BERLIN — Symrise’s 2009 net profits dropped 6.7 percent to 84.3 million euros, or $117.6 million.
This story first appeared in the March 5, 2010 issue of WWD. Subscribe Today.
Earnings before interest, taxes, depreciation and amortization, adjusted for restructuring expenses for the Holzminden, Germany-based fragrance and flavors maker were 265.4 million euros, or $370.1 million, up 1.1 percent on-year.
Sales rose 3.2 percent to 1.36 billion euros, or $1.9 billion, in the period. At local currency, revenues increased 2.7 percent.
Dollar figures are converted at average exchange rates.
Symrise’s scent and care division’s sales were 682.3 million euros, or $951.6 million, up 1.6 percent. At local currency, they gained 1 percent.
The company noted an uptick in business during the second half of 2009 and the positive effects restructuring had on costs.
“We anticipate that Symrise will again exceed market growth and generate an EBITDA margin of at least 20 percent in the current financial year,” stated Heinz-Jürgen Bertram, Symrise chief executive officer.