Symrise achieves new all-time highs for growth as cosmetics ingredients boosts Scent & Care
The Flavor & Nutrition segment was a standout performer with a sales increase of 47% in the first nine months of the year; but sales in the Scent & Care segment were also strong, rising by 10 % to €812.3 million.
The main growth drivers here were the aroma molecules and cosmetic ingredients business.
Unrivalled strength
Overall, Symrise increased its sales by 29 % to € 1,977.0 million and its earnings before interest, taxes, depreciation and amortization (EBITDA) by 30 % to € 448.5 million, for the nine month period, making it one of the most profitable companies in the industry.
"Our results speak for themselves. There are very few companies in our industry that can match the growth and profitability of Symrise,” says Dr Heinz-Jürgen Bertram, CEO of Symrise.
“We have benefited from strong demand in both segments and all regions, and have further reinforced our market position.”
The results were boosted thanks to the acquisition of natural manufacturer, The Diana Group, last year, as it contributed sales of € 395.4 million.
Even without this though, Symrise achieved above-average growth, with Latin America among the fastest-growing regions with sales up 39%, while North America and EMEA posted sales increases of 25 % and 21 %, respectively.
Emerging Markets also posted a strong growth, with a sales increase of 25 % at local currency and the Group generated 46 % of total sales in these highly dynamic markets.
Positive outlook
The strength of these results has meant that the Germany-headquartered firm remains optimistic in its 2015 outlook despite political tensions in some regions and a recent economic slowdown in some emerging countries such as China.
The company says it expects demand to remain strong in both segments and all regions in the final quarter.
“We continue to anticipate our full-year results for 2015 with confidence. Our fourth quarter started out at a strong pace, and I believe that we are very well positioned to make the best use of the remaining weeks,” adds Bertram.
