Symrise Flavor Mid-Year Sales Up 6%

HOLZMINDEN, GermanyDespite ongoing high raw material costs and energy prices, Symrise AG reported a 7% increase in sales to 871.6 million during the first six months of 2012. Dynamics in Emerging Markets, especially Latin America, as well as positive developments in North America played a particular role in the growth. The company expects additional growth from its new menthol production plant that has been operating since June.

Flavor & Nutrition increased sales by 6% in the first half to 427 million. The division benefited particularly from its activities in the Emerging Markets, favorable core-list positions and from additional new business gained with regional and international customers.

Flavor & Nutrition achieved the strongest growth in North America with sales up 12%. Every application area contributed to the positive development, with sales increases in the high single-digit and double-digit ranges. The main growth driver was Russia with a double-digit growth rate, while the sovereign debt crisis continued to have a notable effect on Western European markets. Sales growth was restrained in the Asia/Pacific region, up 1%. In Latin America, Flavor & Nutrition increased its sales by 2% at local currency.