Symrise Ag (SYIEF.PK, SYIEY.PK), a supplier of fragrances, flavorings, cosmetic active ingredients, posted an increase in its profit for the first quarter and provided a long term outlook until 2020.
The group's net income rose 7 percent to 46 million euros from 43 million euros, while earnings per share grew to 0.39 euros from 0.36 euros last year.
Symrise said it improved its earnings before interest, taxes, depreciation and
amortization or EBITDA by 6 percent to 93 million euros.
Sales in the quarter increased 6 percent, or 8 percent at local currency, to 458 million euros from 433 million euros. Symrise also benefited from Emerging Markets, as sales in these markets grew 11 percent at local currency. The Group generated 48 percent of its total sales in Emerging Markets.
Looking ahead, the group further said, compared to the 2012 figures, it aims to increase sales by 1 billion euros until 2020. This corresponds to an average annual sales growth of 5 to 7 percent. Symrise also aims to increase its EBITDA to more than 500 million euros by the end of 2020.
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