BERLIN — Symrise AG’s first-quarter net profits jumped 31 percent to 68 million euros, or $76.2 million, driven by high demand in both its fragrance and flavors divisions.
The Holzminden, Germany-based supplier reported earnings before interest, taxes, depreciation and amortization (EBITDA) of 148.8 million euros, or $167.9 million, up 47 percent. In local-currency terms, the increase was 40 percent.
Company sales of 668 million euros, or $753.7 million, gained 42 percent on a reported basis and 33 percent in constant-currency terms. Symrise said the Diana nutrition division, created after the 2014 acquisition of the Diana Group, contributed significantly to sales growth.
Symrise’s scent and care division reported revenues of 282.8 million euros, or $319.1 million, an uptick of 11 percent. In local currencies, the rise was 3 percent.
Dollar figures are calculated at average exchange rates for the three months ended March 31.
Symrise confirmed its projection for 2015, saying it aims to grow faster than the global market and will achieve an EBITDA margin above 20 percent.