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Symrise reports major growth in 2016

By Louis Gore-Langton , 15-Mar-2017
Last updated on 15-Mar-2017 at 14:47 GMT2017-03-15T14:47:38Z

iStock©
iStock©

German flavours and nutrition supplier Symrise reports strong growth in 2016 following expansion and decentralisation of the company.

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."

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