EANS-News: Symrise AG again outperforms the market in 2009

- Sales grow by 3.2%

- Normalized EBITDA slightly higher year-on-year

- Significant increase in operating cash flow

- Stable dividend of €0.50

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Financial Figures/Balance Sheet

Subtitle: - Sales grow by 3.2%
- Normalized EBITDA slightly higher year-on-year
- Significant increase in operating cash flow
- Stable dividend of €0.50

Holzminden March 3, 2010 (euro adhoc) - Symrise AG enjoyed a robust
increase in business in 2009 despite the challenging market
environment. The company increased sales by 3.2 % at actual rates and
by 2.7 % at local currency. Symrise thus again enjoyed stronger
growth than the flavor and fragrances market, which stagnated in
2009. The EBITDA, adjusted for restructuring expenses, was slightly
higher than in 2008. Symrise benefited from an increase in business
during the second half of the year and the positive effects of the
restructuring measures implemented over the course of the year.

Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG,
said: "Symrise has demonstrated its resilience during the deepest
recession in decades. We managed to maintain our above-average growth
rate despite the difficult environment. Our strategic focus on large
global customers, emerging markets and innovative products has paid
off. At the same time we consequently adjusted to changing market
conditions and made our operations leaner and more efficient. This
contributed significantly to our ability to keep our normalized
EBITDA margin at a high level. We want to share our business success
with our shareholders and therefore intend to pay a stable dividend
of EUR 0.50 per share."

Bertram added: "The market environment has improved in recent months,
but continuously high raw material prices and the low level of
consumer confidence still constitute challenges. We anticipate that
Symrise will again exceed market growth and generate an EBITDA margin
of at least 20 % in the current financial year. Our mid-term
objective is to capitalize on our special strengths in dynamic
regions and in innovative application areas to become the
third-largest supplier in our market. We are confident that we can
achieve this goal with our current strategy and under our own power."

Rapid growth in emerging markets In 2009, Symrise enjoyed a 3.2 %
increase in Group sales from EUR 1,319.9 mil-lion to EUR 1,362.0
million. Sales at local currency rose by 2.7 %. Revenues generated in
emerging markets grew disproportionately and increased by 4.5 % at
local currency. Their share of the Group´s total sales rose from 40 %
in 2008 to 41 %.

The South American region grew particularly strong in 2009. Here
Symrise in-creased sales by 12 % and by 17 % at local currency. The
Asian/Pacific region contributed significantly to growth with an 8 %
increase in sales (5 % at local currency). In North America Symrise
revenues rose by 14 % (12 % at local currency), partly due to the
acquisitions made in 2008. The EAME region, which was hit especially
hard in the first half of the year by the weak economy and by
destocking of customer inventories, returned to growth during the
second half of the year. Sales in this region for the entire year
declined by 4 % (3 % at local currency).

Improved earnings in second half of the year The Group´s earnings
benefited from an upswing in business in the second half of the year
as well as from positive effects of the restructuring measures.
Moreover, the Group was able to maintain the price increases
implemented at the end of 2008 and beginning of 2009. Earnings
suffered from a decline in demand due to the destocking of customers´
inventories as well as from persistently high raw material costs,
restructuring expenses and costs for the integration of acquisitions
completed during the first half of the year. For the entire year
Symrise had extraordinary restructuring expenses of EUR 19.9 million
and final integration costs of EUR 2.4 million for acquisitions made
in 2008.

At EUR 265.4 million, earnings before interest, taxes, depreciation
and amortization (EBITDA) adjusted for restructuring expenses was
slightly higher than the previous year´s EBITDA of EUR 262.5 million.
The normalized EBITDA margin of 19.5 % nearly reached the level of
19.9 % in 2008. The EBITDA amounted to EUR 245.6 million in 2009.
This translated into an EBITDA margin of 18.0 %.

Net income declined from EUR 90.4 million to EUR 84.3 million.
Symrise thus achieved earnings per share of EUR 0.71 following EUR
0.76 in 2008.

In view of the stable development of business in a difficult market
environment, the executive board and the supervisory board of Symrise
AG will propose to the Annual General Meeting to keep the dividend at
the previous year´s level of EUR 0.50 per share. This corresponds to
a payout ratio of 70 % with respect to net income.

Significant increase in operating cash flow Effective working capital
management contributed significantly to the consider-able increase in
operating cash flow from EUR 153.1 million to EUR 225.7 million.
Symrise used the cash inflow, among others, to further pay off
financial liabilities. The company reduced net debt (including
pension reserves) from EUR 833.6 million to EUR 773.4 million. The
equity ratio improved to 36.4 % at the end of the year (Dec. 31,
2008: 34.3 %).

