Dive Brief:
- For the first nine months of 2015, Symrise AG had sales of €1.98 billion ($2.13 billion), up 29% from the nine-month period in 2014. Net income increased to €199.3 million ($214 million) from last year's €175.9 million ($189 million). With an EBITDA margin of 22.7%, Symrise is one of the most profitable companies in the industry.
- Symrise's Flavor & Nutrition segment had sales of €1.16 billion ($1.25 billion), up 47% from the first nine months of 2014, and saw an EBITDA increase of 50%. The Diana Group, purchased in July 2014, contributed strongly to those sales. Factors supporting the strong performance were new North American business and sturdy culinary and beverage applications demand.
- Symrise expects to surpass the growth rate for the industry as a whole and have an EBITDA margin of more than 20% for full-year 2015. "Despite political tensions in some regions and a recent economic slowdown in some emerging countries such as China, the company expects demand to remain strong."
Dive Insight:
Sales of more than €2.1 billion ($2.26 billion) in 2014 made Symrise one of the top three global flavors and fragrances companies, according to a news release.
Symrise is again adding to its flavor portfolio by acquiring Pinova Holdings, a Georgia-based manufacturer of beverage, oral care, and fragrance ingredients.
