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Symrise AG (0G6T.L)

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3,154,032,128.00+14.57 (+0.00%)
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  • EQS Group

    Symrise starts dynamically into the fiscal year 2021 (news with additional features)

    DGAP-News: Symrise AG / Key word(s): Quarter Results28.04.2021 / 07:30 The issuer is solely responsible for the content of this announcement.Trading update January - March 2021 Organic growth of 10.5 % in the first quarter Group sales rise to € 950 million Targets for 2021 and medium-term targets until 2025 confirmed Symrise Group has dynamically started into the new business year and increased its sales organically by 10.5 % in the first quarter of 2021. Taking account of negative currency translation effects, sales rose by 3.5 % to € 949.6 million (Q1 2020: € 917.1 million) compared to the prior-year period. In spite of the global coronavirus pandemic, all segments recorded strong demand and achieved high organic growth. Sales for the first quarter also reflected catch-up effects resulting from delivery backlogs caused by the cyber-attack in December."Symrise AG has started very well into the first quarter of 2021. The order activities of our customers continued to be defined by the global coronavirus pandemic. We therefore again recorded particularly high demand for applications for hygiene and oral care products, cooking at home products as well as for pet food solutions. In the first quarter of this year, we also processed the order backlog that resulted from the criminal cyber-attack last December. Furthermore, we have completely reinstated our IT systems which are fully operational again. We see ourselves very well positioned for the coming months," said Dr. Heinz Jürgen Bertram, CEO of Symrise AG. "Battling the pandemic will continue to define everyday lives as well as economic conditions in 2021. However, we expect that the increasing vaccination rates will support the economic recovery. We expect continued reliable demand and will continue to drive forward our growth initiatives. We aim at organic growth of 5 to 7 % for the current fiscal year."Scent & Care with good demand for care and hygiene products, and cosmetic ingredientsScent & Care, the business with fragrances, aroma molecules and cosmetic ingredients, generated sales of € 373.2 million and grew organically by 8.3 % (Q1 2020: € 368.4 million). Taking negative currency translation effects into account, sales in reporting currency increased by 1.3 %.Sales in the Fragrance division developed very pleasingly and resulted in organic growth in the double-digit percentage range. The main growth drivers were the Consumer Fragrance and Oral Care business units. Consumer Fragrance increased revenues particularly in the regions North and Latin America and Asia/Pacific. Oral Care reported the biggest growth in EAME (Europe, Africa, Middle East) and Asia/Pacific. The Fine Fragrances business unit, with perfumes in the luxury segment, was most affected by the coronavirus pandemic in the course of 2020. However, over recent months, it performed well and recorded a steady recovery.During the first quarter of 2021, sales in the Aroma Molecules division were slightly below the prior-year quarter, primarily caused by lower demand for fragrances. Conversely, positive momentum came from the menthols division, which generated double-digit percentage growth. Asia/Pacific and EAME regions achieved the highest growth here.Sales in the Cosmetic Ingredients division developed very positively in the first quarter of the current year with organic growth in the double-digit percentage range. All regions and application areas contributed to this advance. Sun protection products were the only application area which continued to reflect the consequences of the global travel restrictions owing to the coronavirus pandemic.Flavor grows with savory products and beverage applicationsIn the Flavor Segment - the business with flavors for food and beverages - sales increased organically by 9.1 % in the first quarter. Taking negative currency translation effects into account, sales in reporting currency rose by 2.8 % to € 331.5 million (Q1 2020: € 322.6 million).Applications for beverages and savory products delivered the strongest organic growth in the EAME region, primarily in the national markets of Germany, Ireland, Russia, France, and Spain. Sales in applications for sweets generated moderate organic growth during the first quarter.Asia/Pacific grew organically in all application areas in the high single-digit or double-digit percentages range. The strongest growth was achieved in the application area for sweet products with global and regional customers. The national markets of China, Vietnam, India, and the Philippines developed especially dynamically.In North America, the application areas for beverages and savory products increased their sales organically by double-digit figures each. Demand was particularly strong