Above-average sales growth with core list customers Symrise again saw
business with large global customers grow disproportion-ately. Sales
with this strategically important customer group rose by 4.4 % in
2009. Large global customers thus accounted for 29 % of Group sales.
With an increase of 9.1 % (9.0 % at local currency), the Flavor &
Nutrition division in particular enjoyed a significant rise in
revenues with major customers. Top customer sales growth in the Scent
& Care division was lower due to the weaker demand in the fine
fragrances segment and the luxury segment of personal care. Both
divisions gained additional core list positions in 2009, thereby
laying a solid basis for the further expansion of business with major
global customers.

Scent & Care - slight sales increase in 2009 The Scent & Care
division benefited from an increase in business during the second
half of the year. Sales for the division rose by 1.6 % to EUR 682.3
million (previous year: EUR 671.8 million). Positive developments in
the application area Household and in the mid-price segment of
Personal Care more than compensated for the weak demand in Fine
Fragrances and in the luxury segment of Personal Care. Oral Care also
developed positively.

Like the Group as a whole, Scent & Care achieved dynamic growth in
emerging markets with an increase of 5 % at local currency. The
division boosted its sales in particular in South America, where even
the luxury segment Fine Fra-grances grew in contrast to the trend in
other regions. In North America Scent & Care benefited significantly
from the acquisitions made in 2008. The emerging markets in the
Asia/Pacific region also contributed to the growth in revenues. In
EAME a surge in business during the second half of the year partially
compen-sated for the slow development of business in the first half.

The Scent & Care division achieved an EBITDA of EUR 109.0 million
(previous year: EUR 130.2 million) in 2009. The EBITDA margin
amounted to 16.0 %. The normalized EBITDA was EUR 122.8 million,
which translated into an EBITDA margin of 18.0 %.

Flavor & Nutrition - EBITDA above previous year´s figure The Flavor &
Nutrition division increased revenues from EUR 648.1 million to EUR
679.7 million in the 2009 financial year. This represents a 5 %
increase at local currency. Following the destocking of customer
inventories in the first half of the year, business improved
significantly during the second half of the year.

Growth was especially strong in the emerging markets of South America
and in the Asia/Pacific region. Flavor & Nutrition´s sales in South
America grew by 21 % at local currency. In North America the division
outperformed the market, partially driven by acquisitions. Business
in the EAME region recovered during the second half of the year
following the destocking of customer inventories in the first half of
the year.

The Flavor & Nutrition division made an important strategic move in
the fourth quarter with the establishment of the new global Consumer
Health business unit. Consumer Health focuses on the dynamic segments
of functional ingredients for nutritional supplements and flavor
solutions for the pharmaceutical industry. Symrise builds on its
particular strength in innovation and on its techno-logical expertise
to systematically develop a new business area.

Despite persistently high raw material costs and the unfavorable
business development in the first half of the year, Flavor &
Nutrition increased its EBITDA to EUR 136.6 million in 2009 over EUR
132.3 million for the prior year. The division thereby achieved an
EBITDA margin of 20.1 %. Adjusted for restructuring expenses, the
EBITDA rose by 7.8 % to EUR 142.6 million. This corresponds to a
normalized EBITDA margin of 21.0 %.

Key Figures Group

in EUR million 2008 2009 Change in % Change in % (LC)
Sales 1,319.9 1,362.0 3.2 2.7
EBITDA 262.5 265.4 1 1
EBITDA margin¹ in % 19.9 19.5
EBIT 187.0 163.0 -13 -13
EBIT margin in % 14.2 12.0
Net income 90.4 84.3 -7
Earnings per share in EUR 0.76 0.71 -7
Dividend per share in EUR 0.50 0.50³ 0
Balance Sheet (31.12.) 1,890.6 1,895.2 0
Equity ratio (31.12.) 34.3 36.4
Capital expenditures 52.5 56.7
Net debt (incl. pension
provisions)/EBITDA
(31.12.) ratio 3.2 3.1
Operating Cashflow 153.1 225.7 47
Employees (31.12.) FTE² 5,097 4,954 -3

Scent & Care
Sales 671.8 682.3 1.6 1.0
EBITDA¹ 130.2 122.8 -6 -7
EBITDA margin¹ in% 19.4 18.0

Flavor & Nutrition
Sales 648.1 679.7 4.9 4.5
EBITDA¹ 132.3 142.6 8 8
EBITDA margin¹ in% 20.4 21.0

¹ Figure for 2009 adjusted for restructuring costs
² Not including apprentices and trainees, FTE = Full Time Equivalent
³ Proposal

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

end of announcement euro adhoc
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ots Originaltext: Symrise AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Carolin Amann

FD

+49-69-92037-132

Branche: Chemicals
ISIN: DE000SYM9999
WKN: SYM999
Index: MDAX
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