06/08/2020 | Industry, Ingredients

Symrise achieves highly profitable growth in a challenging market environment

Symrise very successfully continued its profitable growth course in the first half of 2020 also during the global coronavirus pandemic. According to the press release, the Group increased its sales by 7.6% to € 1.821 bn in an economically challenging market environment. In organic terms – i.e. excluding the portfolio effect of the ADF/IDF acquisition and exchange rate effects – sales were up by 3.4%. All segments contributed to this positive development.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 11.9% to € 393 m as compared to the previous year’s level normalized for acquisition and integration costs for ADF/IDF (H1 2019: € 351 m). Profitability developed particularly well: The EBITDA margin rose to 21.6% and lies thus significantly higher than the profitability target for 2020. The net income for the reporting period increased to € 169 m. Against the backdrop of the strong business performance and profitability trend in the first half of the year, Symrise is raising its full-year EBITDA margin guidance from 20% to a range of 21 to 22%.