Symrise AG, a leading global provider of flavors, fragrances and cosmetic ingredients, has reported a successful start to the 2024 fiscal year with notable growth across its business segments. Supported by robust demand and a strong market position, Symrise achieved a sales increase in its reporting currency by 5% to €1,291.6 million compared to the same period last year. The organic growth of 10.9% primarily resulted from higher volumes.
Dr. Jean-Yves Parisot, chief executive officer of Symrise AG, expressed his satisfaction with the company's performance, stating, "As the new CEO, I am especially pleased that Symrise has been able to build on last year’s good business development. Despite the sustained volatility in our markets, we are very optimistic for the months ahead and expect robust demand. Our diversified portfolio, our innovative offers and global positioning give us the necessary strength to continue leveraging our growth potential and thus create sustainable value for our customers and ourselves."
Sales of Scent & Care, the business with fragrance applications, aroma chemicals and cosmetic ingredients, increased by 13.7% year-on-year to €516.4 million. The fragrance division saw dynamic growth in the luxury segment, while the aroma molecules division experienced strong demand for all product groups.
The Taste, Nutrition & Health segment, which includes flavor solutions for food and beverages, pet food, and healthy nutrition, achieved organic sales growth of 7.5%. The food & beverage division and the pet food division both saw double-digit percentage growth rates, with the Savory product applications in particular posting significant growth.
Symrise reaffirmed its long-term growth and profitability targets for 2024, aiming for faster growth than the market and sales of €7.5 billion to €8.0 billion by 2028. Additionally, the company is implementing measures to increase profitability, targeting an EBITDA margin of around 20% in 2024 and 20% to 23% in the medium term.
For more information, visit www.symrise.com.
