Symrise posts 16.4% sales growth for first nine months
Emerging markets account for impressive 46% share
German fragrance and flavour company Symrise has announced a 16.4% sales growth for the first nine months, with emerging markets accounting for an impressive 46% share of these sales.
The company has seen renewed consumer confidence in the past year as it continues to benefit from economic recovery in the third quarter. During the first nine months of this year Symrise has seen its EBITDA (earnings before interest, taxes and depreciation) rise by a huge 40% to €267.7m while the EBITDA margin also grew from 18.4% to 22.2%.
Symrise ceo, Dr Heinz-Jürgen Bertram, comments on the positive results: “During the first nine months of 2010 Symrise has achieved double-digit growth in both the flavours and fragrances divisions in all regions. Our broad international presence and firm foothold in emerging markets have paid off once again.
“The Scent & Care division in particular has benefited from increased demand in the luxury segment and in view of the excellent development of business during the first nine months we are confident that Symrise will achieve its goals set for the full year.”