Symrise reports strong sales in first half 2022 

Symrise reports strong sales in first half 2022 

THE WHAT? Symrise has reported a first half 2022 sales growth of 18.5 percent to €2.3 billion, with an organic growth of 10.2 percent.

THE DETAILS The Scent & Care segment achieved organic growth of 6.3 percent in the first half of 2022. Taking into account portfolio and exchange rate effects, sales in the first half of 2022 amounted to €863 million in the reporting currency.

The Fragrance division increased its sales by a single-digit percentage in the first half of 2022, with the Fine Fragrances business unit continuing to develop particularly dynamically, achieving double-digit percentage organic growth following a strong previous year.

Sales in the Cosmetic Ingredients division developed well, achieving organic growth in the double-digit percentage range. All regions posted significant increases in sales, led by EAME (Europe, Africa, Middle East) and Latin America.

Symrise raised forecasts for the 2022 fiscal year, stating it is, “targeting organic sales growth of significantly above 7 percent in 2022.”

THE WHY? According to Symrise, “The acquisition of the Fragrance and Aroma Chemicals business of Sensient, the acquisitions of Giraffe, Schaffelaarbos, Groupe Néroli and Romani, and the sale of the Velcorin and color business exerted a positive impact on sales development totaling €59 million. Excluding portfolio and exchange rate effects, organic sales growth amounted to 10.2 percent.”

Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG, said, “In a volatile business environment caused by rising commodity prices, ongoing global supply bottlenecks and the Russia-Ukraine war, we managed to continue on our profitable growth course. 

“We achieved this by relying on our robust business model, diversified application portfolio and broad regional presence and customer base. Demand increased significantly in many areas. Customers have particularly increased their demand for applications for cosmetics, fine fragrances and pet food. Solutions for beverages and food have also performed very well and considerably contributed to the double-digit organic growth.”

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