Rapid growth put down to high capacity utilisation and strong demand in all regions
Active ingredients supplier Symrise saw group sales shoot up 23% to €2.6bn in 2015, the company has announced.
Strong growth was observed across all regions, with emerging markets proving to be of particular value; in emerging markets, Symrise increased sales by 21 % in local currency terms and generated 46% of total sales (versus 47% in 2014).
In the Scent & Care arm of the business, sales totalled €1073.7m, up 10% from the €980.4m generated in 2014. A strong demand for menthol and cosmetic active ingredients were said to have benefited Symrise’s sales figures, although all division contributed towards the final amount.
Scent & Care EBITDA grew by 4% to €231.2m, with the margin coming in at 21.5%. Symrise noted that in January of this year it acquired US-based Pinova Holdings, a takeover that has led to greater access to natural ingredients for use in fragrance. Meanwhile, the company has expanded its forward integration in menthol to include cooling substances for oral care. Symrise’s Falvour & Nutrition segment also performed well with sales growing 34%.
Dr Heinz-Jürgen Bertram, CEO of Symrise, said: "In 2015 it was our decisive goal to substantially grow our business. We made targeted investments in growth and in expanding our competencies and know-how. Our portfolio clearly shows the benefits: It has expanded beyond our traditional product range and allows us to serve new, strategic business areas such as functional ingredients for everyday products. In 2015 we were once again one of the fastest-growing companies in our industry." He added: "A priority for us in 2016 is the cross-linking of our extensive expertise. In this way we will not only continue on track for success but also extend our competitive edge with a widely diversified portfolio."