Symrise again raises sales significantly in 2023

Sales development in the Aroma Molecules division was negatively impacted in particular by a difficult market environment and the production stoppage at Colonel Island, USA, following a fire in November 2022. Moreover, demand for fragrance ingredients and menthol was severely affected by customer-side inventory reductions and increasing competition. Overall, sales were significantly down on the previous year.

But, Sales by the Cosmetic Ingredients division continued to develop very positively, again posting double-digit percentage organic growth, especially in the EAME and Latin America regions.

Although, In 2023, Scent & Care generated adjusted EBITDA of € 277 million, which was 4.9 % lower than in the previous year (2022: € 291 million), due especially to increased raw material prices and higher operating costs. The adjusted EBITDA margin was 15.8 % (2022: 17.1 %).

Highlights

• Group sales increase by 2.4 % to € 4,730 million (2022: € 4,618 million); organic growth of 7.9 %
•  Adjusted EBITDA of € 903 million slightly below previous year’s figure (2022: € 922 million)
• Adjusted EBITDA margin of 19.1 %
• Symrise plans 14th consecutive dividend increase
• Symrise reaffirms long-term profitable growth course
• Company ideally positioned concerning the planned CEO change