Symrise Ag (SYIEF.PK,SYIEY.PK), a supplier of fragrances, flavorings and cosmetic active ingredients, posted higher full-year net income of 158 million euros, or 1.33 euros per share, versus last year's 147 million euros, or 1.24 euros per share. Earnings before interest, taxes, depreciation and amortization or EBITDA for the year grew 7% to 339 million euros, from 316 million euros in 2011.
Group sales reached 1.73 billion euros in 2012, compared with 1.58 billion euros a year back, up 10% year-on-year, and rose by 6% at local currency, reflecting positive developments in both divisions. As a result, Symrise managed to surpass its raised forecast from May 2012, which aimed for a sales growth between 3% and 5%, the company said.
For the international flavors and fragrances market, growth has been estimated of 2 - 3 % for the current fiscal year. Looking ahead, Symrise targets to outperform the market in 2013, too; also anticipating to grow in both, industrialized nations and Emerging Markets in 2013. In addition, the firm expects raw material prices to remain at a high level with short-term volatility in 2013.
Taking into account these positive developments, the Executive Board and Supervisory Board would put forward a proposal at the Annual General Meeting to be held on May 14, 2013, to increase the dividend to 0.65 euros for the past fiscal year.
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