Fragrance, flavour and cosmetic ingredient supplier Symrise has surpassed its financial targets for 2014 – and topped the €2bn sales mark for the first time.
Sales grew by a hefty 18% at local currency rates to €2.12bn, while EBITDAN shot up 24% to €464.5m. Net income increased 23% to €211.6m, and dividends grew to €0.75 per share.
Symrise is said to have benefited from ‘good demand’ in all of its regions and in both segments – Scent & Care and Flavour & Nutrition – as well as a particularly strong performance in Q4.
Dr Heinz-Jürgen Bertram, CEO of Symrise, said: "2014 was a very successful year for Symrise. We considerably expanded our market position in mature and emerging markets, and significantly broadened our portfolio of natural ingredients through the acquisition of Diana. But, most importantly, we once more created value and substantially increased sales, earnings and profitability. As a result, we are in an excellent position, both strategically and financially, to continue our profitable growth in 2015 and to outperform the market again."
Looking ahead, the company said it expects to benefit from ‘solid customer demand’ and ‘high capacity utilisation’ in both segments, and across mature and emerging markets. For 2015, Symrise said it remains committed to its goal of growing faster than the market for fragrances and flavours, which is growing at a rate of 2-3% per year. It aims to achieve an EBITDA margin of more than 20% for the group.