Symrise reports encouraging first quarter growth for flavours and fragrances ranges
Flavours and fragrance group Symrise AG has reported an upturn in results for the first quarter, recording sales up 14.9% year-on-year, to €1.09 billion, amid an increase in demand across its portfolio, reports Neill Barston.
The business, which has delivered a number of solutions for the confectionery and bakery markets, enjoyed organic sales growth put at 8.3 % after the strong quarter in the previous year (10.5 %). A good business dynamic in both segments contributed to this development.
“At the start of the year, Symrise has seamlessly continued the positive business trajectory of the prior year. The ordering behavior of our customers clearly indicates that consumers have once again become more active with the reduction of many Coronavirus restrictions. This applies to travel and to areas like gastronomy and leisure. As a result, demand has increased for application areas such as sun protection and fine fragrances, as well as beverages and culinary products,” said Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG.
“As the year progresses, we will see an increased level of volatility in the business environment due to the war in Ukraine and the ongoing battle against the pandemic. Nevertheless, we expect reliable demand and are convinced that we are well positioned for the coming months. We are consistently implementing our growth initiatives and continue to target organic sales growth of 5 to 7 % with an expected EBITDA margin of around 21 % for the current fiscal year.”
