11.07.12
In the third quarter, Symrise AG successfully built on its dynamic performance from the first half of the year, according to the company. In the first nine months of 2012, the group generated sales of $1.7 billion (€ 1.3 billion), exceeding the previous year’s figure by 9%. Both divisions provided strong impetus for growth.
Symrise experienced above-average growth in the emerging markets, with Latin America performing particularly well. The group also recorded considerable sales increases in Asia and North America. Symrise remained highly profitable despite high raw materials prices and start-up costs for its new menthol production plant, it said. Overall, emerging markets accounted for 48% of sales in the report, said CEO Dr. Heinz-Jürgen Bertram.
“We achieved considerable increases in sales and earnings throughout the group in the first nine months of this year. The emerging markets provided particularly strong impetus for growth and accounted for 48% of sales for the very first time. In terms of earnings, we coped well with a number of anticipated one-off expenses,” he said. “For the remaining weeks of 2012, we continue to remain confident, although the sovereign debt crisis is having a growing impact on both, the European and also the global economy. However, with our balanced portfolio of customer groups and products, as well as our regional presence, we are, in an excellent position to make good progress even during economically weaker phases. We therefore confirm our targets for the fiscal year of 2012. We will continue to pursue our strategy which aims at sustainable, profitable growth.”
The Scent & Care division posted sales of $858,6 million (€ 671 million) for the first nine months.
Scent & Care particularly continued rapid growth in the Life Essentials, Oral Care and Fine Fragrances application areas. Latin America was by far the strongest region, realizing a 32% sales increase at local currency. North America was the second strongest region, generating a sales growth of 9% at local currency. Business with global customers was primarily responsible for driving this growth. Sales in Asia/Pacific rose by 7% compared to the prior year period. This growth was mainly driven by high demand in household, oral care and cosmetic ingredients.