Symrise enjoys ‘seamless’ first quarter results

By Lucy Whitehouse

- Last updated on GMT

Symrise enjoys ‘seamless’ first quarter results

Related tags Odor Perfume

Symrise, a major flavours, fragrances and ingredients player, has released its Q1 results for 2017, and described itself as having “seamless continued its strong performance from the previous year”.

The company notes that it has again significantly increased sales and earnings, driven by strong demand in all of its segments.

In the preceding three months, Symrise increased its sales to 4.6%, reaching €765.2 million. This is up year on year from  €731.8 million. Adjusted for portfolio and exchange rate effects, the Group states it has achieved organic growth of 5.3 % this first quarter.

"The targeted investments to expand our portfolio, the further development of our customer relationships, and the efforts to build our market presence continued to pay off in the first quarter,”​ asserts Dr. Heinz-Jürgen Bertram, CEO of Symrise AG.

Areas of success

Symrise notes that its sale of Pinova Inc. in December 2016 means organic growth for the Scent & Care segment came in at 1.1%.

Within the Scent & Care segment, its Aroma Molecules division posted the strongest first quarter sales growth, and growth drivers were in particular the highdemand for fragrance ingredients and menthol.

Fine Fragrances as part of the Fragrance divisions also made good contributions to growth, according to Symrise, increasing sales at double-digit rates in Asia. Satisfactory growth was also achieved in Latin America and EAME.

We seamlessly maintained our strong performance into the first months of 2017, expanded our existing business in all segments, and also gained new customer projects. There is therefore every reason to feel confident as we look forward to the coming months,​” notes Bertram.

Looking ahead

On reporting the results, the company’s CEO voiced confidence that the performance will continue in this strong vein in the coming months.

We plan to continue pushing ahead with our growth initiatives and to keep expanding our market position. For 2017 we are planning a number of projects.

“These will include gaining broad access to natural, sustainable raw materials and the expansion of our capacities in Holzminden as well as internationally​," Bertram confirms.

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