DOCSLIB.ORG

Group Management Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Group Management Report Group Management Report SYMRISE AG, HOLZMINDEN JANUARY 1 TO DECEMBER 31, 2019 BASIC INFORMATION ON THE GENERAL STATEMENT ON THE SYMRISE GROUP 6 COMPANY’S ECONOMIC SITUATION 51 Structure and business activities 7 Market and competition 12 OUTLOOK 52 Goals and strategy 14 Future general conditions 53 Value-oriented management 15 Future corporate development 54 Research and development 15 General statement on the Employees 19 company’s expected development 54 Sustainability 22 REMUNERATION REPORT 55 ECONOMIC REPORT 24 Remuneration of the Executive Board 55 Global economic and industry- Remuneration of the Supervisory Board 62 related conditions 25 Corporate development 28 DISCLOSURES PURSUANT TO SECTION 315A OF THE GERMAN OPPORTUNITIES AND RISK REPORT 42 COMMERCIAL CODE (HGB) 64 Management of opportunities and risks 43 Approach to evaluating risks 43 CORPORATE GOVERNANCE STATEMENT 67 Opportunities and risks in detail 44 Overall assessment of opportunity and risk situation 49 ESSENTIAL FEATURES OF THE ACCOUNTING-RELATED INTERNAL CONTROL AND RISK MANAGEMENT SYSTEM 49 Main features and objectives 49 Organization and process 50 6 — Group Management Report — BASIC INFORMATION ON THE SYMRISE GROUP Basic information on the Symrise Group Sharing values: Strong roots, new paths SEGMENTS Flavor Nutrition Scent & Care Cosmetic Aroma Flavor Diana ADF/IDF Probi Fragrance Ingredients Molecules DIVISIONS GOALS Financial goals Sales growth EBITDA margin at local currency 19 – 22 % (until 2020) 5 – 7 % p.a. (CAGR) 20 – 23 % (until 2025) > 50 % 1/3 Cross-divisional Share of sales Customer portfolio mix: connection of products from emerging markets global, regional, local and technologies Complementary operative goals Sustainability STRATEGY Vision Growth Efficiency Portfolio • Growth in emerging markets • Specific efficiency programs • Expand competencies outside • Maximization of customer spectrum • Optimization of raw materials the traditional flavor and fragrance • Targeted innovation portfolio industry • Acquisitions Sustainability Values BASIC INFORMATION ON THE SYMRISE GROUP — Group Management Report — 7 STRUCTURE AND BUSINESS ACTIVITIES The Flavor segment is made up of the business units Beverages, COMPANY PROFILE Savory and Sweet. The Nutrition segment consists of the Diana Symrise is a global supplier of fragrances and flavorings, division with the business units Food, Pet Food, Aqua and cosmetic active ingredients and raw materials, functional in­ Probi as well as the US company ADF/IDF, which was acquired gredients and product solutions for food production based in November 2019. The Scent & Care segment breaks down on natural starting materials. Its clients include manufacturers into the Fragrance, Cosmetic Ingredients and Aroma Molecules of perfumes, cosmetics, food and beverages, the pharmaceu­ divisions. tical industry and producers of nutritional supplements and pet food. The activity of the Group is also organized into four regions: Europe, Africa and Middle East (EAME), North America, Asia/ With sales of € 3.4 billion in the 2019 fiscal year and a market Pacific and Latin America. share of around 10 %, Symrise is one of the leading global sup­ pliers in the flavors and fragrances market. Headquartered Additionally, the Group has a Corporate Center where the fol­ in Holzminden, Germany, the Group is represented by more lowing central functions are carried out: Accounting, Control­ than 100 locations in Europe, Africa, the Middle East, Asia, ling, Taxes, Treasury, Corporate Communications, Investor the United States and Latin America. The Symrise Group origi­ Relations, Legal Affairs, Human Resources, Group Compliance, nally resulted from a merger between the German companies Corporate Internal Audit and Information Technology (IT). Haarmann & Reimer and Dragoco in 2003. The roots of Symrise Other supporting functions such as technology, energy, safety, date back to 1874 and 1919, when the two companies were environment and logistics are bundled in independent Group founded. In 2006, Symrise AG entered the stock market with companies. They also maintain business relationships with its initial public offering (IPO). Since then, the Symrise share customers outside the Group. has been listed in the Prime Standard segment of the German stock exchange, and it had a market capitalization