Symrise yesterday released its financial report for 2016, showing growth in all segments despite investments in diversifying, reorganising and expanding the business segments.
Its profits increased 12% throughout the year to €2.9bn – a €300m growth since 2015. This is substantially higher than estimates for growth in the overall flavours and fragrances market, which averaged only 3%.
Symrise says this is largely down to its granting greater autonomy and flexibility to its different business units, and reorganising them into a three segment structure.
Its flavour and nutrition segments are now fully separated business units.
The flavours segment – which produces over 15,000 different products – reported a 4% increase in sales, rising to over €1bn throughout 2016. The report noted the strongest sales in the sweets and beverages industry.
In nutrition, its subsidiary company Diana – which Symrise took over in 2014 - reported substantial sales growths in all markets, particularly pet foods. This comes with various acquisitions, including the takeover of Dutch company Scelta Umami and Nutra Canada, a producer of plant and fruit extracts.
Dr. Heinz-Jürgen Bertram, CEO of Symrise, said: “For 2017, we remain optimistic despite political changes and tensions in some countries. We have a presence in more than 40 countries, a widely diversified portfolio, and highly engaged employees. We aim at continuing our highly profitable growth course and remain one of the leading companies in our industry."