Symrise AG 9-month Organic Sales Growth At 9.2%; Raises Sales Forecast - Quick Facts

Symrise AG (SYIEY.PK,SYIEF.PK) said it successfully continued its profitable growth course in the third quarter of 2021. Organic sales growth was 9.2% in the first nine months. Group sales were 2.88 billion euros for the nine-month period, up 6.7% compared to the prior-year period.

Third quarter organic sales growth was 8.3%. Sales growth in reporting currency was 10.6% in the third quarter.

Looking forward, the company once again increased its 2021 organic sales forecast to around 9%. The company noted that this corresponds to an increase of around two percentage points compared to the raised forecast of 7% in August 2021. The company is adhering to its profitability target for fiscal 2021 and is aiming for an EBITDA margin of more than 21%.

Symrise AG also stated that its medium-term targets continue to be unchanged. The company expects to increase sales to between 5.5 billion euros and 6.0 billion euros by the end of fiscal 2025. The company targets annual organic growth of 5 to 7% (CAGR). Profitability over the medium term is anticipated in the target corridor of 20 to 23%.

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