for beverage applications and for solutions for culinary products. The application area for sweet products generated moderate organic growth.The business in Latin America developed very dynamically as well. In this important growth region all application areas also generated double-digit organic sales growth. In particular, the national markets of Mexico, Brazil, and Argentina underwent very positive developments. The application area for savory products generated largest growth with culinary products and seasonings. Furthermore, taste solutions for beverages and dairy products experienced strong demand.Nutrition with strong growth in all application areasThe Nutrition segment, comprising applications for food, pet food, probiotics and activities of ADF/IDF generated remarkable organic growth of 16.1 % in the first quarter. Taking negative currency translation effects into account, sales increased by 8.3 % to € 244.8 million (Q1 2020: € 226.1 million) compared to the prior-year quarter.All business units underwent very positive development in the first three months and achieved organic growth in the double-digit percentage range.In the first quarter, the Pet Food business unit again achieved strong organic growth in the double-digit percentage range. All regions contributed to this positive development, the most important contributors being Latin America and EAME.The Food business unit also reported notable success in the first quarter. Across all regions, it achieved single or double-digit growth. The national markets of Japan and the USA developed particularly positively.Once again, the business development of ADF/IDF exceeded expectations in the first quarter and also posted strong organic sales growth within the double-digit percent range. This was driven by high growth in the USA.The Probiotics business unit, including the majority shareholding in the Swedish company Probi AB, grew by a double-digit percentage amount during the first three months. The North American and EAME regions underwent particularly dynamic growth here.Confident for the current fiscal yearIn spite of the ongoing global coronavirus pandemic, Symrise continues to be fully operational and retains full delivery capability. With its global presence, the continually growing and diversified portfolio and its broad customer base, the Company considers itself to be robust and solidly positioned also in the current challenging market environment.On 1 April 2021, Symrise successfully closed the acquisition of the Fragrance and Aroma Chemicals business from Sensient. This acquisition enables the Group to strengthen its backward integration for renewable raw materials and strengthens its leading position as a provider of fragrance and aroma chemicals for application in body care and household products. Symrise will deploy targeted investments at the new location in Granada and expand its future production in Spain.Symrise assumes that the global economy will recover with improved methods to combat the pandemic. The Company is targeting organic sales growth of 5 to 7 % for 2021. Symrise would thus again grow significantly faster than the relevant market for flavors and fragrances. Furthermore, the medium-term goals up until the end of 2025 remain unchanged. Symrise intends to increase sales to between € 5.5 and 6 billion. This increase is to be achieved through annual organic growth of 5 to 7 % (CAGR) and additional targeted acquisitions. About Symrise: Symrise is a global supplier of fragrances, flavors, food, nutrition and cosmetic ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, pharmaceuticals and producers of nutritional supplements and pet food. Its sales of € 3.5 billion in the 2020 fiscal year make Symrise a leading global provider. Headquartered in Holzminden, Germany, the Group is represented by more than 100 locations in Europe, Africa, the Middle East, Asia, the United States and Latin America. Symrise works with its clients to develop new ideas and market-ready concepts for products that form an integral part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise - always inspiring more...www.symrise.com Media contact: Investor contact: Bernhard Kott Tobias Erfurth Phone: +49 (0)5531 90-1721 Phone: +49 (0)5531 90-1879 Email: bernhard.kott@symrise.com Email: tobias.erfurth@symrise.com Social Media: twitter.com/symriseag linkedin.com/company/symrise youtube.com/agsymrise xing.com/companies/symrise instagram.com/symriseag Financial calendar 20215 May 2021Annual General Meeting5 August 2021 Interim Report Group Report January - June 202126 October 2021Interim Group Report January - September 2021 (trading update)Additional features:File: SYM_Fact Sheet_Q1_en28.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: Symrise AG Mühlenfeldstraße 1 37603 Holzminden Germany Phone: +49 (0)5531 90 0 E-mail: ir@symrise.com Internet: www.symrise.com ISIN: DE000SYM9999, DE000SYM7787, DE000SYM7704 WKN: SYM999 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1189549 End of News DGAP News Service

