EQS-News

Symrise sees successful start into the 2024 fiscal year

EQS-News: Symrise AG / Key word(s): Quarterly / Interim Statement/Development of Sales Symrise sees successful start into the 2024 fiscal year (news with additional features) 25.04.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement.

---

Trading Update, January – March 2024
 
Holzminden, Germany, April 25, 2024



Symrise sees successful start into the 2024 fiscal year

— Organic growth of 10.9 %
— Sales growth of 5.0 % in reporting currency
— Group sales increase to € 1.3 billion in the first quarter
— 2024 targets and long-term targets through to 2028 confirmed


Symrise AG saw a successful start into the 2024 fiscal year. Supported by strong demand and the company’s solid positioning, Symrise increased sales in its reporting currency by 5 % to € 1,291.6 million (Q1 2023: € 1,230.2 million). The organic growth of 10.9 % resulted primarily from higher volumes.

Dr. Jean-Yves Parisot, Chief Executive Officer of Symrise AG: “As the new CEO, I am especially pleased that Symrise has been able to build on last year’s good business development. Despite the sustained volatility in our markets, we are very optimistic for the months ahead and expect robust demand. Our diversified portfolio, our innovative offers and global positioning give us the necessary strength to continue leveraging our growth potential and thus create sustainable value for our customers and ourselves. We are on course to achieve our targets for the current year and our long-term targets through to 2028 as communicated.”

Scent & Care: High demand for fragrances and cosmetic ingredients

Sales of Scent & Care, the business with fragrance applications, aroma chemicals and cosmetic ingredients, increased by 13.7 % year on year to € 516.4 million (Q1 2023: € 454.0 million). In organic terms, sales rose by 16.9 %.

In the Fragrance division, growth remained dynamic in the luxury segment. The Fine Fragrance business unit benefited from this, recording high double-digit percentage growth compared to the same quarter the previous year. Sales of the Consumer Fragrance business unit also grew by a double-digit percentage, driven by body care and household products.