Strong results earn Symrise CFO another five-year term
The executive board voted to extend Klinger’s contract by another five years, until January 2024, recognizing his successful work in building up the role of the finance department and the positive impact that has had on the company’s performance.
Klinger has been heading up the finance department since January 2016, when he was appointed to support the company’s numerous
and diverse growth strategies.
Contributing to company stability and expansion
“By extending his contract now, we are demonstrating our long-term orientation, and we are also showing our recognition for his strong past performance,” said Dr. Thomas Rabe, chairmain of Symrise’s supervisory board.
“Olaf Klinger did an outstanding job in addressing the increasing challenges of the international capital markets and enjoys an excellent reputation within our financial community."
Symrise has experienced an extended period of strong growth, which was reflected in the company’s latest financial results, published in November last year.
Stronger financial results
The figures showed the company had enjoyed accelerated growth in the third quarter, with a ‘considerable increase’ across sales and earnings for the nine-month period.
Organic sales sas 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 %.
At the time the company’s CEO, Dr. Heinz-Jürgen Bertram, said the results reinforced sales and profitability targets for the current fiscal year.
Symrise has attributed its ongoing good performance to strategic investments across several key areas of the business.
Strategic investment worldwide
“The targeted investments into the product portfolio, research and development and new markets support our strategy,” confirmed Bertram, speaking about the third quarter results.
“We are confidently looking ahead to the remaining weeks of the year. Our guidance for 2017 remains in place and w 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."
Recent moves by the ingredients player have seen it enjoy strongest growth in its cosmetics ingredients division. The company says that demand has been 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 December last year the company also announced it was expanding its position in the Brazilian market through a strategic acquisition.
Reflecting this, the Brazilian arm of the business, Symrise Aromas e Fragrâncias Ltda, acquired Citratus Fragrâncias Indûstria e Comércio Ltda, a producer of fragrances based closed to Sao Paulo.
