Symrise achieved all of its targets in 2019
Symrise AG continued its profitable growth course in 2019 and achieved all of its targets for the year. With the acquisition of ADF/IDF, the company furthermore reinforced its position in North America and expanded its product portfolio in the pet food market and in natural product solutions for the food industry.
Taking portfolio and exchange rate effects into account, sales increased by 8.0 % to EUR 3,408 million (2018: EUR 3,154 million). As a result, Symrise was again one of the fastest growing companies in the industry. This strong performance was carried by good demand across all segments and regions. Earnings before interest, taxes, depreciation and amortisation as well as normalised for one-time effects resulting from the acquisition of ADF/IDF (EBITDA(N)) increased by EUR 76.7 million to EUR 707.2 million.
Strong demand in all segments and regions
In the year under review, the company benefited from good capacity utilisation and strong demand in all segments and regions. Taking portfolio and exchange rate effects into account, Group sales increased by 8.0 % in the reporting period to EUR 3,407.9 million (2018: EUR 3,154.0 million). The organic growth rate achieved a clear plus of 5.7 %. As a result, the group exceeded the average market growth rate in 2019, which was in the 3 to 4 % range according to estimates. The acquisition of the ADF/IDF Group, a leading US supplier of poultry and egg-based protein specialties, completed in November 2019, contributed approximately EUR 32 million to group sales.