Symrise AG continues its growth course in the first half of 2022. The company saw a strong increase in sales and profit, with organic sales growth coming to 10.2%.
Highlights of the report include:
- The Symrise Group achieved sales growth of 18.5% in the first half of 2022.
- Taste, Nutrition & Health achieved organic sales growth of 12.7% in the first half of 2022. Taking into account portfolio and exchange rate effects, the segment’s sales amounted to €1,398 million in the reporting currency and thus exceeded the previous year’s figure (H1 2021: €1,159 million) by 20.6%.
- Scent & Care achieved organic growth of 6.3% in the first half of 2022. Taking into account portfolio and exchange rate effects, sales in the first half of 2022 amounted to €863 million in the reporting currency, 15.2% higher than in the same period of the previous year (H1 2021: €749 million).
- Scent & Care generated an EBITDA of €171 million in the first half of 2022; the result thus exceeded the same period of the previous year (H1 2021: €162 million) by €9 million.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 15.7% to €486 million compared to the same period in the previous year.
- The consolidated net income for the period attributable to shareholders of Symrise AG for the first six months of 2022 amounted to €229 million, which was €33 million higher than the amount of the previous year, €196 million. Earnings per share rose by 13% to €1.64, up from €1.45 in the first half of the previous year.
- The group’s profitability reached a good level of 21.5%, slightly below the previous year’s figure of 22.0% mainly due to higher raw material and operating costs.
Heinz-Jürgen Bertram, Ph.D., chief executive officer of Symrise AG, said, “In a volatile business environment caused by rising commodity prices, ongoing global supply bottlenecks and the Russia-Ukraine war, we managed to continue on our profitable growth course. We achieved this by relying on our robust business model, diversified application portfolio and broad regional presence and customer base. Demand increased significantly in many areas. Customers have particularly increased their demand for applications for cosmetics, fine fragrances and pet food. Solutions for beverages and food have also performed very well and considerably contributed to the double-digit organic growth. In light of the dynamic business development, we have raised our sales forecast and are now targeting organic sales growth of significantly above 7% for the current fiscal year. While commodity and energy prices continue to increase, we want to maintain profitability at a high level with an EBITDA margin of around 21%.”