of about Symrise AG’s headquarters are located in Holzminden, Ger­ € 12.7 billion at the end of 2019. The Symrise share is listed on many. At this site, the Group’s largest, Symrise employs the MDAX® index. Currently, about 95 % of the shares are in 2,448 people in the areas of research, development, production, free float. marketing and sales as well as in the Corporate Center. The company has regional headquarters in the USA (Teterboro, New Operational business is the responsibility of the Flavor, Jersey), Brazil (São Paulo), Singapore and France (Rennes, Nutrition and the Scent & Care segments. Every segment has Brittany). Important production facilities and development its areas such as research and development, purchasing, centers are located in Germany, France, Brazil, Mexico, Sin­ production, quality control, marketing and sales. This system gapore, China and the USA. Symrise has sales branches in more allows processes to be accelerated. We aim to simplify pro­ than 40 countries. cedures while making them customer­oriented and pragmatic. We place great value on fast and flexible decision­making. 8 — Group Management Report — BASIC INFORMATION ON THE SYMRISE GROUP Symrise sites 2019 | | | | | | | | | | Springfield | | | | | | | | | . | | | | | | | | | | || | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | - | | | | | | | | | | | | | | | | | | | | | | | | | | - | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ' | | | | | | | | | | Teterboro | | | | | | | | | | | 0 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ' | | | | | | | | | | | | | | | | | | | | | | | | -- | | | | | | | -| | -- | | | | | | | | | | | | | | Singapore | | | | | | | | | | | | | | | São Paulo | | | | | | | | | | | | | | | | | | | Holzminden | | | | | | | | | | | | | Global headquarters Regional headquarters Symrise sites MANAGEMENT AND OVERSIGHT planning, strategy and risks with the Executive Board. In com­ Symrise is a German stock corporation with a dual manage­ pliance with the German Codetermination Act, Symrise AG’s ment structure consisting of an Executive Board and a Super­ Supervisory Board has an equal number of shareholder and visory Board. The Executive Board is responsible for managing employee representatives. The Supervisory Board has formed the company with the primary aim of sustainably increasing four committees to increase the efficiency of its work. the company’s value. Details on cooperation between the Executive and Supervisory Symrise AG’s Supervisory Board has twelve members. It over­ Boards as well as on corporate governance at Symrise can sees and advises the Executive Board in the management of be found in the Supervisory Board and corporate governance the company and regularly discusses business development, statements. Supervisory Board Chairman: Dr. Winfried Steeger Chief President Chief President President Executive Officer Scent&Care Financial Officer Nutrition Flavor Dr. Heinz-Jürgen Bertram Achim Daub Olaf Klinger Dr. Jean-Yves Parisot Heinrich Schaper BASIC INFORMATION ON THE SYMRISE GROUP — Group Management Report — 9 BUSINESS ACTIVITIES AND PRODUCTS flavorings that enable foodsʼ sugar or salt content to be reduced The value chain of Symrise or a moisturizing cosmetic ingredient that lowers the propor­ Symrise manufactures about 30,000 products from around tion of preservatives in care products. 10,000 – mostly natural – raw materials such as vanilla, citrus products or flower and plant materials. The value chain of On the basis of these products, our customers can differentiate the three segments extends across research and development, themselves from competitors with their tailor­made end purchasing, and production as well as the sale of products products in the rapidly changing consumer goods market. The and solutions. The natural food ingredients, flavors, perfume extensive research and development (R & D) undertaken at the oils and active ingredients are generally central functional company, which is supplemented by a wide­reaching external components in our customers’ end products and often play a network of research institutes and scientific facilities, forms decisive role in consumers’ purchasing decisions. Along the basis of our product development. Given the strong differ­ with the typical product characteristics such as fragrance and ences in sensory preferences from region to region, compre­ taste, our value creation lies in the development of products hensive consumer research is also an important part of our with additional benefits. Examples of how flavors and perfume R & D activities. oils are combined with other innovative components include Probiotics Active Fragrance Ingredients Ingredients Consumer Fragrances Botanicals Colors * Majority shareholder in the Swedish company Probi AB. 10 — Group Management Report — BASIC INFORMATION ON THE SYMRISE GROUP CORPORATE STRUCTURE Our customers include
