Symrise continues growth course in the first half of 2023

Symrise continued its growth course in the first half of 2023 and achieved a sales increase of 6.8 % to 2,414 million (H1 2022: 2,260 million). Sales increased organically by 8.0 %.

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

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.