Fragrances, flavourings and functional ingredients company Symrise says that it was once again among the fastest-growing and most profitable companies in its sector in 2015. The group increased sales by 23% to €2,601.7.

Symrise continues rapid growth

Fragrances, flavourings and functional ingredients company Symrise says that it was once again among the fastest-growing and most profitable companies in its sector in 2015. The group increased sales by 23% (18% in local currency) to €2,601.7 million (2014: €2,120.1 million). EBITDA also showed strong growth and rose by 23% to €572.2 million (normalised EBITDA in 2014: €464.5 million). The EBITDA margin increased to 22.0% (2014 normalised: 21.9%).

"In 2015 it was our decisive goal to substantially grow our business,” said Dr. Heinz-Jürgen Bertram, CEO of Symrise. “We made targeted investments in growth and in expanding our competencies and know-how. Our portfolio clearly shows the benefits: It has expanded beyond our traditional product range and allows us to serve new, strategic business areas such as functional ingredients for everyday products. In 2015 we were once again one of the fastest-growing companies in our industry." He added, "A priority for us in 2016 is the cross-linking of our extensive expertise. In this way we will not only continue on track for success but also extend our competitive edge with a widely diversified portfolio."

Symrise says it benefited in the year under review from high capacity utilisation and strong demand in all regions. The Diana Group, which was acquired in mid-2014 and is now fully integrated, contributed sales of €524.8 million (2014: €233.9 million).

Flavor & Nutrition experienced a substantial 34% increase in sales (31% at local currency) and benefited in particular from strong demand for beverages and savoury applications.

Symrise said it expects the economic environment for the current fiscal year to be challenging. Ongoing political conflicts in certain regions, heavy debt burdens of some countries and the low oil price are weighing down the global economy. With its worldwide presence and its diversified portfolio, the group believes that it is very well positioned to continue its profitable growth course.

Symrise aims at outperforming the global F&F market in 2016, both at the group level and in both segments. The company notes that it has made a good start in the current fiscal year and will capitalise on growth opportunities in developed and emerging markets. Consequently, Symrise remains fully committed to the mid-term objectives extending to the end of 2020, namely a compound annual growth rate (CAGR) of 5–7% and an EBITDA margin of 19–22%.