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Symrise Net Gains 13% in Q1

The German fragrances and flavors reported revenue growth of 2.6 percent.

BERLIN — First-quarter net profits for Symrise AG rose 13 percent to 51.9 million euros, or $71.1 million, boosted by high demand in both its fragrance and flavors divisions, particularly in Latin America.

The Holzminden, Germany-based firm registered earnings before interest, taxes, depreciation and amortization (EBITDA) of 101 million euros, or $138.4 million, an uptick of 9 percent, or 12 percent in local currency terms.

Revenues grew to 469.6 million euros or $643.4 million, an increase of 2.6 percent. Stripping out the impact of currency fluctuations, sales rose by 7.9 percent.

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Dollar figures are calculated at average exchange rates for the three months ended March 31.

Revenues for Symrise’s scent and care division rose 3.9 percent to 254.6 million euros, or $348.9 million. 

The company confirmed its 2014 target to outperform the market with sales growth of between 2 and 3 percent and an EBITDA margin above 20 percent.