Developments within our Market
Beyond translation impacts, Symrise
is not exposed to any material foreign exchange exposure due to natural
hedges provided by the global production network.
We believe emerging markets will remain the driving force for global growth and may even be the “locomotive” in 2008. Emerging markets have become a less risky asset class in many cases and have reduced their dependence on mature economies significantly.
To summarize, Symrise is anticipating a similar, albeit slightly weaker scenario for the global economy in 2008. This would result in the F&F market growing at a similar pace next year and we believe Symrise can generate similar performance to 2007.