News

Symrise reports accelerating growth

16 Aug 2018

After what the company describes as a “dynamic” start to the year, Symrise has reported that it accelerated its organic growth course in the second quarter, showing 10.6% growth.

Symrise reports accelerating growth

After what the company describes as a “dynamic” start to the year, Symrise has reported that it accelerated its organic growth course in the second quarter, showing 10.6% growth. All segments and regions contributed to this positive development. Group sales rose by 9.0 % in the first half of 2018. Taking into account portfolio and exchange rate effects, sales grew by 4.0 % to €1,575.5 million (H1 2017: €1,515.3 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to €317.1 million (H1 2017: €322.9 million). The EBITDA margin remained at 20.1 %. Against the background of this positive business performance, Symrise is refining its outlook for 2018: the group now expects an increase in annual sales above the medium-term target corridor of 5 to 7 %, thereby growing significantly faster than the market.

“Symrise took advantage of the momentum in the second quarter and significantly expanded business in all segments. Our comprehensive backward integration is proving to be a great asset. Also with a shortage of certain key raw materials for fragrance compositions, we were able to supply our customers reliably,” said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG. “We are moving into the second half of the year from a strong position. Targeted investments in research and development, sales strength and capacity expansions are driving our growth. Therefore, we are raising our sales forecast for the current fiscal year: We expect organic growth above our medium-term target corridor of 5 to 7 % and will therefore significantly exceed market growth.”

Flavor achieved strong organic sales growth of 10.9 % in the reporting period. All regions and application areas significantly expanded their sales. The segment also benefited from new business with vanilla and the high price level of vanilla applications. Considering exchange rate effects and the Cobell acquisition, the segment’s sales grew by 9.0 % to €604.7 million (H1 2017: €554.8 million).

In the EAME region, the Flavor segment achieved double-digit organic growth rates. Significant growth impetus came mainly from applications for Sweets and for Savory in Western Europe and Russia.

The Asia/Pacific region recorded high single-digit, and for some areas even double-digit, growth rates across all application areas. The markets of China, India, South Korea and Singapore developed particularly well.

Latin America also showed a very good development with organic growth rates in the upper single-digit range. Sweets and Savory performed especially well, achieving double-digit growth in Argentina, Brazil and Mexico.

The North America region achieved double-digit organic sales growth rates as well and therefore also showed a very positive development. The first half of the year was particularly dynamic in the Beverages application area.

EBITDA in the Flavor segment increased in the first half of 2018 by 3.3 % to €127.0 million (H1 2017: €123.0 million). At 21.0 %, the EBITDA margin remained at a very good level (H1 2017: 22.2 %).

Related news

UK High Court allows Oatly to use 'milk' on packaging

UK High Court allows Oatly to use 'milk' on packaging

17 Jan 2024

Oatly has scored a landmark victory in the use of the word milk after the UK High Court ruled against the country’s dairy industry and permitted the term to be used on packaging.

Read more 
Chobani expands drink presence with La Colombe acquisition

Chobani expands drink presence with La Colombe acquisition

16 Jan 2024

Greek yoghurt giant Chobani has purchased US coffee brand La Colombe Coffee Roasters for $900 million, furthering its expansion into beverage categories like coffee, oat milk, creamer and ready-to-drink offerings.

Read more 
PepsiCo to reshape convenient foods portfolio with less sodium and more plant proteins

PepsiCo to reshape convenient foods portfolio with less sodium and more plant proteins

10 Jan 2024

PepsiCo has revealed details of two nutrition goals that look to reduce sodium and boost consumption of legumes, whole grains, and plant-based proteins as part of the multinational’s expanded convenient foods portfolio.

Read more 
Meet the innovative ingredients showcased at Fi Europe’s New Product Zone

Meet the innovative ingredients showcased at Fi Europe’s New Product Zone

3 Jan 2024

The Food Ingredients category at Fi Europe’s New Product Zone featured 19 distinct and innovative products. From fermented delights to sustainable proteins, these ingredients are ready to make their mark in the market.

Read more 
Fi Europe’s New Product Zone elevates the nutrition of everyday indulgences

Fi Europe’s New Product Zone elevates the nutrition of everyday indulgences

22 Dec 2023

At Fi Europe 2023's New Product Zone, eight health ingredients, each offering an enhanced nutritional profile of various products, were on display. These ingredients address the evolving needs of the food and beverage industry and cater to consumers se...

Read more 
MyAir plans to expand personalised adaptogen products to UK

MyAir plans to expand personalised adaptogen products to UK

15 Dec 2023

After launches in Japan and the US, B2B personalised nutrition company MyAir is eyeing the UK market with its white-label functional food and drink products. “Taste is a must – but it's not enough,” says its CEO. “Food has become functional and persona...

Read more 
Augmented technology is the gateway to new food experiences

Augmented technology is the gateway to new food experiences

13 Dec 2023

Harnessing augmented reality as a digital tool could offer consumers increasingly personalised food and beverage experiences, opening up new ways to see and taste products, according to a report by Canvas8 and Givaudan.

Read more 
Colombia introduces tax on ultra-processed foods

Colombia introduces tax on ultra-processed foods

7 Dec 2023

In a bid to curb rates of obesity and other non-communicable disease, the Colombian government has introduced a tax on various ultra-processed food (UPF) and drink products.

Read more 
Snack trends, ingredient claims, and plant-based perceptions: Highlights from Fi Europe 2023, part 1

Snack trends, ingredient claims, and plant-based perceptions: Highlights from Fi Europe 2023, part 1

7 Dec 2023

Value-led snacking, sustainability storytelling, and the importance of having a ‘star ingredient’: we asked consumer analysts and market experts at Fi Europe about the trends and innovations that are shaping the food industry.

Read more 
Consumers want more plant-based meat without GM ingredients

Consumers want more plant-based meat without GM ingredients

28 Nov 2023

Plant-based meat has been a hot and popular category for several years, but not all North American shoppers are embracing vegetarian alternatives that contain genetically modified (GM) ingredients, according to the Non-GMO Project.

Read more