Symrise reports 1H14 financial results
Having successfully closed its acquisition of the Diana Group at the end of July, Symrise has report…Having successfully closed its acquisition of the Diana Group at the end of July, Symrise has reported its 1H14 financial results.
The company increased sales at local currency in all regions and significantly raised the operating result, it said. One-off non-recurring special items in connection with M&A activities affected the operating result by €3.4 million and the financial result by €7.5 million. EBITDA increased significantly by 9 % to €209 million (1H13: €191 million).
Symrise also increased its sales in the first six months to €942 million (1H13: €935 million). At local currency, sales grew by 6%.
“Symrise is entering the second half of the year with full steam ahead,” said Dr Heinz-Jürgen Bertram, CEO of Symrise. “In the first six months we have grown significantly and improved our profitability even further. High capacity utilisation, our continued cost discipline and, above all, our focus on high-margin business were significantly contributing to this development. By successfully completing the acquisition of Diana at the end of July, we have finalized the largest acquisition in our company’s history on schedule. We also completed the acquisition financing in record time. This allows us to now fully concentrate on the integration process in the areas of research and development as well as production and sales. I am certain that we will further accelerate our profitable growth together with Diana.”
Symrise confirmed its outlook for the 2014 fiscal year. The company said that it further expects solid demand and positive market development in all regions and in both divisions. For 2014, Symrise is also confident of outperforming local currency growth in the global market for fragrances and flavours.
