In the first six months of the fiscal year 2010, group sales rose 16.4%, or 13.9% at local currency. Symrise benefited in particular from the global economic recovery, an increase in new orders, the innovative products in the portfolio as well as the dynamic growth of the business in the emerging markets.
Group Ebitda rose 50% to €177.7m. This was matched by a robust Ebitda margin of 22.3%, up sharply on the 17.3% reported in the previous year. The increased net sales, ongoing cost discipline and the high capacity utilisation of its production facilities significantly supported the rise in profitability.
Based on its development in the first six months, Symrise specifies its forecast for the full year by expecting 2010 sales growth of at least 8% at local currency. In addition, Symrise continues to aim for an Ebitda margin of more than 20%.
Dr Heinz-Jürgen Bertram, chief executive of Symrise AG, said: “We successfully capitalised on the economic recovery and enjoyed above-average growth in the first half of 2010. Our customers’ order patterns have normalised again compared to 2009 and we were in particular able to expand our business with our key customers. Our regional diversification and our special focus on emerging markets are also paying off: we’ve seen considerable growth in all regions and are meanwhile generating 46% of sales in emerging markets alone.”
Source: Symrise
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