Symrise posts slight beat in 2024 margin and sales (updated)

Symrise AG

30/01/2025 07:11

(Adds share move and details on margin and outlook, paragraphs
1-5)
       Jan 30 (Reuters) - German flavour and fragrance maker
Symrise  SY1G.DE  reported full-year core profit (EBITDA) margin
and revenue slightly above market expectations on Thursday,
boosted by sales growth in both of its business areas.
    Companies involved in production of fragrances and cosmetics
have seen a strong increase in sales in recent quarters.
    Symrise, whose fragrances go into the perfumes of French
luxury giants LVMH  LVMH.PA  and Kering  PRTP.PA , said its
EBITDA margin was 20.7% last year. Analysts polled by Vara
Research were expecting a margin of 20.4%.
    Its shares were up 4% in early Frankfurt trade.
    The group also narrowed its 2025 core profit margin guidance
to around 21%, just below the midpoint of the earlier range of
20-23% and analysts' average estimate of 21.1%.
    Its annual revenue rose to 4.99 billion euros ($5.20
billion) from 4.73 billion in 2023, while analysts were
expecting 4.98 billion euros on average.
    Organic sales, which do not take currency exchange effects
into account, rose by 8.7% last year.
($1 = 0.9602 euros)

 (Reporting by Patricia Weiss, writing by Anastasiia Kozlova;
editing by Milla Nissi)
 ((Anastasiia.Kozlova@thomsonreuters.com))