EANS-News: Symrise AG / Symrise significantly increases sales and earnings

• Group sales grow 13.2 % at local currency

• Growth across all divisions and regions

• EBITDA rises 42 % – EBITDA margin reaches 21.3 %

• Net income nearly doubles to € 40.4 million

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quarterly report

Subtitle: • Group sales grow 13.2 % at local currency
• Growth across all divisions and regions
• EBITDA rises 42 % – EBITDA margin reaches 21.3 %
• Net income nearly doubles to € 40.4 million

Holzminden May 4, 2010 (euro adhoc) - Symrise AG has significantly
increased sales and earnings in the first quarter of 2010. In an
improving market environment the company saw sales at local currency
grow 13.2 %, or 12.8 % at actual rates. Symrise grew across all
divisions and regions, profiting from a robust rise in demand as well
as the increasing normalization of order patterns and stock-keeping
on the part of many customers. Group EBITDA rose by 42 % to EUR 83.3
million. At 21.3 % the EBITDA margin significantly exceeded the level
of previous quarters. The positive sales development as well as the
effects of the restructuring measures implemented in 2009 contributed
considerably to the improvement in earnings.

Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG,
said: "The clearly visible recovery of the market during the second
half of 2009 continued into the first quarter. Symrise took advantage
of the noticeable increase in customer demand to get off to a
successful start in the 2010 financial year. The strong position we
enjoy with respect to major customers and robustly growing emerging
markets is again reflected in our above-average rate of growth. We
are also pleased about the very positive development of markets in
both Western and Eastern Europe. The sharp jump in earnings confirms
that our company is in excellent shape."

With respect to the coming quarters Bertram added: "The development
of busi-ness during the first quarter makes us confident that we will
be able to meet our objectives for the current financial year. We
want to continue to grow faster than the market as a whole and
achieve an EBITDA margin of more than 20 %. Our strategic focus will
be on the further enhancement of our unique profile in the business
units Care and Nutrition."

Strong sales growth in all regions

In the first quarter Symrise saw Group sales at local currency grow
by 13.2 % to EUR 392.5 million (previous year: EUR 346.7 million) and
by 12.8 % at actual rates. The growth rate of 15.4 % at local
currency in emerging markets again ex-ceeded the figure for the Group
as a whole. The share of total sales generated in emerging markets
thus rose one percentage point to 44 %. Symrise also be-nefited from
a recovery of the mature markets, namely Western Europe and the USA.

The strongest growth in sales of 18 % (17 % at local currency) was
posted in the Asia/Pacific region. The EAME region, which was the
hardest hit by the economic crisis in 2009, showed noticeable signs
of recovery in the first quarter. Sales rose 15 % (14 % at local
currency). The North American market also experienced positive
effects from the improved market conditions and in-creased sales by 6
% and by a strong 13 % at local currency. Latin America was less
affected by the economic crisis in 2009. Here sales rose 7 % (4 % at
local currency) in the first quarter over the already high figures
for the previous year.

Sales with major customers grew 13 %

Sales with the ten largest customers rose 13 % at local currency.
Symrise thus generated 30 % of Group sales with this strategically
important customer group. Business with major customers in the Flavor
& Nutrition division developed es-pecially dynamic and sales for this
customer group rose 18 % at local currency. In the Scent & Care
division the 10 % increase of sales with the ten largest customers
was mainly due to the recovery in the application areas Fine
Fragrance and the luxury segment of Personal Care. Both divisions
continue to enjoy a strong position on core lists and were able to
win additional projects in the first quarter.

Net earnings for the period nearly doubled to EUR 40.4 million

The robust sales increases in all regions and business units,
combined with the effects of the restructuring measures implemented
in 2009, contributed signifi-cantly to the earnings development of
Symrise in the first quarter. A decline in the prices for raw
materials in certain areas, as well as strict cost management
throughout the Group also had a noticeably positive effect.

Earnings before interest, taxes and depreciation (EBITDA) rose in the
first quar-ter by 42 % to EUR 83.3 million. The EBITDA margin of 21.3
% was clearly higher than the figure for the first quarter of the
previous year (16.9 %). Net income for the period nearly doubled from
EUR 20.9 million to EUR 40.4 million. This corresponds to earnings
per share of EUR 0.34 following EUR 0.18 for the previous year.