Load more

Recommended publications
  • Performance & Sustainability Report
    Performance & Sustainability Report 2016 ABOUT FIRMENICH ORGANIZATIONAL PROFILE TABLE OF CONTENTS Firmenich is the world’s largest privately owned company in the Chairman and CEO Letter 02 fragrance and flavor business. Founded in 1895 and headquartered in Geneva, Switzerland, R&D Perspectives 04 Firmenich has created many of the world’s best-known perfumes Ingredient Perspectives 04 and flavors enjoyed around the world, every day. Firmenich reports its financial results and sustainability initiatives Perfumery Perspectives 05 (following the GRI guidelines) on a fiscal year basis ending June 30. Flavor Perspectives 06 In this report, all references to “FY16” relate to the 12 months ended June 30, 2016. Sustainability at Firmenich 07 Pathways to Positive 08 6,500 Employees 36 Countries Ethics and Excellence 10 Environment and 18 Resources 25 Manufacturing 3.2bn Swiss francs Innovation, Science 26 sites (CHF) sales and Society Partnerships 32 People and Communities 40 3 R&D centers About this Report 48 OUR WORLD Firmenich operates in three business divisions: Ingredients, Fragrances and Flavors. • The Ingredient Division designs natural and synthetic perfumery and flavoring ingredients. This division was the first created 120 years ago. • The Fragrance Division creates home care, body care and fine fragrances featuring Firmenich molecules and raw materials bought from suppliers. • The Flavor Division crafts flavors used in Sweet Goods, Beverages, and Savory Products. Firmenich’s Flavor Division aims to capture and capitalize on the continued consumer demand for healthier products. As a supplier to the world’s largest consumer goods companies and to a multitude of regional and local customers, Firmenich’s environmental footprint and governance standards matter to our customers.
    [Show full text]
  • 2020 Governance, Compensation and Financial Report Ements
    Governance, Compensation and Financial Report 2020 Governance, Compensation Governance report and Financial Report As part of our reporting suite, this stand-alone document contains the full details of our governance and compensation policies as well as the details of our financial performance. Compensation Compensation report An overview can be found in the Integrated Annual Report. Consolidated Consolidated report financial Statutory report financial Table of contents 3 Governance report 22 Compensation report 38 Consolidated financial report 102 Statutory financial report Appendix 114 Appendix Governance Report In this section 4 Group structure and shareholders 5 Capital structure 7 Board of Directors 16 Executive Committee 19 Compensation, shareholdings and loans 19 Shareholders’ participation 20 Change of control and defence measures 20 Auditors 21 Information policy Givaudan – 2020 Governance, Compensation and Financial Report 4 Corporate governance Governance report Ensuring proper checks and balances 1. Group structure and shareholders The Governance report is aligned with 1.1 Group structure 1.1.1 Description of the issuer’s operational Group structure international standards and has been prepared Givaudan SA, the parent company of the Givaudan Group, with its registered corporate headquarters at 5 Chemin de la Parfumerie, 1214 Vernier, Switzerland (‘the Company’), is a in accordance with the ‘Swiss Code of Obligations’, ‘société anonyme’, pursuant to art. 620 et seq. of the Swiss Code of Obligations. It is listed on Compensation Compensation report the ‘Directive on Information Relating to the SIX Swiss Exchange under security number 1064593, ISIN CH0010645932. Corporate Governance’ issued by the SIX Swiss The Company is a global leader in its industry. Givaudan operates around the world and has two principal businesses: Taste & Wellbeing and Fragrance & Beauty, providing customers Exchange and the ‘Swiss Code of Best Practice for with compounds, ingredients and integrated solutions.
