THE NATURE OF OUR BUSINESS – STABLE GROWTH - Symrise

Detail Index Group Management Report
54 1. FISCAL YEAR 2008 – AN OVERVIEW
54 2. GENERAL INFORMATION ON THE SYMRISE GROUP
AND ITS BUSINESS ACTIVITIES
54 Overview of Business Activities
55 Organization of the Symrise Group
57 Overview of the Divisions and Products
57 Scent & Care
59 Scent & Care: Innovations and Focuses
60 Flavor & Nutrition
61 Flavor & Nutrition: Innovations and Focuses
62 Overview of Research and Development
62 Market and Competition
63 Customers and Industries
64 Corporate Strategy and Aims
64 Financial Objectives and Value-based
Corporate Management
65 3. GENERAL CONDITIONS
65 Business Environment
66 Performance of the Flavor and Fragrance Market
66 Investments and Acquisitions
67 Regulatory Environment
68 The Company’s Performance in 2008 --
A Comparison between the Actual and
Forecast Course of Business
68 4. RESULTS OF OPERATIONS
68 Sales
70 Gross Profit and Operating Income
71 EBIT/EBITA/EBITDA
71 Q4 EBIT/EBITA/EBITDA
72 Financial Result
72 Taxes
72 Net Profit and Earnings per Share
72 Dividend
72 5. PERFORMANCE OF THE BUSINESS DIVISIONS
72 Scent & Care
72 Scent & Care Growing with the Market
73 “AND” Products Grow Faster
73 High Sales Growth with Top 10 Customers
73 Emerging Countries Remain Growth Engine
73 Strong Sales in Emerging Countries
73 Solid Growth in Q4
74 Regions
74 Earnings Situation
74 Flavor & Nutrition
74 Good Business Performance
75 “AND” Products Offering Added Values
75 Customer Segmentation Pays Off
75 Emerging Countries Remain Growth Engine
75 Challenges in the Fourth Quarter
75 Business Divided into Application Areas
75 Regions
76 Earnings Situation
Annual Report 2008 Symrise AG 53
77 6. FINANCIAL POSITION
77 Main Financial Characteristics and Objectives
77 Financing Structure
77 Cash Flow/Liquidity
78 7. NET ASSETS
79 8. OTHER FACTORS RELEVANT TO RESULTS /
NON-FINANCIAL PERFORMANCE INDICATORS
79 Procurement
79 Operations/Supply Chain
80 Employees
80 Perfumers’ Academy
80 The Leadership Academy
81 The Flavor Academy
81 Sustainability
81 Audits and Guidelines
82 Sustainability in the Divisions
82 Raw Materials
82 Technology
82 Social Commitment
82 Compliance
83 Organization and Tools
83 Benchmarks and Environmental Indicators
83 9. RISK MANAGEMENT
83 Risk Management System
84 Strategy, Market and Product Risks
85 Operational and IT Risks
85 Procurement Risks
86 Financial Risks
86 Credit Risks
86 Liquidity Risks
87 Currency and Interest Rates
87 Legal and Task Risks
87 Overall Risk Situation
88 10. SUBSEQUENT REPORTS
87 General Statement and Economic Situation
of the Symrise Group
88 11. OUTLOOK AND OPPORTUNITIES ASSESSMENT
88 Underlying Conditions and Future Development of
the Symrise Group
89 12. REMUNERATION OF THE EXECUTIVE BOARD
89 Remuneration Structure
90 Pensions
90 Early Termination of Employment Contracts
91 Expiration of Employment Contracts
91 Directors and Officers Insurance
91 Disclosures Required by Takeover Law in
accordance with Section 315, par 4 of the
HGB (German Commercial Code)
Group Management
Report