BERLIN — Symrise AG posted third-quarter net profits of 40 million euros, or $56.6 million, up 4.2 percent versus the same period a year ago.
Revenues at the Holzminden, Germany-based fragrance and flavors maker dipped 3.8 percent to 394.5 million euros, or $558.4 million, in the three months ended Sept. 30.
Sales at Symrise’s scent and care division fell 4.6 percent to 200.2 million euros, or $283.4 million.
Dollar figures are converted from euros at average exchange rates for the period to which they refer.
“The market dynamics have continued to slow in the third quarter due to weaker economic prospects and continuing tension on the raw material and foreign exchange markets,” stated Heinz-Jürgen Bertram, Symrise’s chief executive officer.
In the first nine months of the year, Symrise’s net profits were 117.4 million euros, or $165.2 million, down 7.8 percent. Company sales during the period edged down 0.1 percent to 1.21 billion euros, or $1.7 billion. In local currency, revenues increased 2 percent.
Nine-month sales for Symrise’s scent and care division declined 1.9 percent to 609.7 million euros, or $857.9 million.
Symrise confirmed its goal of achieving an EBITDA margin of 20 percent for the full fiscal year and said it aims to increase group sales by approximately 2 percent to 3 percent in local currency.