on Symrise AG (isin : DE000SYM9999)
Symrise Reports Q1 2024 Profitable Growth Despite Global Challenges
Symrise AG, a global leader in fragrances, flavorings, and cosmetic ingredients, demonstrated robust financial performance in the first half of 2024. Group sales rose by 6.3% to €2,565 million, with organic growth reaching 11.5%. The EBITDA margin stood at 20.7%, reflecting enhanced profitability through stringent cost management. Business free cash flow soared, more than doubling to €226 million.
The company reaffirms its growth target for 2024, projecting sales growth of 5-7% organically and maintaining an EBITDA margin around 20%. This outlook aligns with Symrise’s long-term aspiration to increase sales to €7.5 - 8.0 billion by 2028.
The Taste, Nutrition & Health segment reported 10.0% organic sales growth, bolstered by strong demand in EAME and Latin America. The Scent & Care segment achieved a 14.1% organic sales increase, driven by significant gains in Fragrances and Cosmetic Ingredients divisions.
Net income for the shareholders rose by 27.7% to €239 million. Earnings per share increased from €1.34 to €1.71. Operating cash flow improved significantly, reaching €288 million. Symrise’s diversified portfolio and regional presence continue to support its profitable growth trajectory amid market volatility.
R. E.
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