    [Show full text]
  • Important Notice the Depository Trust Company
    Important Notice The Depository Trust Company B #: 12945-20 Date: February 10, 2020 To: All Participants Category: Dividends | International From: Global Tax Services Attention: Managing Partner/Officer, Cashier, Dividend Mgr., Tax Mgr. BNY Mellon | ADRs | Qualified Dividends for Tax Year 2019 Subject: Bank of New York Mellon Corporation (“BNYM”), as depositary for these issues listed below has reviewed and determined if they met the criteria for reduced U.S. tax rate as “qualified dividends” for tax year 2019. The Depository Trust Company received the attached correspondence containing Tax Information. If applicable, please consult your tax advisor to ensure proper treatment of these events. Non-Confidential DTCC Public (White) 2019 DIVIDEND CERTIFICATION CUSIP DR Name Country Exchange Qualified 000304105 AAC TECHNOLOGIES HLDGS INC CAYMAN ISLANDS OTC N 000380105 ABCAM PLC UNITED KINGDOM OTC Y 001201102 AGL ENERGY LTD AUSTRALIA OTC Y 001317205 AIA GROUP LTD HONG KONG OTC N 002482107 A2A SPA ITALY OTC Y 003381100 ABERTIS INFRAESTRUCTURAS S A SPAIN OTC Y 003725306 ABOITIZ EQUITY VENTURES INC PHILIPPINES OTC Y 003730108 ABOITIZ PWR CORP PHILIPPINES OTC Y 004563102 ACKERMANS & VAN HAAREN BELGIUM OTC Y 004845202 ACOM CO. JAPAN OTC Y 006754204 ADECCO GROUP AG SWITZERLAND OTC Y 007192107 ADMIRAL GROUP UNITED KINGDOM OTC Y 007627102 AEON CO LTD JAPAN OTC Y 008712200 AIDA ENGR LTD JAPAN OTC Y 009126202 AIR LIQUIDE FRANCE OTC Y 009279100 AIRBUS SE NETHERLANDS OTC Y 009707100 AJINOMOTO INC JAPAN OTC Y 015096209 ALEXANDRIA MINERAL - REG. S EGYPT None N 015393101 ALFA LAVAL AB SWEDEN SWEDEN OTC Y 021090204 ALPS ELEC LTD JAPAN OTC Y 021244207 ALSTOM FRANCE OTC Y 022205108 ALUMINA LTD AUSTRALIA OTC Y 022631204 AMADA HLDGS CO LTD JAPAN OTC Y 023511207 AMER GROUP HOLDING - REG.
    [Show full text]
  • Symrise Has Always Been Creating Exciting Taste and Fragrance Experiences – This Is at the Heart of Our Daily Operations
    Key Figures of the Group 2010 2011 2012 2013 2014 Business Sales € million 1,571.9 1,583.6 1,734.9 1,830.4 2,120.1 EBITDA 1 € million 331.2 315.9 338.9 373.1 464.5 EBITDA margin 1 in % 21.1 20.0 19.5 20.4 21.9 EBIT 1 € million 244.4 234.4 252.6 283.1 337.9 EBIT margin 1 in % 15.5 14.8 14.6 15.5 15.9 Net income 1 € million 133.5 146.5 157.5 172.3 211.6 Balance sheet total (as of December 31) € million 2,059.0 2,120.3 2 2,150.2 2 2,210.4 3,999.8 Capital ratio (as of December 31) in % 40.9 40.9 2 40.9 2 43.0 35.8 Investments (without M & A) € million 70.5 67.3 70.3 70.7 101.3 Net debt (incl. pension provisions and similar obligations) / EBITDA (as of December 31) 1 ratio 2.2 2.4 2 2.4 2 2.0 3.2 Research and development expenses 1 € million 107.9 107.6 113.8 127.0 138.9 Operating cash flow € million 235.1 200.9 219.5 274.8 343.2 Capital Market Shares issued as of balance sheet date millions 118.2 118.2 118.2 118.2 129.8 Share price at end of fiscal year (Xetra® closing price) in € 20.53 20.62 27.12 33.50 50.13 Market capitalization at end of fiscal year € million 2,426.1 2,436.7 3,204.9 3,958.8 6,507.5 Earnings per share 1 in € 1.13 1.24 1.33 1.46 1.69 Dividend per share in € 0.60 0.62 0.65 0.70 0.75 3 Environment Carbon dioxide emissions (Scope 1 and Scope 2) 4, 5 in t 254.44 251.61 240.51 226.00 205.13 Chemical oxygen demand (COD) in wastewater 4, 5 in t 5.96 6.47 5.73 5.68 4.88 Sensitive waste 4, 5 in t 21.97 18.74 16.51 14.99 15.54 Employees Employees (as of December 31) FTE 6 5,288 5,434 5,669 5,959 8,160 Fluctuation rate in % 5.1 5.5 5.3 4.4 4.8 Number of accidents MAQ 7 5.0 3.2 5.3 5.3 4.8 As a result of the combination of the business activities with Diana, only the key financial figures and numbers of employees are presented in the consolidated form.
