Symrise continued its growth course in the first half of 2023 and achieved a sales increase of 6.8% to € 2.414 bn (H1 2022: € 2.260 bn).  

Excluding portfolio and exchange rate effects, sales increased organically by 8.0%. According to the company, both segments contributed to this positive development and grew sales in a tense global economic environment.

Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 446 m (H1 2022: € 486 m). The group’s profitability (EBITDA margin) was 18.5% (H1 2022: 21.5%). Without one-time effects in segment Scent & Care EBITDA came to € 475 m. This was 1.5% higher than previous year’s EBITDA of € 468 m, normalized by the one-time gain of € 18 m for the sale of Velcorin® business in 2022. The normalized EBITDA margin reached 19.7%, which was below previous year’s normalized EBITDA margin of 20.7% mainly due to higher raw material, energy, and operating costs.

Dr Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG: “Symrise has a proven and stable business model with comparatively low risk content. The group is broadly diversified and robustly positioned. However, persistently high inflation has resulted in cost increases. The company has been able to partially offset until now through strict cost management and price increases. Nevertheless, we are starting the second half of the year with confidence. With the expansion of our production capacities and the collaboration with Sunner in China as well as with Swedencare, we are reinforcing our leadership position in the pet food and pet care businesses. Symrise recently inaugurated a new creation hub in Shanghai for Fine Fragrances and a center of expertise in Paris for Cosmetic Ingredients. These measures reflect our ambition to enhance our competitiveness in a sustainable way.”