  • EQS Group

    Changes to the Executive Board of Symrise AG as of 1 April 2021

    DGAP-News: Symrise AG / Key word(s): Personnel03.02.2021 / 07:30 The issuer is solely responsible for the content of this announcement. Heinrich Schaper, President of the Flavor segment, to enter retirement Combination of the segments Flavor & Nutrition into one segment headed by Dr Jean-Yves Parisot Resignation of Achim Daub, President of Scent & Care, by mutal agreement Symrise AG makes changes to its Executive Board effective 1 April 2021. Heinrich Schaper, Executive Board member and responsible for the Flavor segment, will be retiring and leaving the Company on 31 March 2021. In the course of succession planning, the Supervisory Board has decided that Dr Jean-Yves Parisot is to take over the global leadership of the Flavor segment in addition to his responsibility for the Nutrition segment. This will involve combining the Flavor & Nutrition activities in one segment. Achim Daub, who has been Board member since 2006 and responsible for the Scent & Care segment, has decided to pursue new professional opportunities. He will therefore also leave the Company on 31 March 2021 by mutual agreement and on best terms. Succession planning for the leadership of the Scent & Care segment has already been initiated. On an interim basis, the CEO of Symrise AG, Dr Heinz-Jürgen Bertram, will lead the segment. Executive Board member Olaf Klinger will continue to head the finance, legal and IT department.Michael König, Chairman of the Supervisory Board said: "With Heinrich Schaper and Achim Daub, we are saying goodbye to two very committed leaders who have significantly shaped Symrise strong position. Heinrich Schaper served Symrise and its predecessor companies for more than four decades. Today's global presence of the Flavor segment and the excellent relationships with major customers are due to a far-sighted strategy. We wish him all the best for the next chapter in his personal life. On behalf of the Supervisory Board, I would also like to thank Achim Daub. He has consistently driven forward the growth and expansion of the fragrances business over the past 15 years and very successfully developed new application areas. For his professional and personal future we also wish him all the best.""At the same time, we are pleased that as of 1 April 2021 Dr Jean-Yves Parisot will assume global responsibility for the Flavor business in addition to the leadership of the Nutrition segment. By combining the two activities, Symrise will be able to leverage the strengths of the new Flavor & Nutrition segment even more effectively, increase customer penetration and further differentiate itself in the market. We wish Dr Jean-Yves Parisot great success and look forward to continuing our good collaboration. Planning for the leadership succession in the Scent & Care segment has already been initiated and will be announced in due course." Jean-Yves Parisot (56) has been Head of the Nutrition/Diana business unit since 2014 and a member of the Executive Board of Symrise AG since October 2016. In his role, he was most recently responsible for the successful acquisition of ADF/IDF in the U.S. Prior to the acquisition and integration of Diana Group, he headed the Food Division within the Diana Group for five years. Before joining Diana, he held senior positions in several global pharmaceutical, chemical and biotech companies, including Air Liquide, Danisco and Rhodia. He started his career in Sales & Marketing at Pfizer. Jean-Yves Parisot hold a PdD in Veterinary Medicine and received a degree from HEC Paris. Heinrich Schaper (64) has held various management positions at Symrise AG and its predecessor companies for more than four decades. In October 2016, he was appointed President of the Flavor segment. Among other positions during his career at Symrise, he was Vice President Flavor in the U.S., where he was responsible for expanding the business, and was previously responsible for developing the U.K. market as Divisional Manager. Heinrich Schaper began his professional career in 1975 after obtaining a degree in Industrial Management.Achim Daub (58) joined Symrise AG in 2004, assuming global leadership of the Fragrance division in 2005 and was appointed to the Executive Board in 2006. He has consistently driven the expansion of the Scent & Care segment, particularly in France and in the U.S. Under his leadership, the Scent & Care segment also very successfully developed the world's first and only fully functional artificial intelligence system in perfumery. Before joining Symrise, Achim Daub had worked for Procter & Gamble for many years. About Symrise: Symrise is a global supplier of fragrances, flavors, food, nutrition and cosmetic ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, pharmaceuticals and producers of nutritional supplements and pet food. Its sales of € 3.5 billion in the 2020 fiscal year make Symrise a leading global provider. Headquartered in Holzminden, Germany, the Group is represented by more than 100 locations in Europe, Africa, the Middle East, Asia, the United States and Latin America. Symrise works with its clients to develop new ideas and market-ready concepts for products that form an integral part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise - always inspiring more.www.symrise.com Media contact: Investor contact: Bernhard Kott Tobias Erfurth Phone: +49 (0)5531 90-1721 Phone: +49 (0)5531 90-1879 Email: bernhard.kott@symrise.com Email: tobias.erfurth@symrise.com 03.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: Symrise AG Mühlenfeldstraße 1 37603 Holzminden Germany Phone: +49 (0)5531 90 0 E-mail: ir@symrise.com Internet: www.symrise.com ISIN: DE000SYM9999, DE000SYM7787, DE000SYM7704 WKN: SYM999 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1165185 End of News DGAP News Service

  • EQS Group

    Symrise discloses sales figures and confirms profitability target for full year 2020

