Symrise H1 Net Income Rises, Organic Sales Growth At 11.5%; Confirms Long-term Targets

(RTTNews) - Symrise (SYIEY.PK, SYIEF.PK) reported first half net income of 239.5 million euros, an increase of 27.7% from last year. Earnings per share was 1.71 euros compared to 1.34 euros. EBITDA was 530 million euros, an increase of 11.5% compared to the previous year's adjusted figure. Profitability measured by the EBITDA margin was 20.7%, significantly higher than the previous year's adjusted figure of 19.7%.

First half sales rose by 6.3% to 2.56 billion euros. Excluding portfolio and exchange rate effects, sales increased organically by 11.5%, for the period.

Symrise confirmed its growth and profitability targets, and continues to expect to grow faster than the relevant market. The company targets organic sales growth of between 5 and 7% in 2024. In terms of profitability, the company is seeking to achieve an EBITDA margin of around 20%.

In the long term, the company plans to increase sales to 7.5 to 8.0 billion euros by 2028. Profitability or EBITDA margin should remain within a target corridor of 20 to 23%, the company said.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.