The company's Taste, Nutrition and Health division approached the €3 billion mark.
The German group announced it posted €4.6 billion ($4.85B) in 2022, a 20.7% jump compared to 2021, boosted by “good profitability.”
Symrise’s Taste, Nutrition and Health division’s sales increased by 24.8% to €2.9 billion ($3B), driven by the acquisitions of Giraffe Foods, Schaffelaarbos, and Wing Pet Food.
Symrise said the “positive net effect” of the acquisitions and the disposal of Velcorin and its color business totaled €99 million ($104.4M).
Net income dropped by €95 million ($100M) to €280 million ($295M) in 2022 because of the “impairment” of Swedencare.
CEO Heinz-Jürgen Bertram shared that the company developed the portfolio “excellently” through targeted acquisitions and strategic partnerships in 2022. “Our outlook for 2023 is correspondingly optimistic. We believe that we will continue to grow and create sustainable value in the current year,” he added.
The latest articles
CULT Food starts cultivated pet food regulatory race in the US
A subsidiary of the Canadian cell-based firm is to file a feeding trial to seek approval to sell the product in the country.
Purina witnessing a deceleration, admits Nestlé’s CFO
The multinational’s pet portfolio increased sales in the first half of 2024. GlobalPETS dives into the latest earnings.
American biotech companies receive $36 million in investments
California-based NovoNutrients and Digestiva to scale their footprints in alternative protein.
Weekly newsletter to stay up-to-date
Discover what’s happening in the pet industry. Get the must-read stories and insights in your inbox.