Symrise holds its ground in first half of 2009
Symrise AG has announced relatively stable results for the first half of 2009 despite a persistently difficult market environment. Sales rose from €676m to €685.1m in the six months, an increase of 1% (a decrease of 1% in local currencies). The company’s scent & care business experienced first half sales of €343.6m, compared to €342.7m the previous year, with a strong performance from its life essentials sub-division compensating for subdued sales in personal care and fine fragrances.
Symrise AG has announced relatively stable results for the first half of 2009 despite a persistently difficult market environment. Sales rose from €676m to €685.1m in the six months, an increase of 1% (a decrease of 1% in local currencies). The company’s scent & care business experienced first half sales of €343.6m, compared to €342.7m the previous year, with a strong performance from its life essentials sub-division compensating for subdued sales in personal care and fine fragrances.
South America proved a lucrative market for Symrise, with sales growing 14%, while acquisitions in North America contributed to a 31% rise. The company’s biggest sales drop (10%) occurred in the EAME region.
“We implemented a number of restructuring measures in the first half of 2009 and are already beginning to see the first results,” said Symrise ceo Heinz-Jürgen Bertram. “However, the full effect of these measures will not be felt until the beginning of next year.”
Based on these results the company expects to perform better than overall market development for the full year, despite predicting that the flavour and fragrance market will shrink slightly in the second half of 2009.