Symrise recorded double-digit percentage organic growth in its Cosmetic Ingredients division in the first nine months of 2022.
The German chemicals outfit said in particular its sun protection products business unit has continued to be “very dynamic and displayed high project vitality”.
“With double-digit percentage organic growth, sales in the Cosmetic Ingredients division performed very well. All regions posted significant sales increases,” it added.
Overall, Symrise’s Scent & Care business unit with perfume applications, fragrance and cosmetic ingredients, achieved organic sales growth of 6.4% in the first nine months of 2022.
Taking portfolio and exchange rate effects into account, sales in the first nine months of 2022 were €1.316 billion (2021: €1.132 billion).
Group sales across Symrise were €3.493 billion in the reporting period, up from €2.883 billion a year earlier.
“In the wake of the solid business development in the first nine months, the company is now pursuing organic sales growth of more than 10 % (previously: significantly above 7 %) for 2022 as a whole,” Symrise said in a statement.
“Profitability shall remain at a high level in 2022, with an EBITDA margin of around 21 %. The aim is to continue to combine organic and inorganic growth in the form of targeted strategic acquisitions together with continued strict cost management and price increases.”
Symrise CEO Dr. Heinz-Jürgen Bertram added: “In a still challenging and volatile market environment, we once again managed to continue our growth course.
“Our diversified portfolio as well as our broad regional presence and customer base were key factors in achieving this. Furthermore, materially increased demand in our core competencies such as cosmetics and pet food has contributed to significant organic growth.”