Symrise AG, a global leader in fragrances, flavors and cosmetic ingredients, has upgraded its 2024 financial guidance, reflecting robust business performance and strategic growth initiatives under the new leadership of CEO Jean-Yves Parisot.
At its Capital Market Day, held at the company’s headquarters in Holzminden, Germany, Symrise announced its organic sales growth forecast for 2024 has been adjusted upward to exceed 7%, compared to the initial 5% to 7% target, after accounting for hyperinflationary effects. The company also raised its EBITDA margin projection to above 20%, from the earlier target of around 20%. Business free cash flow is now expected to surpass 12%, up from the previous guidance.
These revised forecasts come alongside confirmation of Symrise’s longer-term financial targets, including sustained organic sales growth of 5% to 7% CAGR through 2028. The EBITDA margin target for 2025 has been updated to a range of 21-23%, reflecting a shift from the previous 20-23% range, while business free cash flow is expected to exceed 14%.
Focus on innovation, efficiency, sustainability & digital transformation
The company’s updated performance outlook is underpinned by its "ONE Symrise" strategy, which the company said emphasizes profitable, sustainable growth and innovation in health, well-being and beauty. Symrise plans to drive growth through advancements in food and beverage, pet food, fragrance, and cosmetic ingredients. Efficiency initiatives across the value chain, including optimized procurement and production, are expected to further enhance profitability.
Symrise reiterated its commitment to sustainability, aiming to achieve net-zero Scope 1 and 2 greenhouse gas emissions by 2030. Digitalization efforts, including the integration of AI into product development and consumer research, are also playing a pivotal role in enhancing operational transparency and efficiency.
The company’s Transformation Office will oversee the execution of these strategic initiatives to ensure alignment with its financial and operational goals.
For further details on the company’s strategic roadmap and updated financial targets, the full management presentation is available on Symrise’s website.
According to Petfood Industry's Top Pet Food Companies, Symrise Pet Food is the global leader and pioneer of high-value solutions improving pets' well-being and owners’ satisfaction. The company provides multiple products and services to support pet food manufacturers: SPF develops palatability enhancers, Videka concentrates on pet food protection, and Nutrios specializes in pet nutrition solutions. Symrise Pet Food is present on five continents with 1,500 employees, 31 industrial sites, and four Panelis expert measurement centers with 980 cats and dogs.
Adapted from a press release.