    [Show full text]
  • Prospectus Dated 26 June 2020 Symrise AG (A Stock Corporation
    Prospectus dated 26 June 2020 Symrise AG (a stock corporation incorporated under the laws of the Federal Republic of Germany, having its corporate domicile in Holzminden, Federal Republic of Germany) € 500,000,000 1.375 per cent. Notes due 2027 Issue Price: 99.320 per cent. Symrise AG (the "Issuer", "Symrise" or "Symrise AG") will issue on 1 July 2020 (the "Issue Date") EUR 500,000,000 1.375 per cent. Notes due 2027 (the "Notes"). Unless previously redeemed in accordance with their conditions of issue, the Notes will be redeemed at par on 1 July 2027. The Notes will bear interest from and including 1 July 2020 to, but excluding, 1 July 2027 at a rate of 1.375 per cent. per annum, payable annually in arrear on 1 July in each year, commencing on 1 July 2021. This prospectus (the "Prospectus") constitutes a prospectus within the meaning of Article 6 of Regulation (EU) 2017/1129 of the European Parliament and the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading, as amended (the "Prospectus Regulation"). This Prospectus will be published in electronic form together with all documents incorporated by reference on the website of the Luxembourg Stock Exchange (www.bourse.lu) and the website of the Issuer (www.symrise.com). This Prospectus has been approved by the Commission de Surveillance du Sector Financier (the "CSSF") in its capacity as competent authority under the Prospectus Regulation. The CSSF only approves this Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation.
    [Show full text]
  • 2017 Annual Report Partnering for Shared Success 2017 Annual Report 2017
    2017 Annual Report Partnering for shared success 2017 Annual Report 2017 Givaudan – 2016 Annual Report Givaudan at a glance Givaudan at a glance Our business in 2017 million 109Locations worldwide 46Production sites 424R&D spend 11,170Full time employees Sales in North America CHF 1,352 million Production sites 9 Employees 2,231 Annual sales in mature markets Sales in Latin America CHF 618 million % Production sites 57 6 Employees 1,471 Flavour Division We make life taste delicious Sweet% goods Beverages% Confectionery Soft drinks We are dedicated to expanding the world’s expression through Baked goods Fruit juices flavours by bringing moments of delight with delicious flavour Sugar confectionery Instant beverages and taste experiences. Our customers – global, international, Chocolate Total 54% Chewing gum regional and local – are in the food and beverage industry and of Group sales span across key segments including beverages, sweet goods, savoury, snacks and dairy. We explore the globe for ingredients, innovate to bring our customers unique propositions, and Dairy % Savoury delight millions of consumers around the world. Ice cream and yoghurt % Ready-made meals Desserts Snacks Yellow fats (margarines) www.givaudan.com – our company – about Givaudan Soups and sauces Meat and poultry Disclosure 102 – 6, 102 – 7 Givaudan – 2017 Annual Report million emissions score ‘A Sense of Tomorrow’ 19.2Hours worked safely GHGScience-based targets for 2030 CDPLeadership level A A new sustainability approach Sales in Europe, Africa and Middle East CHF 1,723 million Production sites 18 Employees 4,819 Annual sales in high growth markets Sales in Asia Pacific CHF 1,358 million Production sites 13 43% Employees 2,649 Fragrance Division We live to perfume life Fragrance% Ingredients Fine F%ragrances and Active Beauty Signature fragrances The artistry of our perfumers encompasses a myriad of scented Line extensions stories for brands everywhere.
