Symrise AG says it considerably increased its sales and earnings in the first nine months of 2014, benefiting from high demand in both segments and all regions.
For the first time and as of July 2014, the consolidated financial statements also include the results of Diana Group, which was acquired in spring.
Symrise thus increased its Group sales by 13 % at local currency to €1,530.0 million (US$1,916.43 million) in the reporting period (9M 2013: € 1,401.2 million).
Earnings before interest, taxes, depreciation and amortization as normalized for one-time effects from the acquisition and integration of Diana (EBITDAN) increased by 18 % to €343.8 million (nine months in 2013: €290.2 million).
The EBITDAN margin rose to 22.5 % (nine months in 2013: 20.7 %).
Sales growth in all regions
Latin America was the most rapidly expanding region with a sales increase of 20% at local currency, followed by EAME with a 14 % sales increase at local currency.
Symrise grew sales in North America and Asia Pacific by 13% and 7% respectively at local currency.
The flavor and nutrition increased sales by 19% to €793.2 million (nine months in 2013: €664.9 million).
At local currency, this corresponds to growth of about 24%.
For the period, July to September Diana contributed €115 million to sales and achieved a sales increase of 9% year on year.
Without the effects of this acquisition, flavor and nutrition grew sales by 6% at local currency.
