Symrise Half-Year Report 2024
Symrise continued its growth course in the first half of 2024 and achieved a sales increase of 6.3% to € 2,565 million (H1 2023: € 2,414 million). Excluding portfolio1) and exchange rate effects, sales increased organically by 11.5%. Both segments contributed to this positive development.
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 530 million, an increase of 11.5% compared with the previous year’s figure) of € 475 million. Profitability (EBITDA margin) was 20.7%, which was significantly higher than the previous year’s figure 2) of 19.7% due to lower raw material costs and strict cost management.
The consolidated net income attributable to the shareholders of Symrise AG for the first six months stood at € 239 million, which was 27.7% higher than the previous year’s figure of € 188 million.
Highlights
- Organic sales growth of 11.5% in the first six months
- Sales in the reporting currency in the first half of the year 6.3 % above the same period last year
- EBITDA margin of 20.7% significantly higher than the previous year
- Growth target for 2024 confirmed at 5 to 7% and an EBITDA margin of around 20% targeted for 2024
- Despite geopolitical tensions and a persistently high inflation rate, earnings development in the first half of 2024 was satisfactory overall. Both segments developed positively and delivered on the expectations defined at the start of the year. At Group level, gross profit improved significantly compared to the previous year, increasing by 13.5% to € 998 million (H1 2023: € 879 million)