Solid financial situation

Operating cash flow in the first quarter was EUR 17.6 million
(previous year: EUR 45.0 million) and reflects the increase in
working capital resulting from the sharp growth in sales. Symrise
continues to have a solid financial basis. Net debt (incl. pension
provisions) amounted to EUR 786 million (31 Dec. 2009: EUR 773
million) at the end of the first quarter. Symrise reduced the ratio
of net debt incl. pension provisions to EBITDA from 3.1 at the end of
2009 to 2.9 as of March 31, 2010.

Scent & Care - Double-digit growth and higher profitability

The Scent & Care division, and especially the application area Fine
Fragrance and the luxury segment of Personal Care, benefited
noticeably from the im-provement of the economy. These business areas
suffered from a decline in consumer spending last year. The
application areas Household, Aroma Molecules and Cosmetic Ingredients
also performed very well. The Scent & Care division also profited
from the launch of new products including those in the cosmetics
area.

Scent & Care enjoyed double-digit growth rates in the regions EAME,
North America and Asia/Pacific. With 20 % sales growth at local
currency, EAME posted the largest increase in sales in the division.
Sales in Latin America grew only 1 % over the very strong first
quarter of 2009.

In the first quarter Scent & Care posted sales of EUR 204.8 million
(previous year: EUR 179.8 million) for a growth rate of 13.9 % (14.1
% at local currency).The EBITDA rose by an impressive 53 % to EUR
41.1 million (previous year: EUR 26.9 million). The EBITDA margin of
20.1 % (previous year: 15.0 %) achieved a high level.

Flavor & Nutrition - EBITDA margin increased to 22.7 %

Flavor & Nutrition also got off to a successful start in the 2010
financial year. The division benefited from the recovery of global
markets and posted above-average growth in the application areas
Beverages and Sweet. Sales rose 22 % at local currency in the
Asia/Pacific region. In North America major customers were primarily
responsible for the growth in sales of 16 %. The regions EAME and
Latin America posted strong single-digit growth rates.

The application area Consumer Health, which was launched in the
fourth quar-ter and specializes in functional ingredients for food
substitutes as well as flavor solutions for pharmaceutical products,
developed well and increased sales by 26 % at local currency.

During the reporting period Flavor & Nutrition saw sales rise 12 %
(12 % at local currency) to EUR 186.2 million (previous year: EUR
166.9 million) with an increase in EBITDA from EUR 31.8 million to
EUR 42.2 million. The EBITDA margin rose to 22.7 % (previous year:
19.0 %).

EUR million Q1 2009 Q1 2010 Change in% Change in %
at local currency
Sales 346.7 391.0 12.8 13.2
EBITDA 58.7 83.3 42 49
EBITDA margin in % 16.9 21.3 - -
EBIT 38.1 62.5 64 76
EBIT margin in % 11.0 16.0 - -
Net income for the period 20.9 40.4 93
Earnings per share in EUR 0.18 0.34 93
Operating cash flow 45.0 17.6

DIVISONS
Scent & Care
Sales 179.8 204.8 13.9 14.1
EBITDA 26.9 41.1 53 60
EBITDA margin in % 15.0 20.1 - -

Flavor & Nutrition
Sales 166.9 186.2 11.6 12.3
EBITDA 31.8 42.2 33 39
EBITDA margin in % 19.0 22.7 - -

31.12.09 31.03.10
Balance sheet total 1,895.2 1,981.0
Capital ratio 36.4 38.4
Net debt(incl. pension
provisions)/EBITDA ratio 3.1 2.9
Employees / FTE¹ 4,954 5,190

¹ Not including apprentices and trainees, FTE = full time equivalent

About Symrise

Symrise is a global supplier of fragrances and flavorings while also
manufacturing raw materials and active ingredients for the perfume,
cosmetics and food industries.

Its sales of EUR 1.36 billion in 2009 place the company among the top
four in the international flavors and fragrances market.
Headquartered in Holzminden, Germany, Symrise is represented in over
35 countries in Europe, Asia, the United States and South America.

Used by manufacturers of perfumes, cosmetics and foods, our products
are an inseparable part of daily life. At Symrise we combine an
awareness of consumer trends with cutting-edge technologies, focusing
on innovative fashion and lifestyle products that have additional
practical value for the consumer. Symrise - always inspiring more…
www.symrise.com

Press Contact: Investor Contact:
Bernhard Kott Dr. Andrea Rolvering
Tel. +49 (0)5531 90-1721 Tel. +49 (0)69 75 93 75 94
bernhard.kott@symrise.com andrea.rolvering@symrise.com

end of announcement euro adhoc
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ots Originaltext: Symrise AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Carolin Amann

FD

069-92037132

Branche: Chemicals
ISIN: DE000SYM9999
WKN: SYM999
Index: MDAX
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
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