Symrise continues growth after "dynamic" half year

12 Nov 2018

Following what the company describes as a very dynamic first half of the year, Symrise continued its growth course in the third quarter. All segments and regions contributed to this positive trend.

Symrise continues growth after dynamic half year

Following what the company describes as a very dynamic first half of the year, Symrise continued its growth course in the third quarter. All segments and regions contributed to this positive trend. The group achieved an organic sales increase of 8.8% in the first nine months of the year. Taking portfolio and exchange rate effects into account, sales in reporting currency were up 4.6% to €2,382.6 million (9M 2017: €2,278.4 million). EBITDA amounted to €475.7 million (9M 2017: € 485.2 million). The EBITDA margin remained at 20.0%.

Based on the positive nine-month development, Symrise raised its sales objective, which had already been increased at mid-year. Symrise says it aims to outperforming market growth and to achieve organic sales growth of more than 8% in fiscal year 2018.

"Symrise held its course extremely well in the third quarter, despite the headwinds from volatile exchange rates, raw material shortages and increased raw material prices. We fully utilized growth opportunities and reliably supplied our customers. Based on our strong nine-month performance we are optimistic for the remaining weeks of the year and raise our sales guidance. We are committed to making 2018 yet another successful year for Symrise and its customers and will work with full dedication during the remaining weeks. Moreover, we are already laying the foundation for our future growth and are consistently implementing our investment programs. After putting additional capacity for Cosmetic Ingredients into operation in the USA, we have just a few days ago opened a new production facility for natural Food Ingredients. We will continue to manufacture our products close to our customers which allows us to maintain a direct presence in key customer markets and to make best possible use of growth opportunities," said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG.