Symrise Expands Research in Singapore

15 Aug 2007

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15/08/07 Fragrance and flavorings manufacturer Symrise is dramatically expanding its international market research activities by reopening its regional center in Singapore.

The new research center is part of the worldwide Symrise Sensory & Consumer Science network and complements the existing regional centers in Europe / Asia / Middle East (EAME), North America and South America. The facility is equipped with high-performance statistics programs, rooms for focus groups, panel-training rooms and individual sensory-test booths; this allows the center to support all of the Asia Pacific teams by offering expertise and the newest tools.

Sensory and consumer research is one of Symrise's core competences, and this area is of vital importance, especially on the Asian growth market with its steadily increasing per-capita income levels.

“As a region, Asia is essential to the global Symrise group, which is why it is the perfect place for us to keep expanding our outstanding expertise in the field of sensory and consumer research,” as CEO Dr. Gerold Linzbach explains. “Despite all of the talk about the global times we live in, it is still incredibly important for companies in our business to have a well-founded understanding of local customs and habits. In our experience, these insights can only be established and developed by having intense contact with people on site. The Asia Pacific market features different cultures, the influences of wide-ranging global trends and a broad spectrum of consumer needs. This offers us prime conditions for learning about people's preferences and turning this information into innovative, successful products. The direct proximity to Asian consumers will help us do this even more effectively in the future.”

To understand consumers more thoroughly, innovative new test methods are used in addition to tried-and-true quantitative and qualitative approaches such as central-location and home-use tests, online surveys and focus groups.

Symrise researchers have demonstrated their ability to think outside the box by pursuing new paths in sensory marketing and consumer segmenting by means of tools such as freak groups, mimic testing and indicative consumer panels.

In addition to its regional centers, Symrise works with a global network of universities, market research institutes and agencies. In keeping with its strategy, “Always inspiring more,” its ongoing goal is to be a source of inspiration to its clients and to provide consumers with innovative product concepts that consistently offer added value.

Last week Symrise AG reported that the company continued to grow in the 1st half of 2007, recording a considerable increase in Group sales and even larger growth in earnings before interest, taxes, depreciation and amortization (EBITDA). Symrise AG is therefore making good progress towards achievement of its forecasts for 2007 financial year. In local currencies, Group sales for the period from January to June 2007 increased by 6.8 per cent over the prior-year period. Symrise AG therefore grew twice as fast as the market, which showed growth of about 3 per cent. This is attributable primarily to the high growth in the emerging markets as well as in the EAME region. At current exchange rates, sales increased by 4.5 per cent to EUR 660.9 million.

Both divisions contributed similarly to this growth: the Scent & Care Division increased its sales in local currencies by 7.5 per cent, while the Flavor & Nutrition Division’s sales were 6.1 per cent higher. Both divisions succeeded in increasing sales with key accounts. Net income for the period more than tripled in the period under review, from EUR 15.5 million in the prior-year period to EUR 52.6 million.