Symrise’s targeted strategy pays off in Q1 2017

The specialty chemicals company saw sales grow 4.6% to €765.2m in the first three months of the year

Fragrance and cosmetics ingredients company Symrise saw group sales grow 4.6% to €765.2m in Q1 2017.

The company’s CEO Dr. Heinz-Jürgen Bertram said that Symrise’s strategy of targeted investments, customer relationship development and efforts to build market presence “continued to pay off”.

“There is therefore every reason to feel confident as we look forward to the coming months. We plan to continue pushing ahead with our growth initiatives and to keep expanding our market position.

“For 2017 we are planning a number of projects. These will include gaining broad access to natural, sustainable raw materials and the expansion of our capacities in Holzminden as well as internationally.”

In the Scent & Care business segment, Symrise generated sales of €333.2m. This was down 3.2% compared with Q1 2016, impacted by the sales of Pinova Inc in December 2016.

After adjustment for the Pinova portfolio, the Aroma Molecules division posted the strongest sales growth in Scent & Care with fragrance ingredients and menthol driving business.

Meanwhile, Fine Fragrances, part of the broader Fragrances division, saw double-digit growth in Asia; Symrise described growth in Latin America and EAME as “satisfactory”.

The company also experienced moderate growth in EAME with fragrance compositions for Beauty Care.

Sun protection product demand was down in Q1 2017, however, this trend was offset by growth in cosmetic ingredients sales.

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Symrise (more information, website)