(Reuters) – Germany’s Symrise posted a 2% rise in its first-quarter sales on Tuesday, broadly in line with expectations, driven primarily by higher volumes.
The company, whose fragrances go into the perfumes of French luxury giants LVMH and Kering, reported January-March revenue of 1.32 billion euros ($1.50 billion).
Analysts, on average, forecast 1.33 billion euros in a company-provided poll.
The taste, nutrition & health segment – which makes ingredients used in food, beverages and pet food – posted organic sales growth of 5.9% to 799 million euros, driven by strong performance in the food and beverage division, particularly in beverage applications.
The pet food division experienced moderate sales growth, offset by softer performance in pet nutrition, Symrise said.
The scent & care division posted a 1.7% organic sales growth, maintaining stability despite high sales in cosmetic ingredients during the previous year. The fragrance division recorded high-single-digit growth bolstered by strong momentum in fine fragrances, it said.
The group also reaffirmed its 2025 guidance of an annual sales increase between 5% and 7%, with an EBITDA margin of around 21%.
“We remain confident in our outlook for the current year and in our ability to deliver profitable above-market growth through 2028,” CEO Jean-Yves Parisot said in a statement.
($1 = 0.8785 euros)
(Reporting by Antonis Pothitos; Editing by Janane Venkatraman)
