THE NATURE OF OUR BUSINESS â€“ STABLE GROWTH - Symrise

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2.4.Consolidation Principles The consolidated financial statements comprise the financial statements of Symrise AG and its subsidiaries as at December 31, 2008, respectively. The financial statements of the subsidiaries are prepared for the same reporting date as that of the parent company using uniform accounting policies. For this purpose, adjustments are made to compensate for any differences in recognition and measurement deriving from local accounting policies. All inter-company balances, transactions and unrealized gains deriving from intra-group transactions are eliminated. Unrealized losses deriving from intragroup transactions are also eliminated unless Group acquisition and production costs cannot be recovered in future. Subsidiaries are fully consolidated from the date of acquisition, i.e. from the date on which control is transferred to the Group. Inclusion in the consolidated financial statements ceases at such time as the parent company’s controlling influence ends. Investments are accounted for using the equity method inasmuch as Symrise does not hold a controlling interest but is still able to exercise a significant influence over the business and financial policies of these entities (“associates”). In July 2008, a 20% interest was acquired in Therapeutic Peptides Inc., Baton Rouge, US. This investment was accounted for using the equity method of accounting in the consolidated financial statements as at December 31, 2008, for the first time. The consolidated financial statements as at December 31, 2008, includes 58 (2007: 55) Group companies, of which 11 (2007: 10) are German and 47 (2007: 45) are foreign. Fully consolidated subsidiaries Domestic Foreign Investments accounted for using the equity method Foreign Total Dec. 1, 2008 10 45 0 55 Additions 1 1 1 3 Disposals 0 0 0 0 Dec. 31, 2008 11 46 1 58 102 Annual Report 2008 Symrise AG
Further information on share interests can be found in the list of Group shareholdings that is filed with the electronic commercial register. The fully consolidated subsidiaries that NAME AND LOCATION OF COMPANY Germany Symrise AG, Holzminden Symrise GmbH & Co. KG, Holzminden Symrise Beteiligungs GmbH, Holzminden DrinkStar GmbH, Rosenheim Schimmel & Co. GmbH, Holzminden Kaden Biochemicals GmbH, Hamburg Tesium GmbH, Holzminden Symotion GmbH, Holzminden Busiris Vermögensverwaltung GmbH, Holzminden Symrise Verwaltungs GmbH, Holzminden Symrise US-Beteiligungs GmbH, Frankfurt am Main Rest of Europe Aromatics, S.A.S., France Steng Ingredients Ltd., United Kingdom Symrise S.A., Switzerland Symrise Ltd., United Kingdom Symrise Holding Ltd., United Kingdom Flavors Direct Ltd., United Kingdom Symrise B.V., Netherlands Symrise Iberica S.L., Spain Symrise S.A., France Symrise S.r.l., Italy Symrise Vertriebs GmbH, Austria Symrise Kimya Sanayi ve Ticaret Ltd. Sirketi, Turkey Symrise Luxembourg S.a.r.l., Luxembourg WWS Ltd., United Kingdom North America Symrise Inc., United States Symrise Holding Inc., United States Symrise S. de R.L. de CV., Mexico Annual Report 2008 Symrise AG 103 Share % 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 are included in the consolidated financial statements as at December 31, 2008, are listed below: NAME AND LOCATION OF COMPANY South America Symrise Aromas e Fragrancias Ltda., Brazil Symrise S.r.l., Argentina Symrise S.A., Chile DRAGOCO Colombia Ltda., Columbia Symrise Ltda., Columbia Symrise C.A., Venezuela Asia and Pacific Symrise Pty. Ltd., Australia Symrise Ltd., Hong Kong, China Symrise Export Ltd., Hong Kong, China Symrise Ltd., Shanghai, China Symrise SDN. BHD, Malaysia Symrise Holding Pte. Ltd., Singapore Haarmann & Reimer (SEA) Pte. Ltd., Singapore Symrise Pte. Ltd., Singapore Symrise Asia Pacific Pte. Ltd., Singapore Symrise Ltd., Korea Symrise Ltd., Thailand Thamasarb Co. Ltd., Thailand Haarmann & Reimer (Thailand) Co. Ltd., Thailand P.T. Symrise, Indonesia Symrise Inc., Philippines Symrise Pvt. Ltd., India Symrise K.K., Japan Africa and Middle East Ragco (Pty) Ltd., South Africa Symrise (Pty) Ltd., South Africa Symrise Mauritius Ltd., Mauritius Symrise S.A.E., Egypt Aromatics Madagascar S.a.r.L., Madagascar Origines Madagascar S.a.r.L., Madagascar Share % 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 Notes
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THE NATURE OF OUR BUSINESS - STABLE
Page 3 and 4:
Key Figures € million Sales Scent
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4 - 51 52 - 92 93-98 99-147 148-152
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April 25 Symrise organizes the “t
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2008: A financial crisis became an
Page 11 and 12:
We can hope that 2009 will bring th
Page 13 and 14:
Dominique Yates CFO since October 2
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Growth Means Stability - in Nature
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OUR THREE BRAND PILLARS The flavors
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Flavors and Fragrances Are More Tha
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Our requirement is to meet new requ
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Innovation Is Never Just About Prod
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MORE INNOVATION THROUGH MORE INTEGR
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Responsibility Knows No Boundaries
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emissions. We require of ourselves
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Dr. Gerold Linzbach, speaking with
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divisions. At the same time, the na
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are increasingly strict and expensi
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ically examine the costs from the v
Page 39 and 40:
Our People Success has many faces.
Page 41 and 42:
A complete Junior Perfumer program
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cludes the Symrise share, declined
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Attractive Dividend Proposed for 20
Page 47 and 48:
The Executive Board and Supervisory
Page 49 and 50:
A breakdown of the total remunerati
Page 51 and 52:
Report of the Supervisory Board In
Page 53 and 54: Annual and Consolidated 2008 Financ
Page 55 and 56: Detail Index Group Management Repor
Page 57 and 58: As a rule, our flavor, fragrance an
Page 59 and 60: The organizational structure is cus
Page 61 and 62: Flavor & Nutrition Beverages Sweet
Page 63 and 64: Flavor & Nutrition: Innovations and
Page 65 and 66: MARKET SHARE F&F INDUSTRY (total
Page 67 and 68: Financial Objectives and Value-base
Page 69 and 70: half of 2009. After integration cos
Page 71 and 72: SALES BY REGION € million EAME As
Page 73 and 74: RECONCILIATION € million EBIT EBI
Page 75 and 76: “AND” Products Grow Faster Sale
Page 77 and 78: ucts was significantly lower than o
Page 79 and 80: 6. FINANCIAL POSITION Main Financia
Page 81 and 82: 8. OTHER FACTORS RELEVANT TO RESULT
Page 83 and 84: High Performance Sales Training, co
Page 85 and 86: active health promotion programs an
Page 87 and 88: Customer complaints about product q
Page 89 and 90: The following table shows when our
Page 91 and 92: › our position on the core lists
Page 93 and 94: Dr. Gerold Linzbach therefore reque
Page 95 and 96: Consolidated Income Statement T€
Page 97 and 98: EQUITY AND LIABILITIES T€ LIABILI
Page 99 and 100: T€ Balance brought forward Invest
Page 101 and 102: Notes to the Consolidated Financial
Page 103: company is lost. The changed provis
Page 107 and 108: If the requirements of IAS 39 with
Page 109 and 110: The sales tax amount that is recove
Page 111 and 112: opment costs recognized are amortiz
Page 113 and 114: tion results in a gain, any recogni
Page 115 and 116: 5. SEGMENT REPORTING For the purpos
Page 117 and 118: 2008 T€ Sales External sales Resu
Page 119 and 120: 6. CONSOLIDATED INCOME STATEMENT 6.
Page 121 and 122: 6.8.Financial Result T€ Interest
Page 123 and 124: The interest risk that is hedged is
Page 125 and 126: The deferred tax assets and liabili
Page 127 and 128: 2008 T€ Cost As at January 1, 200
Page 129 and 130: 8.12. Property, Plant and Equipment
Page 131 and 132: 8.13. Acquisitions Cambridge Theran
Page 133 and 134: Current bank borrowings are not sec
Page 135 and 136: A new pension plan was established
Page 137 and 138: The entity in the US provides healt
Page 139 and 140: Repayment of Bank Borrowings The Se
Page 141 and 142: The following table shows amounts r
Page 143 and 144: Sensitivity Analysis for Derivative
Page 145 and 146: 11. LONG TERM FINANCIAL RISK MANAGE
Page 147 and 148: continuance Company M&G Investment
Page 149 and 150: Annual Report 2008 Symrise AG 147
Page 151 and 152: Responsibility Statement (“Bilanz
Page 153 and 154: Dr. Peter Grafoner* Horst-Otto Gerb
Page 156:
Symrise AG Mühlenfeldstraße 1 376
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THE NATURE OF OUR BUSINESS â€“ STABLE GROWTH - Symrise

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