FX.co ★ Symrise H1 Net Income Rises, Organic Sales Growth At 11.5%; Confirms Long-term Targets

Symrise (SYIEY.PK, SYIEF.PK) has announced a net income of 239.5 million euros for the first half, marking a 27.7% increase from the same period last year. The earnings per share rose to 1.71 euros, up from 1.34 euros. The company's EBITDA reached 530 million euros, reflecting an 11.5% growth from the previous year's adjusted figures. Additionally, the EBITDA margin stood at 20.7%, surpassing last year's adjusted margin of 19.7%.

First-half sales surged by 6.3% to 2.56 billion euros. When excluding portfolio and exchange rate effects, the organic sales growth for this period was 11.5%.

Symrise has reaffirmed its growth and profitability objectives, anticipating that it will continue to outpace the relevant market. For 2024, the company aims for organic sales growth between 5% and 7%. Regarding profitability, the target is an EBITDA margin around 20%.

Looking further ahead, Symrise has set an ambitious goal to increase sales to between 7.5 billion and 8.0 billion euros by 2028. The company also intends to maintain the EBITDA margin within a 20% to 23% range.