EANS-News: Symrise Achieves All-Time High in Sales and Earnings in 2012

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annual result

Holzminden, March 12, 2013 (euro adhoc) - · Sales up by 10 % to EUR
1.735 billion · EBITDA increases by 7 % to EUR 339 million · Net
income reaches all-time high of EUR 158 million · Proposed dividend
increase to EUR 0.65 · Symrise communicates long-term targets through
2020 for the first time

Symrise AG achieved the highest sales and earnings figures in its
company history in Fiscal Year 2012. The Group increased sales to EUR
1,735 million (2011: EUR 1,584 million); this represents an increase
by 10 % (at local currency: 6 %) compared to the previous year.
Positive developments in both divisions contributed to this result.
Of the established markets, North America showed the most dynamic
growth. Among the Emerging Markets - whose share of sales rose from
46 % to 48 % - Latin America posted the strongest growth. Symrise
remained highly profitable despite increased raw materials prices and
start-up costs for the doubling of its menthol capacities. EBITDA
increased by 7 % to EUR 339 million (2011: EUR 316 million) and the
EBITDA margin reached its targeted level of about 20 %.

Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, said: 'For Symrise, 2012
was a new record year. We increased sales by 10 % and thus exceeded
both, market growth as well as our own targets. Symrise saw
significant gains - both in Emerging Markets as well as in
established markets such as North America. With a strong increase in
EBITDA, we kept our profitability at a high level, despite increased
raw material costs and one-off expenses. Earnings per share improved
to EUR 1.33. The Executive and Supervisory Boards will propose
increasing the dividend for the Fiscal Year 2012 to EUR 0.65 at the
Annual General Meeting.'

Dr. Bertram continued: 'In view of our balanced positioning with
customer groups, products and regions as well as our investments in
rapidly expanding business areas, we consider ourselves well equipped
for 2013. Once again, we aim to grow faster than the market for
fragrances and flavors. For the first time, we have also formulated
long-term targets, which underscore our strategic commitment, which
aims at sustainable, profitable growth: By 2020 we want to increase
sales by EUR 1 billion and achieve an EBITDA of more than EUR 500
million.'

Sales Growth of 10 %

Symrise increased Group sales in 2012 by 10 % to EUR 1,735 million
(2011: EUR 1,584 million). At local currency, the increase was 6 %.
As a result, Symrise managed to surpass its raised forecast from May
2012, which targeted at a sales growth between 3 % and 5 %.

The Group's strongest growth was realized in Latin America with a 20
% increase in sales (21 % at local currency). Among the established
markets, North America proved to be the most dynamic and was our
second strongest region, posting an increase of 17 % (at local
currency: 8 %). In the Asia/Pacific region, Symrise grew by 15 % (at
local currency: 9 %). In the EAME region, weak economic conditions
and falling consumer demand hindered growth, particularly in Southern
Europe. Positive developments in Eastern Europe, Russia and Africa,
however, were able to counteract these effects. Sales growth saw a
more moderate increase at 2 % (at local currency: 1 %).

EBITDA Rises by 7 % to EUR 339 Million

Despite higher raw material prices and one-off expenses, such as the
start-up costs for doubling the menthol production, Symrise managed
to further increase its earnings. Earnings before interest, taxes,
depreciation and amortization (EBITDA) grew by 7 % to EUR 339 million
(2011: EUR 316 million). The EBITDA margin of 19.5 % (2011: 20.0 %)
was within the targeted range of around 20 %. Symrise was once again
among the most profitable companies in the industry in 2012.

Net income was up by 7 % and amounted to EUR 158 million (2011: EUR
147 million), which is also a new all-time high. Earnings per share
improved from EUR 1.24 in the previous year to EUR 1.33. In view of
these positive developments, the Executive Board and Supervisory
Board will put forward a proposal at the Annual General Meeting to be
held on May 14, 2013, to increase the dividend to EUR 0.65 (2012: EUR
0.62) for the past fiscal year.

Cash Flow from Operating Activities up on Last Year

Cash flow from operating activities amounted to EUR 219.5 million,
about EUR 18.6 million more than in the prior year (2011: EUR 200.9
million). A higher operating result was the leading contributor to
this development.

