The Scent & Care business unit of German chemical maker Symrise rose 8.3% in the first quarter of 2023 year-on-year to €454m ($502m).
The organic sales growth of Scent & Care, the business unit with fragrances, aroma molecules and cosmetic ingredients, was pegged at 4.2%.
Symrise said sales in the Cosmetic Ingredients division were strong in the first quarter of the current year, with organic growth in the double-digit percentage range.
The most important growth drivers were the EAME regions (Europe, Africa, Middle East) and Latin America. Application areas with active cosmetic ingredients grew strongly, it added.
Group sales rose by 12.8% to € 1.23 billion, up from €1.091 billion in the first quarter of 2022.
The company also recorded organic sales growth of 10.6% (previous quarter 8.3%).
“Symrise was able to seamlessly continue last year's positive business development at the beginning of this year. Despite high inflation and continued volatility in our markets, we are optimistic about the rest of the year and expect robust demand,” said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG.
“Our diversified portfolio and our broad international positioning will also help us realize our growth potential and create lasting value this year. For the current fiscal year, we are aiming for organic sales growth of 5% to 7% and an EBITDA margin of around 20%,” he added.
