higher logistics costs are negatively impacting operating margin in 2021 by more than 100 basis points.
However, through higher sales, strong cost discipline, and our focus on unlocking additional cost synergies, we believe we will end up only about 50 basis points lower than our previous expectations with higher revenues and a roughly similar dollar EBITDA level.

Summary:
However, on a year-over-year basis, EBITDA grew about 7%.
This enabled us to deliver adjusted operating EBITDA growth of 7%.
We also achieved strong adjusted earnings per share, excluding amortization of $1.50 for the second quarter.
Although we are pleased to have delivered adjusted operating EBITDA growth of 7%.
CapEx for the first half totaled $165 million or approximately 3% of sales as we continue to invest in growth accretive areas that we believe will ultimately prove rewarding over the long term as well as in integration-related activities.
For the full year 2021, we are once again increasing our forecast for total revenues with an expectation to achieve 2021 total revenues of approximately $11.4 billion, which equates to about 7% growth.