Symrise says sales increased by 5.6% in Q3

In Q3 2009, Symrise increased third-quarter sales over the same period of 2008 by 5.6% at local currency, and by 4% on a pro forma basis.

Both business divisions and all regions contributed to the growth.

The EBITDA rose by 12% at local currency in the third quarter, benefiting decisively from the improved sales performance as well as from the first savings effects from the restructuring measures implemented in the first half of the year.

In the first nine months of the year, the group achieved an EBITDA margin, adjusted for restructuring expenses, of 19.7%.

“The clearly discernible upswing in the third quarter confirmed our expectations for the second half of 2009,” says CEO Heinz-Jürgen Bertram.

“In our view, the sales growth in both business divisions and in all regions is a signal that destocking on the part of our customers has virtually come to an end.”

“This contributed to the improvement of our earnings situation, as did the restructuring measures, whose effects became apparent in the third quarter.”