HOLZMINDEN (dpa-AFX) - Symrise AG (SYIEY.PK, SYIEF.PK), a supplier of fragrances, flavorings and cosmetic active ingredients, reported Tuesday that its first-quarter sales grew 8 percent to 917.1 million euros from 848.8 million euros last year.
All segments contributed to the positive development and posted gains despite the challenging global economic conditions under Covid-19.
In organic terms, sales were up 2.3 percent.
The Scent & Care segment, specializing in fragrances and personal care, achieved total sales of 368.4 million euros, up 1.2 percent on organic basis.
In the Flavor segment, which supplies flavor ingredients for foods and beverages, sales increased 1.6 percent organically to 322.6 million euros.
In the Nutrition segment, which includes Diana (food, pet food and probiotics applications) and the activities of ADF/IDF, sales increased 36.2 percent to 226.1 million euros. Organic growth was 6.1 percent.
The company said it uses its technological skills and resources to produce disinfectants and deliver them free of charge to municipalities for use in public institutions.
Looking ahead, Symrise said it is confident for the fiscal year 2020, and remains on track for growth.
Symrise continues to be fully operational worldwide and has sustained supply capability. The company expects that the Covid-19 crisis will temporarily change consumer behavior in parts and lead to a shift in the portfolio.
While the development and impact of Covid-19 is difficult to assess at present, the Group continues to expect to grow faster than the relevant market, supported by the very diversified competencies, in the course of the year.
Further, the longer term goals until the end of 2025 remain in effect. Symrise aims to increase its sales to 5.5 billion euros to 6 billion euros. The Company intends to achieve this increase through annual organic growth of 5-7 percent and additional targeted acquisitions.
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