Symrise, a leading supplier of flavorings, fragrances, functional ingredients and cosmetic base materials and substances, has reported strong sales and earnings growth in 2016. The Holzminden/Germany based company, increased its group sales by 12 % to € 2,903 million ($ 3,117 million because of strong demand across all segments and regions. Organic sales growth in local currency amounted to 8 %, far ahead of the total market for flavors and fragrances, which grew around 3 % for 2016.
Market leader in the fragrance and flavour industry is Swiss company Givaudan, followed by Symrise (Germany), IFF (USA) and Firmenich (Switzerland), which are all almost on par.
In 2016, Symrise established a three-segment structure and two new members were appointed to the executive board. Heinrich Schaper (President Flavors) and Dr. Jean-Yves Parisot (President Diana) completed the new executive board with its existing members Dr. Heinz-Jürgen Bertram (CEO, President Flavor & Nutrition), Olaf Klinger (CFO) and Achim Daub (President Scent & Care),
The activities of the former Flavor & Nutrition segment were split into two separate segments.
The Flavor segment includes applications for beverages, savory products, and sweets. The Nutrition segmentcomprises the Diana division with the application areas of food, pet food, Aqua and Probi. Scent & Care segment continues to combine the areas of fragrances, cosmetic ingredients and aroma molecules.
"Our goal is and will remain to be one of the fastest growing and most profitable companies in our industry," said CEO Heinz-Jürgen Bertram on Tuesday in Frankfurt/Germany. “For 2017, we remain optimistic despite political changes and tensions in some countries," he added.
With a further increased presence in emerging markets like in Latin America, and intensified cooperative activities with strategic customers in those markets, Symrise aims to substantially outperform the relevant market, where growth of around 3 % is forecasted. Moreover, the company intends to remain highly profitable with an EBITDA margin of around 20 %.