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Posted: April 30, 2008Symrise AG reported a 2% sales increase to €338 million in the first quarter of 2008. Adjusted earnings per share were up 15.4%. The flavor and nutrition division posted a sales increase of 5.6% to €158.2 million. The company's scent and care division sales were 3.7% higher in the quarter at €179.8 million, though sales decreased by 0.9% at actual exchange rates.
“In view of our presence in the fast-growing regions of the world and our concentration on selected market segments that are growing rapidly, we continue to be confident that our business will grow disproportionately fast," said Gerold Linzbach, CEO, Symrise. "We are therefore confirming the forecasts we made in our 2007 annual report, i.e. sales growth of 5-6% and EBITA growth of 10% on a local currency basis. It is difficult to predict how exchange rates will develop in future and what impact this will have on the results we report. The relative stability of the Euro in recent weeks is certainly a positive sign in this context."
For an extended report and a key financials graph, click here.