Trading Statement January - March 2025

Holzminden, April 29, 2025                                                  

Symrise delivers solid growth in Q1
and reaffirms outlook

— Achieved organic growth of 4.2%
— Delivered sales of €1.3 billion driven primarily by higher volumes
— Reaffirms full year 2025 guidance: Organic growth 5-7% / EBITDA margin  
     around 21% / Business free cash flow around 14%
— Conducted strategic assessment of Chemicals Production activities
 

Symrise AG had a healthy start into the 2025 fiscal year, with organic growth of 4.2% in the first quarter. Reported sales rose 2.0% to €1,317 million (Q1 2024: €1,292 million) supported by the strength of the Group’s diversified, innovation-led portfolio as well as higher volumes across both segments and sustained customer demand.

Dr. Jean-Yves Parisot, CEO of Symrise AG: "We once again delivered profitable growth despite continued macroeconomic uncertainty. The Group’s performance is underpinned by our diversified portfolio and unique global platform. We are capturing growth and enhancing margin quality through focused execution of our ONE Symrise strategy, continuous investments in innovation, and stronger alignment across our businesses. We remain confident in our outlook for the current year and in our ability to deliver profitable above-market growth through 2028. Symrise is well positioned to create sustainable, long-term value for our customers, partners and shareholders.”

Taste, Nutrition & Health: Strong growth in food and beverage

The Taste, Nutrition & Health segment — comprising Symrise activities in flavors and natural ingredients for food and beverages, as well as pet food and healthy solutions — achieved organic growth of 5.9% in the first quarter. Sales rose to €799 million (Q1 2024: €775 million).

In the Food & Beverage division, the business units for savory and sweet applications delivered mid-single digit organic growth. Beverage applications achieved double-digit organic growth. The EAME (Europe, Africa, Middle East) and Asia/Pacific regions showed particularly strong business growth. Overall, the division delivered industry-leading growth rates and gained market share through its differentiated set of product solutions.

The Pet Food division recorded a moderate sales increase in the first quarter with strong growth in Pet Food Palatability, partially offset by softer performance in Pet Nutrition. The ongoing capacity expansion in high-growth regions is progressing and will support further international growth in line with the Group’s long-term strategy.

Scent & Care: Strong momentum for fragrance and aroma molecules

The Scent & Care segment — comprising Symrise’s activities in fragrance applications, aroma chemicals and cosmetic ingredients — recorded organic sales growth of 1.7% in the first quarter. Sales increased slightly to €518 million (Q1 2024: €516 million). The segment achieved stable development despite a tough comparison against very strong sales of cosmetic ingredients in the prior-year period.

The Fragrance division achieved high-single-digit organic growth, supported by strong momentum in the Fine Fragrances, Consumer Fragrance, and Oral Care business units, given high project vitality in personal care and household applications. Growth continued to be robust in the Latin America, EAME, and Asia/Pacific regions.

Sales in the Cosmetic Ingredients division were lower year-over-year due to very high comparables in sunscreen filters. The division remains strategically well positioned with a differentiated product offering — including micro protection, cosmetic actives, botanicals, and sunscreen filters — and is expected to return to superior, above market growth rates going forward.

The Aroma Molecules division also delivered high-single-digit growth supported by strong momentum and robust demand in North America and Asia/Pacific regions.

Symrise reaffirms growth and profitability targets for 2025 and 2028

The Group reaffirms its financial targets for the current year and its mid-term ambitions through 2028, which are underpinned by an unwavering focus on executing the ONE Symrise strategy.

Symrise is leveraging the strength of its resilient and diversified portfolio, industry-leading R&D, and close customer partnerships to manage complexity and drive scalable, profitable growth. Its international footprint and balanced end-market exposure positions the Group to nimbly manage external pressures, including the impact of evolving tariff regimes. Where needed, price adjustments are being implemented in close coordination with customers to offset input cost.

Symrise expects to grow above the anticipated annual market growth rate of approximately 3% to 4%. The Group reaffirms the 2025 guidance to achieve an organic growth of 5% to 7%, an EBITDA margin of around 21% and a business free cash flow of around 14% (as percentage of sales).

The Group also reaffirms 2028 mid-term targets, aiming for an organic growth of 5% to 7% (CAGR) and an EBITDA margin in the range of 21% to 23%. Disciplined capital allocation and operating efficiency will continue supporting business free cash flow of more than 14%.

Progressing our ONE Symrise strategy

As outlined at Capital Markets Day, the ONE Symrise strategy is underpinned by three pillars of growth, efficiency, and portfolio management. During the first quarter, we further progressed our strategic execution across all three pillars, including a focus on building a strong portfolio to meet the market trends in fast growing and profitable areas. 
As such, during the past months the Group executed a strategic assessment of the existing footprint of the chemicals production activities. That includes exploring strategic options for terpene ingredients, with further updates to be provided in the coming quarters.

About Symrise: Symrise is a global supplier of fragrances and flavors, cosmetic active ingredients as well as functional ingredients. Its customers include perfume, cosmetics, food and beverage manufacturers, the pharmaceutical industry and producers of dietary supplements and pet food. With sales of around €5.0 billion in the 2024 financial year, the company is one of the world's leading providers. The Group, headquartered in Holzminden, Germany, has more than 100 locations in Europe, Africa and the Middle East, Asia, North and Latin America. Together with its customers, Symrise develops new ideas and market-ready concepts for products that form an indispensable part of everyday life. Economic success and corporate responsibility are inextricably linked. Symrise – always inspiring more...

Financial Calendar 2025

May 20 - Annual General Meeting

July 30 - Half-Year Report January - June 2025

October 28 – Trading Statement January - September 2025