Net debt including pension provisions totaled EUR 812 million as of
the reporting date (December 31, 2011: EUR 772 million). The increase
compared to 2011 is mainly due to a rise in pension provisions
resulting from a change to the discount rate due to the currently low
interest rate levels. The ratio of net debt including pension
provisions to EBITDA amounted to 2.4 (December 31, 2011: 2.4) and was
thus within the targeted range of 2.0 to 2.5.

Share of Sales from Emerging Markets Increases to 48 %

Symrise continued to expand its market position in the Emerging
Markets during the past fiscal year. Compared to the previous year,
sales in these regions grew by 11 % at local currency and were
therefore notably higher than the Group's average sales growth. The
Emerging Markets accounted for 48 % of Group sales in 2012 (2011: 46
%).

Balanced Customer Portfolio

Symrise's customer portfolio is divided equally between global,
regional and local customers. The Group therefore has a very balanced
customer base, which contributes to a robust business development.
The company places a strategic focus on gaining core list positions
at large, internationally operating consumer goods and food
manufacturers. In the past fiscal year, Symrise increased its share
of sales with global customers by 10 % at local currency. The
activities with this particular customer group made up 32 % of Group
sales.

Scent & Care Division

With sales of EUR 883 million (2011: EUR 801 million) the Scent &
Care division exceeded its previous year's figure by 10 %. At local
currency, this corresponds to a growth of 7 %.

The division posted positive developments in demand for every
business unit, with the application areas Fragrances, Oral Care and
Life Essentials leading the way. Additional growth impulses arose
from the operations of the expanded menthol production plant in
Holzminden.

The strongest regional growth in the division was seen in Latin
America. Here, sales at local currency increased by 30 %. Rising
consumer demand in the perfume and personal care segments were the
top drivers behind this development. The second-highest growth came
from the Asia/Pacific region, where every business unit contributed
to the region's sales increase of 9 % at local currency. North
America also developed positively. Sales were up by 8 % at local
currency in the region, with Life Essentials and Fine Fragrances
providing most of the growth. In EAME, sales at local currency
declined by 2 %. The continuing positive developments in Eastern
Europe, particularly in the Fragrances and Aroma Molecules business
units, were not able to completely counteract the weaker developments
seen in Southern Europe.

Scent & Care increased its EBITDA by 2 % to EUR 161 million (2011:
EUR 158 million). The EBITDA margin amounted to 18.2 % compared to
19.7 % in 2011.

Flavor & Nutrition Division

Flavor & Nutrition generated sales of EUR 852 million in the 2012
fiscal year (2011: EUR 782 million). This corresponds to an increase
of 9 % (6 % at local currency).

The division grew in all application areas, with savory and beverage
applications as well as sweets generating particularly high growth
rates. Strong contributions also came from activities in Emerging
Markets.

The highest growth rate was seen in Asia/Pacific and North America,
with each posting an increase in sales of 8 % at local currency. The
Chinese market played a particularly key role for the positive
developments seen in Asia/Pacific. Symrise has been present there for
30 years and plans to expand its activities in 2013 and 2014 with
further investments. Sales growth in North America was mainly
attributable to new business throughout all application areas. Latin
America posted an increase of 7 % at local currency and generated
major gains with both, global and local customers. In the EAME
region, sales were up by 4 % at local currency. The region especially
benefited from higher demand in Eastern Europe, Africa and the Gulf
region.

EBITDA increased by 12 % to EUR 178 million in the Flavor & Nutrition
division (2011: EUR 158 million). The EBITDA margin increased from
20.2 % in 2011 to 20.9 %.

Long-Term Targets 2020: Focus on Sustainable, Profitable Growth

For the first time, Symrise has formulated long-term targets for its
business activities, which apply through the end of Fiscal Year 2020.
The Group aims to increase sales by more than EUR 1 billion by 2020.
This corresponds to an average annual sales growth (CAGR) of 5 to 7
%. Symrise continues to remain committed to profitable growth and is
targeting an EBITDA of more than EUR 500 million by 2020. The EBITDA
margin should develop within the range of 19 to 22 %.

