Symrise’s pet food division maintains double-digit growth
The US, France, Mexico, China and Southeast Asia markets have performed well in the first half of 2022.
The Germany-based producer posted global sales of €2.3 billion, an increase of 10.2% against last year. The consolidated net income for the period amounted to 229 million, € 33 million higher.
The pet food division continued its high double-digit percentage growth “unabated” and all regions contributed to the positive sales performance.
Symrise CEO Heinz-Jürgen Bertram noted that, despite the current “volatile business environment”, the company managed to continue the profitable growth course in the first six months of 2022 by relying on its “robust business model.”
“Customers have particularly increased their demand for applications for cosmetics, fine fragrances and pet food,” he added.
Optimistic forecast
Despite the current headwinds, Symrise considers itself well positioned to continue on its profitable growth path and expects “faster than the relevant market” sales growth at above 7% this year.
“The company relies on its robust business model, diversified application portfolio and broad regional presence and customer base.”
The company has also accelerated the international expansion of the pet food applications business in markets such as China, North America, Brazil and France. Earlier in June, the producer completed the acquisition of Chinese manufacturer Wing Pet Food to accelerate the company’s diversification in the “highly attractive” Asian region.
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