Symrise Achieves Strong Profit Growth of 12.2%

Symrise AG reported increase in profit for full-year 2019 on strong organic business growth.

Despite higher expenses, Symrise’s EBITDA grew by 12.2 % to EUR707.2 million ($802.6 million) from prior year’s EUR630.5 million ($715.8 million).

The company’s sales increased by 8.0% to EUR3,408 million ($3869 million) from prior year’s EUR3,154 million ($3580 million). The company achieved a 5.7% organic growth rate. As a result, Symrise was again one of the fastest growing companies in the industry.

The acquisition of the ADF/IDF Group, a leading US supplier of poultry and egg-based protein specialties, completed in November 2019, contributed approximately EUR32 million ($36.3 million) to Group sales.

The acquisition of ADF/IDF also reinforced its position in North America and expanded its product portfolio in the pet food market and in natural product solutions for the food industry.

According to the company, the strong performance was carried by good demand across all segments and regions.

In the Scent & Care segment, sales grew by 7.2% to EUR1,419.1 million ($1611.1 million) from prior year’s EUR1,324.1 million ($1503.2 million).

Flavor achieved a 5.6% increase in sales to EUR1,257.3 million ($1427.4 million) from prior year’s EUR1,191.1 million ($1352.2 million).

The Nutrition segment achieved in 2019 a 14.5% increase in sales to EUR731.5 million ($830.5 million) after sales of EUR638.8 million ($725.2 million) in 2018.

By 2025, the Company plans to increase its sales from EUR5.5 billion ($6.24 billion) to EUR6.0 billion ($6.8 billion) by means of organic growth at an annual rate of 5 to 7% (CAGR), combined with targeted complementary acquisitions. Long-term, Symrise aims to achieve an EBITDA margin within the target corridor of 20 to 23%.