PARIS — Flavors and fragrance maker Symrise reported Tuesday its sales for the first half of this year rose 2.3 percent, versus the first half 2007, to 676 million euros, or $1.03 billion at average exchange, thanks to high growth rates in emerging markets.
In local currencies, the revenue gain was 6.7 percent for the German firm, which is based in both Holzminden and Frankfurt.
Symrise’s earnings before interest, tax and amortization in the period were flat at 123.6 million euros, or $189.2 million. On a local currency basis, they increased 6 percent.
Net profits for the firm rose 16 percent to 60.8 million euros, or $93.1 million.
Symrise’s scent and care division posted moderate sales gains of 2.5 percent in local currencies to 342.7 million euros, or $524.5 million. The firm said “luxury segments,” such as fine fragrance and parts of personal care, had to contend with lower demand.
“In order to compensate for the increased raw material and energy costs and in order to protect our margins going forward, the division announced selective price increases of 10 percent and more in early July,” stated Symrise.
The company expects a full-year 2008 sales increase of 6 to 7 percent and EBITA gains of 6 percent, both in local currencies.
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