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EQS-Ad-hoc: 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: bernhard.kott@symrise.com Email: Tobias.Erfurth@symrise.com
End of Inside Information
14-Dec-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
|
| 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: |
DAX |
| Listed: |
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: |
1797343 |
| |
| End of Announcement |
EQS News Service |
1797343 14-Dec-2023 CET/CEST
EQS-Ad-hoc: 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: bernhard.kott@symrise.com Email: Tobias.Erfurth@symrise.com
End of Inside Information
14-Dec-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
|
| 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: |
DAX |
| Listed: |
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: |
1797343 |
| |
| End of Announcement |
EQS News Service |
1797343 14-Dec-2023 CET/CEST
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