Symrise AG reports an increase of US$ 5.38B sales in its FY 2024
This performance underscores Symrise’s strategic focus on innovation and sustainability.
GERMANY – Symrise AG, a global supplier of chemicals and functional ingredients, has reported sales of Euro 4.9 billion (US$5.38 billion), representing a 5.7% increase.
Organic sales growth amounted to 8.7 %, excluding portfolio and currency translation effects. (EBITDA) increased to € 1.3 billion (US$1.43 billion) from € 903 million (US$991.78 million).
Dr. Jean-Yves Parisot, Chief Executive Officer of Symrise, said, “Symrise achieved strong and profitable growth in the past fiscal year, again outperforming the market by a significant margin. Our ONE Symrise strategy gives us a strong foundation for leveraging our potential in what remains a challenging geopolitical and economic environment.
He mentioned that, due to a constant focus on growth, efficiency, and further optimisation of the portfolio, they are poised to achieve another solid, sustainable, and profitable result in the current fiscal year.
Net income attributable to the shareholders of Symrise AG totaled €478 million (US$525 million), which was €138 million (US$151.57 million) higher than the previous year’s figure of €340 million (US$373.43 million).
Earnings per share were €3.42 (US$3.76), which is €0.98(US$1.08) above the previous year’s figure of €2.44(US$2.68).
Outlook
The Group predicted that it will grow faster than the relevant market, with long-term growth of around 3% to 4%.
For the Group, the expected long-term growth rate of 5% to 7% (CAGR) remains unchanged and is also anticipated to be achieved by 2025.
Symrise aims to achieve an EBITDA margin of approximately 21% in 2025. In the medium term, the goal is to achieve an EBITDA margin of 21% to 23%.
In the midterm, the business aims for a free cash flow of more than 14% of sales.
Symrise to build new facilities in Giza
Recently, the company signed a contract for a 30,000 m² land plot in Giza, developed by Industrial Development Group (IDG) to build new facilities.
As indicated by the company, moving into site e2 on October 6th, the Industrial City of Giza will support it in executing its growth plans across Africa and the Middle East.
It will also bring together production and innovation capabilities to advance collaboration.By signing the contract, it will consolidate its facilities in Egypt at one location.
This will improve business operations and communication efficiency across functions while creating a workspace that enables people to work closely together.
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