Symrise AG successfully continued its profitable growth course in the third quarter despite the global coronavirus pandemic. In an “economically challenging and heterogeneous market environment”, the Group increased its sales in the first nine months of 2020 by 5.9% to € 2.703 bn (9M 2019: € 2.551 bn). In organic terms – i.e. excluding the portfolio effect of ADF/IDF and currency translation effects – sales were up by 3.3% in the first nine months. According to the company, all segments contributed to this positive development and achieved organic sales growth.
"Thanks to our solid positioning, the broadly diversified product portfolio, and the commitment and flexibility of our employees, we were able to build on the previous months and further increase our sales, also during the global coronavirus pandemic. The shifts in consumer demand during the first six months of the year have continued during the third quarter. Product solutions for food as well as personal care and hygiene remained in high demand, while demand for luxury items such as fine fragrances was less," said Dr Heinz-Jürgen Bertram, CEO of Symrise AG. "We are overall confident that we will conclude this historically very special year with good growth."
For 2020, Symrise expects organic growth of 3 to 4% which would be above market growth. Estimates expect market growth of up to 3% in the current environment.