In the nine-month period, Symrise increased sales by 16 % (in local currency) to €2,192.3 million (US$2,424.59 million, 2015: €1,977.0 million).
Earnings before interest, taxes, depreciation and amortization, normalized for one-time effects from the acquisition and integration of Pinova Holdings, Inc. (EBITDAN) were up 7 % to € 480.3 million (9M 2015: € 448.5 million).
Despite the first-time inclusion of the Pinova Group since the first quarter of 2016, Symrise has maintained profitability at a very good level and achieved an EBITDAN margin of 21.9 % (9M 2015: 22.7 %).
The Group is optimistic as it looks ahead to the remaining weeks of 2016.
At regional level, Symrise experienced the strongest growth in Latin America, where sales were up 34 % in local currency.
The second-strongest region was North America, at 27%.
Asia Pacific saw a 12% increase in sales, followed by Europe, Africa, Middle East or EAME with an increase of 7%.
Symrise also recorded strong growth in the emerging markets, where sales were 17 % higher in local currency, accounting for 43 % of the Group’s total sales.
Flavor and nutrition achieved a sales growth of 3%, and was up 9% in local currency.
The segment benefited particularly from good capacity utilization and strong demand for sweets and culinary applications.
Excluding the purchased activities of Dutch Scelta Umami and Nutra Canada, and adjusted for the sale of the CAP pork specialties last year, the segment also posted strong organic growth with an increase of 10 % in local currency.
Symrise is anticipating the fourth quarter of 2016 with optimism and expects good dynamics in both segments for the remaining weeks of the year.
Some countries will still be impacted by economic instability and political tensions.
However, the company expects to be able to counter these effects through its broad diversification and regional presence.
The Group therefore remains committed to its 2016 objective of growing faster than the global flavors and fragrances market, which is estimated to grow by about 3% this year.
