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  09/11/2017 | Ingredients

Symrise continues growth track at accelerated pace

Symrise AG accelerated its growth course in the third quarter, achieving overall a considerable increase in sales and earnings for the nine-month period. This positive trend was driven by strong demand across all segments. Symrise increased its sales organically by 6.5% in the first nine months of the year. Organic growth was particularly dynamic in the third quarter with a plus of 9.1%. Taking into account portfolio and exchange rate effects, sales in the first nine months of the year were up 3.9% to € 2.278 bn (9 M 2016: € 2.192 bn). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 485.2 m (EBITDAN 9 M 2016: € 480.3 m). With an EBITDA margin of 213 %, profitability remained high (EBITDAN margin 9 M 2016: 21.9%).

“We continued our growth initiatives in the third quarter, which led to a successfully expanded market position,” said Dr Heinz-Jürgen Bertram, CEO of Symrise AG. “We consider the strong sales growth as a result of our unique positioning. The targeted investments into the product portfolio, research and development and new markets support our strategy. We are confidently looking ahead to the remaining weeks of the year. Our guidance for 2017 remains in place and we also confirm our long-term targets. We are committed to continue as one of the fastest-growing companies in the industry and to operate highly profitable.”