Symrise Releases 2009 Flavor Sales

HOLZMINDEN, Germany—Symrise AG reported an increase in business in 2009 despite the challenging market environment. The company increased sales by 3.2 % at actual rates and by 2.7 % at local currency.
Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG, said: “Symrise has demonstrated its resilience during the deepest recession in decades. We managed to maintain our above-average growth rate despite the difficult environment. Our strategic focus on large global customers, emerging markets and innovative products has paid off. At the same time we consequently adjusted to changing market conditions and made our operations leaner and more efficient.”
The Flavor & Nutrition division increased revenues from € 648.1 million to € 679.7 million in the 2009 financial year. This represents a 5 % increase at local currency. Following the destocking of customer inventories in the first half of the year, business improved significantly during the second half of the year.
Growth was especially strong in the emerging markets of South America and in the Asia/Pacific region. Flavor & Nutrition’s sales in South America grew by 21 % at local currency. In North America the division outperformed the market, partially driven by acquisitions. Business in the EAME region recovered during the second half of the year following the destocking of customer inventories in the first half of the year.
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