    [Show full text]
  • Table of Contents
    Table of Contents Foreword Letter from the Chairman 4 Letter from the CEO 6 Fragrance Division 9 Fine Fragrances 11 Consumer Products 12 Fragrance Ingredients 13 Flavour Division 15 Asia Pacific 16 North America 17 Europe, Africa and Middle East 17 Latin America 17 Research and Development 19 Fragrances 21 Flavours 22 Corporate Activities and Organisation 25 GivaudanAccessTM 26 Safety and Environmental Protection 27 Human Resources 28 Corporate Governance 30 Givaudan Securities 35 Financial Review 38 Consolidated Financial Statements 39 Consolidated Income Statement 39 Consolidated Balance Sheet 40 Consolidated Statement of Changes in Equity 41 Consolidated Cash Flow Statement 42 Notes to the Consolidated Financial Statements 43 Report of the Group Auditors 71 Pro forma Condensed Consolidated Income Statement (unaudited) 72 Pro forma Condensed Consolidated Income Statement 72 Notes to the Pro forma Condensed Consolidated Income Statement 73 Statutory Financial Statements of Givaudan SA 74 (Group Holding Company) Income Statement 74 Balance Sheet 75 Notes to the Financial Statements 76 Appropriation of Available Earnings of Givaudan SA 78 Report of the Statutory Auditors 79 Givaudan World-wide 81 Givaudan - Annual Report 2001 1 Traveller’s Tree The endemic Ravenala madagascariensis has been named the Traveller’s Tree because around one litre of water is accumulated in each leaf base. This water is very useful for travellers in an emergency; and if you are in such a situation and have to cut one of the stalks at the base with your machete, you may additionally enjoy a refreshing green and somewhat floral scent. It is said that a traveller in need, standing in front of the tree and making a wish, will have this wish fulfilled.
    [Show full text]
  • Symrise AG / Executive Board Contracts with Dr. Heinz-Jürgen Bertram, Hans Holger Gliewe and Bernd Hirsch Extended
    Symrise AG 08.12.2011 – 07:02 Uhr EANS-News: Symrise AG / Executive Board contracts with Dr. Heinz-Jürgen Bertram, Hans Holger Gliewe and Bernd Hirsch extended -------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Board of Directors (Appointments and Changes) Holzminden, December 8, 2011 (euro adhoc) - The Symrise AG Supervisory Board has extended the contract with Chief Executive Officer Dr. Heinz-Jürgen Bertram until the end of 2017. The contracts with Hans Holger Gliewe, Board Member for the Flavor & Nutrition division, and Chief Financial Officer, Bernd Hirsch, were extended until the end of 2015. This step ensures con-tinuity in Symrise´s senior management team. Achim Daub who is responsible for the Scent & Care division is also part of the Board. Dr. Thomas Rabe, Chairman of the Supervisory Board, said: "We are delighted about the contract extensions for Dr. Bertram, Mr. Gliewe and Mr. Hirsch. Together with their colleague Achim Daub, they form an experienced and successful management team that will continue to lead the company with a steady hand and clear perspective. This continuity is a very strong signal to staff, customers and shareholders. Symrise is excellently positioned, both strategically and financially, and has best possible prospects for further profitable growth. The Supervisory Board looks forward to continuing the successful working relationship with the Executive Board over the coming years." Dr. Heinz-Jürgen Bertram has meanwhile over twenty years´ service at Symrise and its predecessor company, Haarmann & Reimer. Mr. Ber-tram, who has a PhD in chemistry, was appointed to the Executive Board in 2006 and became Chief Executive Officer in 2009.
