Symrise profit grows by 8% in H1 2012

Global flavours and fragrance manufacturer Symrise has reported a 8% increase in profit to €83.5m for the first half ended 30 June 2012, up from €77.4m during the same half in 2011.

The firm posted a revenue of €872m, an increase of 7.4% for the current half from €811.8m in the corresponding half of the previous year.

Symrise’s earnings before interest, tax and depreciation (EBITDA) has improved by 7% in the first half of the current year to €174m as against €163m for the same period in the earlier year.

Symrise CEO Heinz-Jürgen Bertram said the firm achieved an EBITDA margin of 20%, which is notable considering the impacts from high raw material and energy prices as well as costs for augmenting its new menthol plant.

"Although many questions remain surrounding the development of the eurozone, we expect further growth in the second half of the year. We are well-positioned internationally and enjoy a broad customer base. Additional growth is expected from our new menthol production plant which has been operating since the end of June. We therefore confirm our raised outlook from May and are aiming for sales growth at local currency between 3 % and 5 % for the full year," said Bertram.

The firm’s Scent and Care division sales increased by 9% to €444m for the first half of 2012, compared to €410m, which was primarily driven by Oral Care, Fragrances and Life Essentials, each of which posted double-digit growth rates.

According to the firm, Flavor and Nutrition division sales rose by 6% in the first half to €427m, an increase from €402m 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.