Symrise Accelerates Growth in Q3

PARIS – Symrise AG reported third-quarter earnings before interest, taxes, depreciation and amortization rose 3.3 percent, bolstered by strong demand across all of its business segments.
EBITDA at the German fragrance and flavors maker reached 162.3 million euros, while its sales in the three-month period ended Sept. 30 were up 4.6 percent to 763.2 million euros. On an organic basis, revenues increased 9.1 percent.
“We continued our growth initiatives in the third quarter, which led to a successfully expanded market position,” Heinz-Jürgen Bertram, chief executive officer of Symrise, said in a statement.
“The targeted investments into the product portfolio, research and development and new markets support our strategy. We are confidently looking ahead to the remaining weeks of the year. Our guidance for 2017 remains in place, and we also confirm our long-term targets,” he added.
In the first nine months of the year, the Holzminden, Germany-based supplier posted EBITA of 485.2 million euros, up 1 percent versus the same prior-year period, on sales of 2.28 billion euros, representing a 3.9 percent rise in reported terms and a 6.5 percent uptick on a like-for-like basis.
Symrise’s Scent & Care division’s sales totaled 960.1 million euros, down 3.7 percent in reported terms and up 3.3 percent

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