    [Show full text]
  • Perfume Engineering Perfume Engineering Design, Performance & Classification
    Perfume Engineering Perfume Engineering Design, Performance & Classification Miguel A. Teixeira, Oscar Rodríguez, Paula Gomes, Vera Mata, Alírio E. Rodrigues Laboratory of Separation and Reaction Engineering (LSRE) Associate Laboratory Department of Chemical Engineering Faculty of Engineering of University of Porto Porto, Portugal P. Gomes and V. Mata are currently at i-sensis company S. João da Madeira, Portugal AMSTERDAM • BOSTON • HEIDELBERG • LONDON NEW YORK • OXFORD • PARIS • SAN DIEGO SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier Butterworth-Heinemann is an imprint of Elsevier The Boulevard, Langford Lane, Kidlington, Oxford, OX5 1GB, UK 225 Wyman Street, Waltham, MA 02451, USA First published 2013 Copyright r 2013 Elsevier Ltd. All rights reserved No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or any information storage and retrieval system, without permission in writing from the publisher. Details on how to seek permission, further information about the Publisher’s permissions policies and our arrangement with organizations such as the Copyright Clearance Center and the Copyright Licensing Agency, can be found at our website: www.elsevier.com/permissions This book and the individual contributions contained in it are protected under copyright by the Publisher (other than as may be noted herein). Notices Knowledge and best practice in this field are constantly changing. As new research and experience broaden our understanding, changes in research methods, professional practices, or medical treatment may become necessary. Practitioners and researchers must always rely on their own experience and knowledge in evaluating and using any information, methods, compounds, or experiments described herein.
    [Show full text]
  • United States Patent (19) 11 Patent Number: 5,792,740 Mimoun Et Al
    IIIUSOO5792740A United States Patent (19) 11 Patent Number: 5,792,740 Mimoun et al. 45) Date of Patent: Aug. 11, 1998 (54) FRAGRANT MACROCYCLIC LACTONES S. Schreiber, "Fragmentation Reactions of ol-Alkoxy Hydroperoxides and Application to the Synthesis of the (75) Inventors: Hubert Mimoun, Challex, France; Macrollide (E)-Recifeiolide". J. Am. Chen, Soc., vol. 102 Pierre-Alain Blanc, Crassier, (1980), pp. 6163-6165. Switzerland S. Schreiber et al., "Iron/Copper Promoted Fragmentation Reactions of o-Alkoxy Hydroperoxides". Tetrahedron, vol. 73) Assignee: Firmenich SA. Geneva, Switzerland 42 (1986), pp. 2945-2950. J. Becker et al. "Eine neuartige Fragmentierung bicyclis (21) Appl. No.: 811,991 cher Enolather Verfahren zur Darstellung macrocyclischer 22 Filed: Mar. 5, 1997 Lactone". Hely. Chim. Acta, vol. 54 (1971), pp. 2889–2895. (51) int. Cl. ......................... A61K 7/46 Primary Examiner-James H. Reamer (52) U.S. C. ........................ 512/11; 252/174.11; 252/8.6: Attorney, Agent, or Firm-Pennie & Edmonds LLP 424/76.4; 549/266 58) Field of Search ......................... 512/11; 252/174.11. 57 ABSTRACT 252/8, 6; 424/76.4; 549/266 Perfuming ingredients which include at least one macrollide of formula (56) References Cited U.S. PATENT DOCUMENTS 3,856,815 12/1974 Hopp et al. ............... ............. 260/333 3,890,353 6/1975 Becker .................. O 260/343 5,266,559 1/1993 Frankhauser et al. ... 512/11 5,354,735 10/1994 Demole et al. ........ ... 512/8 FOREIGN PATENT DOCUMENTS having a double bond in one of the positions indicated by the O 424787 10/1996 European Pat. Off. ................. 512/11 dotted lines and wherein the symbol R represents a hydrogen 1436465 12/1995 Russian Federation ................
