26/10/2022 | Industry, Ingredients

Following a strong third quarter, Symrise again raises forecast for the year as a whole

After nine months, Symrise recorded organic sales growth of 11.3% (Q3 2022: 13.6%). Taking into account portfolio effects such as acquisitions or divestments as well as currency translation effects, group sales in the first nine months of the year increased to € 3.493 bn (9M 2021: € 2.883 bn).  

This corresponds to growth of 21.2% compared to the same period of the previous year and of 26.4% compared to the same quarter in the previous year.

In the wake of the solid business development in the first nine months, the company is now pursuing organic sales growth of more than 10% (previously: significantly above 7%) for 2022 as a whole. Profitability shall remain at a high level in 2022, with an EBITDA margin of around 21%. The aim is to continue to combine organic and inorganic growth in the form of targeted strategic acquisitions together with continued strict cost management and price increases.
By 2025, group sales are expected to increase to € 5.5 to € 6.0 bn, supported by annual growth of 5 to 7% (CAGR) and targeted acquisitions. Profitability should remain within a target corridor of 20 to 23% (EBITDA margin) in the long term.