11.09.18
Symrise AG said all segments and regions contributed to sales gains in the third quarter and the year. Organic sales increased 8.8% in the first nine months of the year. Taking portfolio and exchange rate effects into account, sales in reporting currency were up 4.6% to $2.7 billion at current exchange rates. Based on the positive nine-month development, Symrise raises its sales objective, which had already been increased at mid-year. Symrise aims at outperforming market growth and at achieving organic sales growth of more than 8% in 2018.
"Symrise held its course extremely well in the third quarter, despite the headwinds from volatile exchange rates, raw material shortages and increased raw material prices. We fully utilized growth opportunities and reliably supplied our customers," said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG. "Based on our strong nine-month performance we are optimistic for the remaining weeks of the year and raised our sales guidance. We are committed to making 2018 yet another successful year for Symrise and its customers and will work with full dedication during the remaining weeks."
He noted that the company recently added additional capacity for cosmetic ingredients into its US operation, and opened a new production facility for natural food ingredients. We will continue to manufacture our products close to our customers which allows us to maintain a direct presence in key customer markets and to make best possible use of growth opportunities."
Once again, Latin America was the key growth driver at the regional level, with organic sales growth of 19.2%. In the third quarter, the region increased sales by 25.2%. In the Asia/Pacific region, sales grew 12.9% in the first nine months, followed by North America and EAME with growth rates of 5.7% and 5.5%, respectively. In emerging markets, sales increased 12.8%. These markets, which are characterized by dynamic growth, contributed 43% to total sales.
The scent & care segment, which includes applications for fragrances and cosmetic ingredients, reported a 7.4% increase in third quarter sales and a 4.0% increase for the nine months.
"Symrise held its course extremely well in the third quarter, despite the headwinds from volatile exchange rates, raw material shortages and increased raw material prices. We fully utilized growth opportunities and reliably supplied our customers," said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG. "Based on our strong nine-month performance we are optimistic for the remaining weeks of the year and raised our sales guidance. We are committed to making 2018 yet another successful year for Symrise and its customers and will work with full dedication during the remaining weeks."
He noted that the company recently added additional capacity for cosmetic ingredients into its US operation, and opened a new production facility for natural food ingredients. We will continue to manufacture our products close to our customers which allows us to maintain a direct presence in key customer markets and to make best possible use of growth opportunities."
Once again, Latin America was the key growth driver at the regional level, with organic sales growth of 19.2%. In the third quarter, the region increased sales by 25.2%. In the Asia/Pacific region, sales grew 12.9% in the first nine months, followed by North America and EAME with growth rates of 5.7% and 5.5%, respectively. In emerging markets, sales increased 12.8%. These markets, which are characterized by dynamic growth, contributed 43% to total sales.
The scent & care segment, which includes applications for fragrances and cosmetic ingredients, reported a 7.4% increase in third quarter sales and a 4.0% increase for the nine months.