Symrise delighted as it exceeds 2010 fiscal targets
Group sales are up by 15.4% to €1.57bn
German flavours and fragrances company Symrise has announced that has exceeded its sales and earnings goals for 2010, as it saw group sales rise by 15.4% to €1.57bn, while its EBITDA margin also rose to 21.1% in the past year.
Symrise has put this success down to the global economic recovery and its excellent position in emerging markets, coupled with a strong boost in demand.
Symrise ceo, Dr Heinz-Jürgen Bertram comments: “We capitalised on the strong tailwind of the economic recovery and ran our utilisation at very high levels for the whole year. Besides continued strong growth in emerging markets, we benefited from a strong revival in demand in western Europe and other established markets.
“This resulted in record growth of over 15% with double-digit sales increases in all regions and in both divisions and, with an EBITDA margin of 21.1%, we have operated on a very profitable basis. We would like our shareholders to participate in this success and are proposing a 20% dividend increase to €0.60 per share.”
