HOLZMINDEN, Germany—Despite a persistently difficult market environment, Symrise AG achieved stable sales in the first half of 2009. Although its earnings position was burdened with high raw material prices as well as restructuring and integration expenses, sales rose from € 676.0 million to € 685.1 million in the first six months.
Sales in the Flavor & Nutrition division rose by 3 percent to € 341.5 million; adjusted for exchange rate effects, revenues grew by 1 percent. Growth also was driven by the regions South and North America and by transactions with major customers. In North America, the integration of Chr. Hansen Flavors in 2008 had a positive effect on sales performance. If the effect of the acquisition made in 2008 is taken into account, sales in the division decreased by 2 percent. The division expanded its innovation platform in the reporting period by establishing a new Health & Nutrition competence center. Earnings also were affected by destocking, high raw material prices and restructuring expenses.
