Symrise reports sales growth amid economic challenges

GERMANY – Symrise has achieved continued growth as it records an organic sales increase of 11.1% during the first nine months of the year. 

After accounting for portfolio adjustments and currency fluctuations, the company’s total revenue reached approximately US$4.06 billion, compared to US$3.92 billion during the same period last year.

This is a growth of 5.9%. 

Both business segments contributed to this upward trend, despite a challenging global economic backdrop. 

In the third quarter alone, the company saw organic sales rise by 10.2%, with overall sales increasing by 5.2% in reporting currency, despite a 4.0% negative impact from exchange rates. 

Given this strong organic performance, Symrise has revised its growth forecast, now projecting an organic sales increase of about 7%.

CEO Jean-Yves Parisot stated that the company successfully continued its positive momentum through the third quarter. 

The Latin America region achieved the highest organic growth rate at 27.4%, followed by the Asia/Pacific region at 11.2%, and EAME (Europe, Africa, Middle East) at 11.1%. 

Significant growth in these areas was driven by the Food & Beverage, Fragrance, Aroma Molecules, and Pet Food business units. 

In contrast, North America reported organic growth of 2.3%, primarily fueled by the Food & Beverage and Aroma Molecules sectors.

The Taste, Nutrition & Health segment noted an organic sales increase of 10.4% in the first nine months, with a higher growth rate of 11.3% recorded in the third quarter. 

Including portfolio and currency effects, revenue for this segment rose to approximately US$2.57 billion, up from US$2.42 billion year-over-year. 

However, a negative portfolio impact of around US$29 million was attributed to the sale of the beverage trading business in the UK.

This growth comes amid a series of strategic initiatives for Symrise. 

In September, the company opened a new $1.66 million office and laboratory facility for the Food & Beverage sector in Beijing, China. 

This new location aims to enhance research and development capabilities, improve customer relations, and strengthen market presence in northern China. 

The facility encompasses 8,600 square feet, which includes office space, advanced laboratory areas, and administration rooms.

In addition, March marked a significant leadership change at Symrise, with Dr. Heinz-Jürgen Bertram retiring after a successful 15-year tenure as CEO. 

Dr. Jean-Yves Parisot, an experienced executive within the company, was appointed as the new CEO, effective March 31, 2024. 

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