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Symrise 2007 Results; Acquisition
Posted: March 6, 2008Symrise reported full-year 2007 sales of €1,274.5 million, an increase of 3.7% from 2006. The scent and care division increased it sales in local currencies by 6.5% to €671.3 million. The positive results were driven, to a large extent, by cosmetics (+10.6%) and mint (+12.6%). In fine fragrances, the company maintained a local currency growth rate of 8.5%. The company expects to achieve average sales growth of 5–6% per year in 2008 and 2009.
“We are present in the fast-growing international regions around the world, and will be covering the North American market even better in the future than has been the case in the past," said Gerold Linzbach, chairman of the management board, Symrise. "All of this gives us the confidence that our sales growth will again be considerably higher than overall industry growth in 2008.”
In addition, Symrise has signed an agreement to take over the flavor business from the Danish supplier Chr. Hansen, Symrise’s largest acquisition to date. The acquisition will, according to a press release, strengthen Symrise’s presence in the North American market since Chr. Hansen generates a substantial majority of its flavor sales in the United States. Pending regulatory approval in the U.S. and Germany, the acquisition should be completed before the end of April.