BERLIN — In its first quarter of 2016, Symrise AG saw net profits increase by 4 percent to 70.8 million euros, or $78.1 million, driven by steady demand in both its segments and across all regions, the company said.
For the first time, Symrise’s figures also include Pinova, the American natural ingredients company it acquired in January.
Holzminden, Germany-based Symrise registered earnings before interest, taxes, depreciation and amortization amounting to 158.5 million euros, or $174.8 million, an uptick of 6 percent. In local currency terms, the increase stood at 13 percent. The figure is normalized for special items related to the acquisition of Pinova.
Company sales gained 10 percent in the three-month period to 731.8 million euros, or $807.1 million. Without Pinova, Symrise sales increased 2 percent to 678.3 million euros, or $748.1 million. Growth was strongest in North America, where sales were up 33 percent.
All dollar figures are calculated at average exchange rates for the three months ended March 31.
Robust sales of cosmetic ingredients and menthol drove revenues for Symrise’s scent and care division. They rose by 22 percent to 344.3 million euros, or $379.7 million, an increase of 26 percent in local currencies.
The fragrance, flavors and cosmetic ingredients supplier reaffirmed its forecast for 2016, saying that it expects to outperform the market’s estimated growth of 2-3 percent, and foresees an EBITDA margin of 20 percent.