Symrise Group has started the new business year with increased sales by 10.5% in the first quarter of 2021.
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Taking account of negative currency translation effects, sales rose by 3.5% to €949.6 million (Q1 2020: €917.1 million) compared to the prior-year period. In spite of the global coronavirus pandemic, all segments recorded strong demand and achieved high organic growth. Sales for the first quarter also reflected catch-up effects resulting from delivery backlogs caused by the cyber-attack in December.
Scent & Care, the business with fragrances, aroma molecules and cosmetic ingredients, generated sales of € 373.2 million and grew organically by 8.3 % (Q1 2020: €368.4 million). Taking negative currency translation effects into account, sales in reporting currency increased by 1.3%.
The main growth drivers were the Consumer Fragrance and Oral Care business units.
In the Flavor Segment, the business with flavors for food and beverages, sales increased organically by 9.1 % in the first quarter. Taking negative currency translation effects into account, sales in reporting currency rose by 2.8 % to € 331.5 million (Q1 2020: € 322.6 million).
Applications for beverages and savory products delivered the strongest organic growth in the EAME region, primarily in the national markets of Germany, Ireland, Russia, France, and Spain. Sales in applications for sweets generated moderate organic growth during the first quarter.
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The Nutrition segment, comprising applications for food, pet food, probiotics and activities of ADF/IDF, generated remarkable organic growth of 16.1 % in the first quarter. Taking negative currency translation effects into account, sales increased by 8.3 % to € 244.8 million (Q1 2020: € 226.1 million) compared to the prior-year quarter.
All business units underwent very positive development in the first three months and achieved organic growth in the double-digit percentage range.
Dr. Heinz Jürgen Bertram, CEO of Symrise AG, said, “Symrise AG has started very well into the first quarter of 2021. The order activities of our customers continued to be defined by the global coronavirus pandemic. We therefore again recorded particularly high demand for applications for hygiene and oral care products, cooking at home products as well as for pet food solutions. In the first quarter of this year, we also processed the order backlog that resulted from the criminal cyber-attack last December. Furthermore, we have completely reinstated our IT systems which are fully operational again. We see ourselves very well positioned for the coming months. Battling the pandemic will continue to define everyday lives as well as economic conditions in 2021. However, we expect that the increasing vaccination rates will support the economic recovery. We expect continued reliable demand and will continue to drive forward our growth initiatives. We aim at organic growth of 5 to 7 % for the current fiscal year.”
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