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Symrise Results Benefit from Second-half 2009 Improvements
Posted: March 15, 2010
Symrise has reported 2009 sales of €1,362 million, a rise of 3.2%, year-over-year, powered by growing business in the year's second half and restructuring activities. Meanwhile, emerging market revenue jumped 4.5% for the period, increasing its contribution to total sales to 41%. Sales in South America grew 17% and 8% in Asia-Pacific. Sales in North America grew 14%, powered by acquisitions, while destocking in Europe-Africa-Middle East (EAME) led to a 4% drop in sales. Symrise notes that the second half of the year generally witnessed an improvement in sales, in addition to an overall 4.4% sales gain with core list customers. These large global customers now account for 29% of sales.
Symrise's scent and care division, powered by second-half sales gains, grew 2009 sales by 1.6 % to €682.3 million. Personal care and oral care results offset weakness in luxury personal care and fine fragrance. Growth in emerging markets (5% for the year) was notable, led by South America, which has witnessed gains in luxury fine fragrances. Acquisitions made in 2008 boosted North American results. Asia-Pacific grew while EAME was weak.
The complete results are available here.