Symrise sales of US$3.5B bolstered by active cosmetic ingredients

26 Oct 2022 --- Symrise has released its third quarter sales report, highlighting that despite the continued challenging market environment, growth across all divisions was “much stronger than expected,” bolstered by sales growth of active cosmetic ingredients.

Taking into account portfolio effects such as acquisitions or divestments as well as currency translation effects, group sales of €3,493 million (US$3.5 billion) in the first nine months and Q3 sales growth of 13.6% was reported.

The company’s Scent and Care segment achieved organic growth of 6.4% in the first nine months of the year and 6.7% in the third quarter.

“In a still challenging and volatile market environment, we once again managed to continue our growth course. Our diversified portfolio, as well as our broad regional presence and customer base, were key factors in achieving this,” says Dr. Heinz-Jürgen Bertram, CEO at Symrise.

“Furthermore, materially increased demand in our core competencies, such as cosmetics and pet food, has contributed to significant organic growth. We were also able to further accelerate our growth by acquiring Giraffe Foods, Schaffelaarbos, Wing Pet Food, Néroli and Romani, which significantly strengthened our product range,” he details.

The company flags that despite the uncertainties resulting from the war in Ukraine, increasing raw material prices and ongoing global supply bottlenecks, Symrise is well positioned to continue on its growth path.

Symrise Scent and Care achieved organic sales growth of 6.4% in the first nine months of 2022.Active cosmetic ingredients drive sales
The acquisitions of the perfumery businesses of Sensient, Néroli and Romani contributed over US$39 million to the segment’s sales.

The Fragrance division increased its sales by a single-digit percentage in the first nine months. The Fine Fragrances business unit continued to develop dynamically, achieving “high organic growth following a strong previous year.”

With double-digit percentage organic growth, sales in the Cosmetic Ingredients division performed very well as all regions posted significant sale increases.

Due to consumer demand for ethical and transparent beauty in July, Symrise Cosmetic Ingredients partnered with Germany-based Evoxx Technologies to develop and manufacture enzymes. This move strengthened the company’s expertise in biocatalysis for formulating cosmetic ingredients.

Additionally, the division introduced a Beauty Activations brand accelerator project to work with beauty brands in North America.

The program aimed to help companies implement their product innovation through ingredient sourcing, developing market-ready solutions and trend analysis to support consumer product launches.

In the Consumer Fragrance and Oral Care business units, demand for hygiene and oral care products was lower than in the previous year. Applications in the area of household products continued to perform well.

The Aroma Molecules division achieved organic sales growth in the single digits. Demand for fragrance ingredients recovered significantly compared to the same period in the previous year.

Sun block innovations 
Symrise reports that its sun protection products business unit continued to be dynamic and displayed high project vitality.

The company launched its cosmetic brand Neo Heliopan in May. It is a mineral UV filter range developed under its care segment and with its strategic partner Kobo, a company specializing in mineral UV filters.

Symrise said it met the increasing demand for effective, safe and natural sun care with the addition of the two ingredients to its sun care portfolio amid a rising tide toward coral-safe and ocean-friendly sun creams to protect aquatic ecosystems threatened by ocean heat waves.

More recently, the company expanded its Neo Heliopan portfolio further with the launch of the UV filter Neo Heliopan EHT, which is noted to absorb UVB rays and is a “high-performance” ingredient that works well in sunscreen and water-resistant products with a sun protection factor.

Edited by Radhika Sikaria