Symrise starts fiscal year with robust sales growth

Symrise AG has enjoyed a strong start to the 2012 fiscal year. The Group posted robust sales growth and achieved the targeted EBITDA margin of 20% despite higher raw material brightening costs. Over the course of the quarter, Symrise benefited from improving market conditions and as a result saw a stronger demand for its products. Compared to the prior-year quarter sales rose 4% to € 432.6 m (Q1 2011: € 416.8 m). According to the company, this development was driven in large part by the disproportionate growth seen in business with global customers. North and Latin America also provided notable growth impetus.

Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG, said: “Symrise is off to a solid start for the current fiscal year. After the subdued development at the beginning of this year, the market environment improved faster than originally anticipated. Our business with global customers has grown especially rapid. In addition, we maintained our profitability at our targeted margin level of 20% despite high raw material costs. We also expanded our market presence with targeted acquisitions and strengthened our focus on innovation in fast growing market segments. In view of the positive developments seen in this quarter, we are raising our sales outlook for the current financial year.”

www.symrise.com