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

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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

Further inquiry note:
Carolin Amann
FD
069-92037132
end of announcement euro adhoc
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issuer: Symrise AG
Mühlenfeldstraße 1
D-37603 Holzminden
phone: +49 (0) 5531/90-0
FAX: +49 (0) 5531/90-1649
mail: communications@symrise.com
WWW: http://www.symrise.com
sector: Chemicals
ISIN: DE000SYM9999
indexes: MDAX
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English

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