14.12.2023 / 17:30 CET
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Updated sales and profitability development 2023
| Symrise revises expectation for 2023 fiscal year |
An organic growth of over 7 % is now expected for 2023 and it thus exceeds the previous forecast of 5 to 7 %. Sales for the full year would then amount to around € 4.7 billion.
Considering special effects, Symrise now expects an adjusted EBITDA margin of 19 to 19.5 % and is hence slightly below the previous forecast of around 20 %. Reasons for this are especially reevaluations for inventories due to lower raw material prices, and negative currency translation effects.
In addition, the delayed reduction in inventories is impacting profitability for the current fiscal year. Due to healthy demand, the management is confirming the long-term targets. Annual organic growth of 5 to 7 % (CAGR) should be achieved by 2028. Profitability (EBITDA margin) should remain within a target corridor of 20 to 23 %.
Symrise will announce the detailed results for the full year 2023 on March 6, 2024. |
www.symrise.com
Media contact: Contact: Investor Relations:
Bernhard Kott Tobias Erfurth
Tel.: +49 55 31 90-17 21 Tel.: +49 55 31 90-1879
Email: bernhard.kott@symrise.com Email: Tobias.Erfurth@symrise.com
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