    [Show full text]
  • IFF-Annual-Report-2019-Full Spread.Pdf
    THE NEXT ANNUAL 2019 REPORT ERA OF IFF INTERNATIONAL FLAVORS & FRAGRANCES INC. | ANNUAL REPORT 2019 YEAR IN REVIEW Recognized 2 externally with a 2019 Noteworthy Award from Diversity Inc Top 50 Companies for Diversity Announced anticipated combination with DuPont’s Nutrition & Biosciences (N&B) business 0 Awarded a place on CDP’s “ ” Named to Barron’s 100 Most prestigious "A" List for Sustainable Companies list Climate Change and for second consecutive year Water Security A Lister 1 Achieved significant cost synergies of Announced intention to expand Tastepointsm model in multiple ~50M geographies around the from Frutarom world to serve dynamic well ahead of our 9 middle-market customers year-one targets Opened the Delivered a industry’s largest significant increase solar array at its in operating and free Union Beach, cash flow** – increasing New Jersey 60% and 73% respectively property versus prior year Reduced net debt to EBITDA FULL-YEAR 2019 RESULTS leverage by 40 bps to Company Financials 3.2x ADJUSTED OPERATING SALES PROFIT* $5.1 $793 BILLION MILLION Andreas Fibig Reconfirmed Chairman and commitment to ADJUSTED EPS EX Chief Executive Officer mitigate climate change ADJUSTED EPS* AMORTIZATION* by signing the UN’s Business Ambition for 1.5°C: Our Only Future pledge $4.88 $6.17 DEAR FELLOW Five years ago, IFF boldly re-imagined what this company could SHAREHOLDERS, be. As a CEO new to the role, but not new to the company, I was committed to working with the innovators and visionaries within CUSTOMERS & the IFF fold to re-establish the Company’s leadership position * Adjusted Operating Profit, Adjusted EPS & Adjusted EPS Ex Amortization are Non-GAAP metrics.
    [Show full text]
  • Annual Report 2015 Responsible Growth. Shared Success. Annual 2015 Report Worldreginfo - 7F99e2b6-E3a3-4C76-Ad4e-6Bad0f9494f6 Key Figures
    Annual Report 2015 Responsible growth. Shared success. Annual 2015 Report WorldReginfo - 7f99e2b6-e3a3-4c76-ad4e-6bad0f9494f6 Key figures Key figures Strong financial performance 1 – Sales of CHF 4.4 billion, up 2.7% on a LFL basis. CHF Group salesbillion – EBITDA of CHF 1,070 million, up 8.0% in 4.4 local currencies. – EBITDA margin improved to 24.3% from Organic sales %growth 23.9% in 2014. 2.7 – Net income of CHF 635 million, up 12.7% year-on-year. EBITDA margin% – Free cash flow of 16.4% of sales, compared to 24.3 13.7% in 2014. – Proposed dividend of CHF 54.00 per share, up 8.0% year on year. For the year ended 31 December, in millions of Swiss francs, except for cash dividend and earnings per share data 2015 2014 Group Sales 4,396 4,404 Fragrance sales 2,096 2,108 Flavour sales 2,300 2,296 Like-for-like sales growth 2.7% 3.7% Gross profit 2,030 2,027 as % of sales 46.2% 46.0% EBITDA 2 1,070 1,053 as % of sales 24.3% 23.9% Operating income 794 760 as % of sales 18.1% 17.3% Income attributable to equity holders of the parent 635 563 as % of sales 14.4% 12.8% Operating cash flow 915 806 as % of sales 20.8% 18.3% Free cash flow 720 604 as % of sales 16.4% 13.7% Net debt 677 795 Leverage ratio 15% 17% Cash dividend 54 50 Earnings per share − basic (CHF) 68.98 61.18 1.
    [Show full text]