Symrise Releases Second Quarter Results With Solid Growth
In a report detailing its 2017 second quarter results,
Symrise AG has announced an increase in sales by
3.6%, or 5.2% based on exchange rate adjustments.
Demand, Earnings and Financials
Among the reasons for growth, Symrise has seen an
increase in demand, along with strong financials and
earnings. Latin America and EAME regions grew 12%,
where North America grew by 2% and Asia/Pacific
regions by 1%.
For the first six months, Symrise saw earnings
amount to e322.9 million, before interest, taxes and
depreciation and amortization. Additionally, operating cash flow saw a 75% increase to e175 million due
to an improved capital management system and high
Fragrance and Flavor Segments
Symrise saw a slight decrease in the scent and care
segment, which was largely attributed to the sale of
Pinova’s industrial activities at the end of 2016. This
also impacted the EBITDA in the first half of 2017.
EBITDA was reported at e128.4 million, opposed to
e140.1 million in the first half of 2016.
Despite the decrease in the scent and care segment,
Symrise saw strong growth in its flavor segment, which
saw sales increase by 7.2%. Strong demand for sweets,
an increase in order intake for savory applications and
new business in the beverage sector were among the
driving forces for growing the flavor segment.
Finishing 2017 Strong
With these second quarter results, Symrise is now
looking ahead to finish 2017 off strong with recent
investment project and increasing its guidance for
the EBITDA margin.
“The strong growth results from our unique positioning,” said Heinz-Jürgen Bertram, CEO of Symrise
AG. “The targeted and continuous investments in
our competencies and capacity are paying off. We
see this as a confirmation of our strategy. With the
recent acquisition of Cobell, we are strengthening our
position in the lucrative U.K. beverage market, which
promises additional sales potential for our innovative applications. We are in an excellent position to
meet the rising demand for our products and to stay
on track for growth in the second half of this year.
Our goals are unchanged: We want to remain one of
the fastest-growing companies in the industry and to
operate highly profitable.”
October 5— The Fragrance Forum Masterclass;
New York, NY; www.fragrance.org
October 12— WFFC 35th Annual Gala; Woodland Park,
October 23–25—FEMA 47th Fall Symposium;
New Brunswick, NJ; www.femaflavor.org/events
October 24–26—Flavorcon; Rosemont, IL;
October 26–29—NAFFS 100th Annual Convention; TBA;
October 31–November 2—2017 Chem Show | The
Event for Processing Technology; New York, NY;
More events are posted at www.PerfumerFlavorist.com/events. Filter events by topic and region; submit event announcements;
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November 1—Circle of Champions; New York, NY;
November 14—Pôle Parfums, Arômes, Senteurs et Saveurs
(PASS); Grasse, France; www.pole-pass.fr/accueil.html
November 15— WFFC Fall Seminar; Saddlebrook, NJ;
November 28–30—Fi Europe; Messe Frankfurt, Germany;
June 5–7—World Perfumery Congress; Palais des Congres
Nice Acropolis, Nice, France; wpc.perfumerflavorist.com
February 4–7—International Spice Conference; Crowne Plaza,
Jaipur, Rajasthan, India; www.internationalspiceconference.com