Symrise sales rise by 14% in Q3 2012

Flavours and fragrance manufacturer Symrise has reported a 13.7% increase in sales to €448m for the third quarter ended 30 September 2012, up from €394m during the quarter in 2011.

The firm’s net income in the third quarter was € 42.3m, an increase of 6% from €39.9m in the corresponding quarter of the previous year.

Symrise’s earnings before interest and tax (EBIT) in the third quarter of the current year grew €69.3m as against €61.3m for the same period in the earlier year.

Symrise CEO Heinz-Jürgen Bertram said the firm achieved respectable increases in sales and earnings across the group in the first nine months of the year, which was primarily driven by the emerging markets that 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. 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, " said Bertram.

The firm’s sales for the third quarter of 2012 in the Scent and Care division increased to €226m, compared to €200m for the same period in 2011.

According to the firm, Flavour and Nutrition division sales in the third quarter rose to €221m, compared to €194m in the corresponding period of the previous year.

Symrise is a Germany-based flavours and fragrance manufacturer, whose portfolio includes fine fragrances, personal care, fabric care, life essentials, aroma molecules and oral care cooling compounds.