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Symrise 2013 Sales up 6% On Strong Scent and Care Performance
Posted: March 10, 2014
Symrise AG's 2013 net income rose 9% to €172.3 million and sales grew 6% to €1.830 billion (up 10% in local currency) from a year ago, with particularly strong performance from its scent and care division.
In its 2013 report, the company said scent and care performed particularly well in 2013, benefiting from a positive consumer sentiment worldwide, strong demand for menthol and the fragrance activities acquired from the Belmay Group. The scent and care division said its sales rose 9% to €960.4 million. At local currency, this corresponds to a growth of 13%. It recorded the strongest growth in North and Latin America, excluding negative currency effects.
"We particularly benefited from our expanded menthol activities and from high demand for flavors used in sweet and savory applications," added Heinz-Jürgen Bertram, CEO of Symrise AG. "Our expanded fragrance activities in the USA also made a significant contribution."
Flavor and nutrition posted 2013 sales of €870 million, up 2%. Adjusted for exchange rate effects, this growth amounted to 6%. Smyrise said every application area contributed to this growth, with sweet and savory products making the strongest contributions, as well as the consumer health application area. Latin America recorded the strongest sales increase for the division with sales up by 15% at local currency.
Symrise is expecting to grow as a group and in both divisions faster than the international market for flavors and fragrances, which is projected to grow by between 2 - 3%. With respect to cost development, Symrise anticipates continued volatility with raw material prices. Some currencies will also remain under pressure, it said.