Symrise reports 3% sales growth

Symrise AG increased sales and maintained profitability at a high level in the first half of 2011.

The group increased sales by 3% at local currency despite the strong comparables from the previous year; it benefited from business with major customers and emerging markets.

However, the market environment turned gloomy in certain segments and regions in the second quarter.

Earnings were affected by high raw material costs and negative currency effects.

Nonetheless Symrise achieved an EBITDA margin of 20%, with primary contributors being persistent cost management and divestment of less profitable businesses.

Sales generated in emerging markets as a whole rose 4% and accounted for 46% of the group sales.

The Asia-Pacific region reported 5% sales (4% at local currency).