FDBusiness.com

Symrise enters second half 2010 backed by strong earnings and profitability growth

 Breaking News
  • Firmenich Launches Advanced Natural Flavour Solutions For High Protein Beverages Firmenich, the world’s largest privately-owned company in the flavour and fragrance industry, has officially launched its Protein Shield Flavors, a new line of natural flavour solutions aimed to help developers address the challenges they face when creating beverage products with high protein content. “These natural solutions confirm Firmenich’s deep commitment to advancing health and wellness,” says Chris [...]...
  • JDE Invests Heavily in Kenco Coffee Company Rebrand Jacobs Douwe Egberts (JDE) Professional has unveiled a fresh, new brand positioning for Kenco The Coffee Company, complete with a bold new logo and pack design. The new design brings to life the heritage, passion and expertise behind the well-loved brand, helping to further boost value and volume growth across the sector. The Kenco brand is [...]...
  • ABP Food Group in £22 Million Renewable Energy Project A £22 million investment by ABP Food Group’s renewable division in a green energy plant will produce enough sustainable energy to power the equivalent of 12,000 homes. ABP’s renewables division, Olleco, has just opened the new 15 MW Anaerobic Digestion facility in Aylesbury, Buckinghamshire. The ABP Food Group facility is located adjacent to the Arla dairy, [...]...
  • How Steel Packaging Contributes to Saving Food A new film from APEAL, the Association of European Producers of Steel for Packaging, has been launched to highlight the unique preservation qualities of steel packaging. Having recently welcomed the European Parliament’s (EP) initiative report – Resource efficiency: reducing food waste, improving food safety – APEAL is increasing its own efforts to drive improvements in managing food waste [...]...
  • New Website Brings Easy Access to Food Processing Equipment Interfood Technology has launched a new website to provide an easy-to-use resource for sourcing the latest in food technology and processing equipment. The site has been introduced to coincide with the company’s relocation to new, larger premises and marks another significant investment in Interfood’s development. The main reasons behind the complete revamp from the company’s previous [...]...

Symrise enters second half 2010 backed by strong earnings and profitability growth

Symrise enters second half 2010 backed by strong earnings and profitability growth
August 19
14:38 2010

Symrise AG looks back on a successful first half with significantly higher sales and profitability. In the first six months of the Fiscal Year 2010, Group sales rose 16.4 %, or 13.9 % at local currency. Symrise benefited in particular from the global economic recovery, an increase in new orders, the innovative products in the portfolio as well as the dynamic growth of the business in the emerging markets. Group EBITDA rose 50 % to € 177.7 million. This was matched by a robust EBITDA margin of 22.3 %, up sharply on the 17.3 % reported in the previous year. The increased net sales, ongoing cost discipline and the high capacity utilization of its production facilities significantly supported the rise in profitability. Based on its development in the first six months, Symrise specifies its forecast for the full year by expecting 2010 sales growth of at least 8 % at local currency. In addition, Symrise continues to aim for an EBITDA margin of more than 20 %.

Heinz-Jürgen Bertram

Dr. Heinz-Jürgen Bertram, Chief Executive of Symrise AG, said “We successfully capitalized on the economic recovery and enjoyed above-average growth in the first half of 2010. Our customers’ order patterns have normalized again compared to 2009 and we were in particular able to expand our business with our key customers. Our regional diversification and our special focus on emerging markets are also paying off: we’ve seen considerable growth in all regions and are meanwhile generating 46 % of sales in emerging markets alone.”

“The encouraging developments of the first six months have given us cause for optimism for the second half of 2010. At the same time, we continue to keep an eye on market developments. We aim to grow faster than the market as a whole and are currently forecasting at least 8 % sales growth at local currency. “We will also continue to vigorously implement our core strategic goals: We will further sharpen our profile, while particularly focusing on the two application areas Life Essentials and Consumer Health.”

Based on the strong growth in the first six months Symrise enters the second half of the year with optimism: the Group is expecting further growth, albeit somewhat less dynamic than in the first half due to the higher reference values and the generally more moderate economic development. For 2010, Symrise aims to grow faster than the market again and expects sales growth at local currency of at least 8 %. Under the assumption that raw material prices for 2010 will remain at last year’s levels, the Management Board also emphasizes its goal of attaining an EBITDA margin of over 20.0 %.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 19, 2017PMA Fresh Summit 2017
  • October 21, 2017Food & Nutrition Conference & Expo 2017
  • October 22, 2017Serbotel
  • October 22, 2017Natexpo
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements