BERLIN — First-quarter profits at Symrise AG rose 7 percent to 46 million euros, or $60.8 million, due to solid developments in emerging markets and strong performances in established ones, including those touched by the euro crisis, the company said.
"Once again, we enjoyed robust growth — growing faster than the market," said Heinz-Jürgen Bertram, Symrise's chief executive officer. "With the acquisition of the U.S. fragrance manufacturer Belmay, we took another strategic step towards further expanding our product portfolio and market presence in North America. We are therefore confident for the upcoming months of 2013.”
The Holzminden, Germany-based fragrance and flavors maker registered earnings before interest, taxes, depreciation and amortization (EBITDA) of 92.8 million euros, or $122.6 million, a rise of 6 percent. In local-currency terms EBITDA gained 7 percent. The quarterly EBITDA margin was on target at 20.3 percent, which was flat versus the same prior-year period.
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