Symrise sales grow 42%

7 May 2015

Symrise has announced that its fiscal year 2015 got off to a “good start” with its positive performance continuing from the previous year, with significantly increased sales and net income in the first three months. Key driver for this favourable development was, said the company, apart from the Diana acquisition in mid-2014, the sustained high […]

Symrise sales grow 42%

rising-sales-graph-hand-white-chalk-drawing-bar-blackboard-44411809Symrise has announced that its fiscal year 2015 got off to a “good start” with its positive performance continuing from the previous year, with significantly increased sales and net income in the first three months. Key driver for this favourable development was, said the company, apart from the Diana acquisition in mid-2014, the sustained high demand in both segments. Symrise increased sales by 42% to €668.0 million in the first quarter (Q1 2014: €469.6 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) were up by 47% to €148.8 million (Q1 2014: €101.0 million). With an EBITDA margin of 22.3%, Symrise managed to improve its profitability compared to the same quarter last year (21.5%) at a high level. Net income for the period also developed positively and increased by 31% to €68.0 million (Q1 2014: €51.9 million).

“We had an excellent start into the year,” said Dr. Heinz-Jürgen Bertram, CEO of Symrise. “The strong growth across all segments and regions shows that we are ideally positioned with our clear strategy and unique set-up. Diana has more than fulfilled our expectations following its integration. But Symrise also achieved new records in terms of growth and profitability with its existing customer base. Despite uncertainties in individual markets, we remain confident for the coming quarters.”

Symrise confirmed its goals for the fiscal year 2015. The group is again aiming to grow faster than the global market for fragrances and flavours in 2015 and to achieve an EBITDA margin greater than 20%. Symrise said it expects the current fiscal year to maintain its currently solid demand dynamics across every region and in both segments. Against this backdrop, Symrise is also confirming the group’s medium-term targets.