    DGAP-News: Symrise AG / Key word(s): Development of Sales26.01.2021 / 18:11 The issuer is solely responsible for the content of this announcement. Solid growth despite global coronavirus pandemic and cybersecurity attack in mid-December Organic sales growth of 2.7 % in the financial year 2020 Group sales in reporting currency up 3.3 % to € 3.521 billion Profitability target for 2020 confirmed / expected EBITDA margin at the lower end of the guidance range of 21 to 22 % Symrise AG announces its sales figures for the financial year 2020 due to a special event end of last year. The Company achieved organic sales growth of 2.7 % which is slightly below the targeted range of 3 to 4 %. This is due to a cybersecurity attack in mid-December 2020, which temporarily caused significant disruptions to business operations. This one-time effect is reflected in the sales figures of the fourth quarter with an organic growth of 0.7 %. Meanwhile production processes have been restored globally. With respect to the profitability target, Symrise expects an EBITDA margin at the lower end of the guidance range of 21 to 22 %. "Symrise maintained a very solid performance in a market environment impacted by the coronavirus pandemic. We were well on track until mid-December 2020 when we became the target of a criminal cybersecurity attack with blackmailing intent. It was out of question for us to give in. As a consequence, our business operations were at times severely restricted and we were therefore not able to fully achieve our growth targets. However, we follow a clear ethical compass and reject any form of criminal fraud or extortion. Although there were some delays in production and logistics, customers and business partners encouraged us in our position and we expressly thank them for that. Our business operations are meanwhile largely back to normal, and we are proceeding at high speed to clear the backlog of orders," said Dr Heinz-Jürgen Bertram, CEO of Symrise AG.Solid sales growth - profitability target confirmedDespite the heterogeneous market environment shaped by the global coronavirus pandemic, Symrise achieved organic sales growth of 2.7 % in 2020. Growth was impacted by the slower sales development in the month of December, which resulted from the cybersecurity attack. The fourth quarter recorded organic sales growth of 0.7 %. Excluding this one-time effect and based on a good sales performance in October and November as well as a robust order intake, Symrise would have achieved its original targets. Taking negative currency translation effects of € 152 million (- 4.5 %) into account, group sales in reporting currency amounted to € 3.521 billion (2019: € 3.408 billion). This represents an increase of 3.3 %.Symrise remains confident that it will achieve an EBITDA margin at the lower end of the guidance range of 21 to 22 % for full year 2020.The Company aims to increase its annual sales to € 5.5 to 6.0 billion by 2025. Symrise wants to achieve this with annual organic growth of 5 to 7 % (CAGR) as well as additional targeted acquisitions. In the medium term, profitability should remain within a target corridor of 20 to 23 %.Effects of the cybersecurity attack largely remediedThe cybersecurity attack in December represented a criminal attack by unknown perpetrators with blackmailing intent. Symrise had immediately shielded its IT infrastructure and shut down essential IT systems after it had become aware of a cybersecurity attack in mid-December. In addition, the Company took comprehensive internal measures to counteract the attack and analyse the impact. Furthermore, Symrise immediately involved the relevant authorities and called in external forensic cyber experts.Symrise will publish the audited, complete corporate and financial report for the 2020 fiscal year as scheduled on 9 March 2021.About Symrise: Symrise is a global supplier of fragrances, flavors, food, nutrition and cosmetic ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, pharmaceuticals and producers of nutritional supplements and pet food. Its sales of approximately € 3.4 billion in the 2019 fiscal year make Symrise a leading global provider. Headquartered in Holzminden, Germany, the Group is represented by more than 100 locations in Europe, Africa, the Middle East, Asia, the United States and Latin America. Symrise works with its clients to develop new ideas and market-ready concepts for products that form an integral part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise - always inspiring more . www.symrise.com Media contact: Investor contact: Bernhard Kott Tobias Erfurth Phone: +49 (0)5531 90-1721 Phone: +49 (0)5531 90-1879 Email: bernhard.kott@symrise.com Email: tobias.erfurth@symrise.com Social media: twitter.com/symriseag linkedin.com/company/symrise youtube.com/agsymrise xing.com/companies/symrise instagram.com/symriseag 26.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: Symrise AG Mühlenfeldstraße 1 37603 Holzminden Germany Phone: +49 (0)5531 90 0 E-mail: ir@symrise.com Internet: www.symrise.com ISIN: DE000SYM9999, DE000SYM7787, DE000SYM7704 WKN: SYM999 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1163473 End of News DGAP News Service