Symrise releases third quarter results: ‘considerable’ increases

By Lucy Whitehouse contact

- Last updated on GMT

Symrise releases third quarter results: ‘considerable’ increases

Related tags: Cosmetics

The flavours, fragrance and cosmetics ingredients company says it has enjoyed accelerated growth in the third quarter, with a ‘considerable increase’ across sales and earnings for the nine-month period.

Organic sales sa an increase of 6.5% in the first nine months of the year, and 9.1 % in the third quarter, Symrise says.

Group sales are up by 3.9 % to € 2,278.4 million, including portfolio and exchange rate effects, with the company enjoying a EBITDA margin at 21.3 %.

On the back of these results, Symrise says it reinforces sales and profitability targets for the current fiscal year.

"We continued our growth initiatives in the third quarter, which led to a successfully expanded market position,​" said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG. "We consider the strong sales growth as a result of our unique positioning.

Targeted investments

Symrise attributes its ongoing good performance to strategic investments across several key areas of the business.

The targeted investments into the product portfolio, research and development and new markets support our strategy,​” confirmed Bertram.

We are confidently looking ahead to the remaining weeks of the year. Our guidance for 2017 remains in place and we also confirm our long-term targets. We are committed to continue as one of the fastest-growing companies in the industry and to operate highly profitable."

Symrise of late

Recent moves by the ingredients player have seen it enjoy strongest growth in its cosmetics ingredients division. The company notes that demand was especially high in the EAME and Asia Pacific regions, with sales ‘significantly up’ in the national markets of Germany, Italy, China and South Korea.

In terms of recent updates seen for Symrise, earlier this year the company was certified as a Green Company for the second time by DQS CFS​, the German Association for Sustainability.

It also saw an A rating by another sustainability measurement firm, and was recognised by the Fragrance Foundation with the ‘Perfume Extraordinaire France Foundation award​.

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