Symrise continues profitable growth course
Symrise successfully continued its profitable growth course in the first half of 2020 also during the global Corona virus pandemic. The group increased its sales by 7.6 % to EUR 1,821 million in an economically challenging market environment. In organic terms – i.e. excluding the portfolio effect of the ADF/IDF acquisition and exchange rate effects – sales were up by 3.4 %. All segments contributed to this positive development.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 11.9 % to EUR 393 million as compared to the previous year’s level normalised for acquisition and integration costs for ADF/IDF (H1 2019: EUR 351 million). Profitability developed particularly well: The EBITDA margin rose to 21.6 % and lies thus significantly higher than the profitability target for 2020. The net income for the reporting period increased to EUR 169 million. Against the backdrop of the strong business performance and profitability trend in the first half of the year, the company is raising its full-year EBITDA margin guidance from 20 % to a range of 21 to 22 %.
Changed consumer behaviour in scent & care and flavor segments
The group achieved sales growth of 7.6 % in the first half of 2020 to EUR 1,821 million (H1 2019: EUR 1,692 million). The acquisition of ADF/IDF had a positive impact of EUR 106 million on sales performance. In organic terms, sales increased by 3.4 %. Amid the Corona virus pandemic, changes in consumer behaviour were seen for the first time in the scent & care and flavor segments in the second quarter. This resulted in both positive and negative effects on demand in individual business units.