BERLIN — Boosted by strong demand in both its key flavors and fragrances segments, Symrise AG reported that adjusted second-quarter net profit rose 9 percent to 71.2 million euros, or $80.4 million.
Sales for the Holzminden, Germany-based company, which also supplies cosmetic ingredients, increased 10 percent to 730.7 million euros, or $825.1 million, in the April-June period. Dollar figures are calculated at average exchange for the period to which they refer.
For the first half of 2016, adjusted net income increased 6 percent to 142 million euros, or $158.5 million. Adjusted earnings before interest, taxes, depreciation and amortization grew 8 percent to 323.3 million euros, or $360.8 million. The uptick totaled 14 percent in local currency terms. The EBITDA margin fell slightly to 22.1 percent.
Symrise recorded adjusted group sales for the six-month period of 1.46 billion euros, or $1.63 billion, a rise of 10 percent, or 16 percent in constant-currency terms.
Scent and care sales leapt 22 percent to 667.8 million, or $745.2 million. In local currency terms, the rise was 27 percent. The division’s performance was strengthened by the firm’s recent acquisition of natural ingredients company Pinova, which contributed revenues of 110 million euros, or $122.7 million, to the total in the first half of the year.
“With a clear goal in mind, we have implemented a number of strategic initiatives to diversify our portfolio,” said Symrise chief executive officer Heinz-Jürgen Bertram. “We have added to our competencies, both in the flavors and fragrances business, which we intend to leverage in order to further strengthen our status as a market leader.”
Symrise also reiterated its full fiscal year forecast on Thursday, saying it intended to outperform the global flavor and fragrance market, which is estimated to grow by 2-3 percent annually.