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Symrise Sales Jump 6.9%
Posted: November 7, 2007
Symrise (Holzminden) has reported sales for the first nine months of fiscal 2007 of 989.2 million euros, a gain of 6.9% in local currencies. Growth was attributed to success in emerging markets as well as the company’s convenience, health and wellness, and beauty segments. EBITDA jumped 13.9% to 219.0 million euros (same period 2006: 192.2 million euros). Net income for the period totaled 84.3 million euros, a massive jump over the 19.0 million euros earned in the same period, 2006.
Symrise’s Scent & Care division reported sales of 521.8 million euros, a gain of 8.5% in local currencies. The unit saw significant growth in sales with its top 10 customers. The Flavor & Nutrition division experienced a 5.2% growth in local currency sales, reaching 467.4 million euros.
Of the results, Symrise CEO Gerold Linzbach said, “We are delighted about the successful development of the business in the first nine months and are optimistic about 2007 as a whole. Our Scent & Care division, for example, managed to obtain business with customers that had only been accessible to us with great difficulty in the past, if at all. By sales growth and profitability, Scent & Care is now one of the leading players in this industry. Flavor & Nutrition generates a larger proportion of its sales in the fast-growing emerging markets than in Western Europe in the meantime.”
A look ahead: Symrise is now predicting full-year sales growth in local currencies of as much 6%. In addition, the company expects its EBITDA margin to reach 21% or higher.