BERLIN — Symrise AG reported net profits in the third quarter surged 28 percent to 59.5 million euros, or $88.4 million.
Operating profits (EBIT) advanced 26 percent in the three-month period ending Sept. 30 to 96.3 million euros, or $127.8 million. Consolidated figures for the Holzminden, Germany-based maker of flavors and fragrances now include the results of the Diana Group, which it acquired in July.
The company noted one-time effects in the amount of 12.9 million euros related to the acquisition and integration of the Diana Group.
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A Symrise spokesman credited more favorable raw material prices, a strong U.S. dollar and the “pruning” of low-margin businesses in Scents and Care for the profit gains.
Company sales in the July-to-September period advanced 26 percent to 588.2 million euros, or $780.5 million. Dollar figures are converted at average exchange for the period to which they refer.
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In the first nine months of this year, Symrise net income rose 14.9 percent to 160.8 million euros, or $218.1 million. Sales, supported by all regions, the group’s scent and care and flavor and flavor and nutrition business segments, as well the Diana acquisition, increased 9 percent to 1.53 billion euros, or $2.08 billion.
Symrise reported sales were flat for its scent and care division in the period at 736.8 million euros, or $999.3 million.
The company said the outlook for the fourth quarter is positive in both its business segments and expects robust demand in all regions. Symrise again confirmed its full-year forecast, which calls for sales to outpace the market growth rate of 2 percent to 3 percent, and an EBITDA margin of more than 20 percent.