Symrise AG - Earnings Release 2023

News Details

Ad-hoc | 14 December 2023 18:03

Symrise AG: Updated sales and profitability development 2023

Symrise AG / Key word(s): Change in Forecast

Symrise AG: Updated sales and profitability development 2023

14-Dec-2023 / 18:03 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

14.12.2023 / 17:30 CET

Publication of insider information in accordance with Article 17 of Regulation (EU) No. 596/2014, transmitted by EQS News – a service of the EQS Group AG.

The issuer/publisher is responsible for the content of the announcement.

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: [email protected] Email: [email protected]

End of Inside Information

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Language:	English
Company:	Symrise AG
	Mühlenfeldstraße 1
	37603 Holzminden
	Germany
Phone:	+49 (0)5531 90 0
E-mail:	[email protected]
Internet:	www.symrise.com
ISIN:	DE000SYM9999, DE000SYM7787, DE000SYM7704
WKN:	SYM999
Indices:	DAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1797343