10/03/2020 | Industry, International

Symrise successfully continues profitable growth

Symrise AG continued its profitable growth course in 2019 and achieved all of its targets for the year. With the acquisition of ADF/IDF, the Company furthermore reinforced its position in North America and expanded its product portfolio in the pet food market and in natural product solutions for the food industry. Taking portfolio and exchange rate effects into account, sales increased by 8.0% to € 3.408 bn (2018: € 3.154 bn). As a result, Symrise was again one of the fastest growing companies in the industry. According to the company, this strong performance was carried by good demand across all segments and regions. Earnings before interest, taxes, depreciation and amortization as well as normalized for one-time effects resulting from the acquisition of ADF/IDF (EBITDA(N)) increased by € 76.7 m to € 707.2 m.

"Symrise AG again posted strong growth in 2019. With the acquisition of ADF/IDF, we have continued to expand in fast growing, high-margin business areas. We have also further diversified our product portfolio in the attractive pet food market and expanded our position in North America. In addition, we made investments to expand our capacities over the course of the year and rolled out new technologies around the world. These targeted growth initiatives, combined with our disciplined cost management, are clearly reflected in our operational development in recent quarters," said Dr Heinz-Jürgen Bertram, CEO of Symrise AG. "Along with our customers, the capital market has also responded favourably to our performance. The share price has increased by 42% in 2019. We want our shareholders to participate in our success again this year. At the Annual General Meeting of Symrise AG, the Executive Board and Supervisory Board will propose a dividend increase to € 0.95 per share."