To achieve these goals, Symrise is capitalizing on its proven growth
strategy, which is based on three pillars. The first pillar relates
to its global positioning and the expansion of its activities,
particularly in the dynamic Emerging Markets, which should account
for about two-thirds of Group sales by 2020. The second pillar
targets efficiency and includes measures for the continual
optimization of processes and the portfolio, as well as efficient
cost management. The third pillar focuses on maintaining a unique
profile with a diversified product portfolio, which will be expanded
through accelerated innovation.

In addition, Symrise continues to combine profitable growth with
sustainability. The Group thus aims to procure its most important raw
materials from sustainable sources by 2020. In addition, Symrise aims
at further reducing its energy and water consumption, CO2 emissions
and waste volumes by one third each.

Positive Outlook for the 2013 Fiscal Year

For the international flavors and fragrances market, growth has been
estimated of 2 to 3 % for the current financial year. Symrise aims at
outperforming the market in 2013, too. The Group expects to grow in
both, industrialized nations and Emerging Markets in 2013. The
traditional fragrance and flavor business will contribute as will the
comparably new, dynamic market segments Life Essentials and Consumer
Health. The Group is expecting a generally advantageous economic
environment, although Europe, in particular, will continue to be
affected by uncertainties arising from the sovereign debt crisis.
Symrise anticipates raw material prices to remain at a high level
with short-term volatility in 2013.

Key Figures of the Group

Change in %
at local
in Mio. EUR 2011 2012 Change in % currency

Sales 1,583.6 1,734.9 9,6 6,4
EBITDA 315.9 338.9 7 4
EBITDA margin in % 20.0 19.5
EBIT 234.4 252.6 8 4
EBIT margin in % 14.8 14.6
Net income 146.5 157.5 7
Earnings per
share in EUR 1.24 1.33 7
Dividend per
share in EUR 0.62 0.65(1) 5
Balance
sheet total
(as of
Dec 31) 2,120.3(2) 2,151.9 1
Equity ratio
(as of
Dec 31) in % 40.9 40.7
Investments 67.3 70.3
Net debt
(incl.
pension
provisions)
/EBITDA (as
of Dec 31) ratio 2.4(2) 2.4
Operating
cash flow 200.9 219.5 9
Employees
(as of
Dec 31) FTE(3) 5,434 5,669 4

Scent & Care
Sales 801.4 882.8 10.2 7.1
EBITDA 157.6 161.1
EBITDA margin in % 19.7 18.2

Flavor & Nutrition
Sales 782.2 852.1 8.9 5.7
EBITDA 158.3 177.8
EBITDA margin in % 20.2 20.9

(1) proposal
(2) previous year's figures have been adjusted as a result of changes to
accounting policies
(3) not including apprentices and trainees; FTE = Full Time Equivalent

Pictures are available for download from the Company Website/News& Media/
http://www.symrise.com/en/news-media/press-images/management.html

About Symrise

Symrise is a global supplier of fragrances, flavorings, cosmetic active
ingredients and raw materials as well as functional ingredients. Its clients

include manufacturers of perfumes, cosmetics, food and beverages, the
pharmaceutical industry and producers of nutritional supplements.

Its sales of EUR 1.735 billion in 2012 place Symrise among the top
four companies in the global flavors and fragrances market.
Headquartered in Holzminden, Germany, the Group is represented in
over 35 countries in Europe, Africa, the Middle East, Asia, the
United States and Latin America.

Symrise works with its clients to develop new ideas and market-ready
concepts for products that form an indispensable part of everyday
life. Economic success and corporate responsibility are inextricably
linked as part of this process. Symrise thus takes sustainability
into account in every part of its corporate strategy. The company was
awarded the German Sustainability Award in 2012. www.symrise.com

Contact Media:
Bernhard Kott
Phone: +49 (0)5531 90-1721
bernhard.kott@symrise.com

Contact Investors:
Tobias Erfurth
Phone: +49 (0)5531 90-1879
tobias.erfurth@symrise.com

Further inquiry note:
Symrise AG
Investor Relations
Tobias Erfurth
ir@symrise.com

end of announcement euro adhoc
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company: Symrise AG
Mühlenfeldstraße 1
D-37603 Holzminden
phone: +49 (0) 5531/90-0
FAX: +49 (0) 5531/90-1649
mail: ir@symrise.com
WWW: http://www.symrise.com
sector: Chemicals
ISIN: DE000SYM9999
indexes: MDAX
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English