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.
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.