Symrise Q1 core earnings up on menthol demand
FRANKFURT May 7 (Reuters) - German scents and flavours specialist Symrise said quarterly core earnings advanced 6 percent on growth in emerging markets and as additional menthol output capacity was quickly absorbed by the market.
First-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 92.8 million euros ($121.16 million), slightly below market expectations of 93.5 million. The 7 percent gain in net income was also broadly in line with expectations.
Symrise, which competes with larger rivals IFF and Givaudan, said it still aims for faster 2013 sales growth than the 2-3 percent increase it expects to see in global flavours and fragrance markets.