Symrise Scent & Care records Q1 sales growth of 12.4% year-on-year
Symrise’s Scent & Care business unit generated sales of €419.3 million in the first quarter of 2022, up 12.4% on revenue of €373.2 million a year earlier.
The German firm’s fragrances, perfumery applications and cosmetic ingredients business saw organic sales growth of 4.9%, it said.
“Sales in the cosmetic ingredients division developed very positively during the first quarter of the current year with organic percentage growth in the double-digit range,” the company said in a statement.
“The key growth drivers were the regions EAME (Europe, Africa, Middle East) and Latin America. In particular, the application area for sun protection products grew dynamically as a result of the increase in international travel activity and the return to more widespread leisure activities.”
Overall, Symrise recorded group sales of €1,090.6 million in the first quarter of 2022, up 14.9% on revenue of €949.6 million a year earlier.
Symrise AG chief executive Dr. Heinz-Jürgen Bertram said: “As the year progresses, we will see an increased level of volatility in the business environment due to the war in Ukraine and the ongoing battle against the pandemic.
“Nevertheless, we expect reliable demand and are convinced that we are well positioned for the coming months. We are consistently implementing our growth initiatives and continue to target organic sales growth of 5 to 7% with an expected EBITDA margin of around 21% for the current fiscal year."
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