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Symrise Full-Year Earnings Surge

Symrise AG (SYIEY.PK), a German maker of flavors and fragrances, on Tuesday posted a sharp rise in earnings for the fiscal 2021, amidst a recovery in sales, driven by the waning impact of Covid-19 pandemic.

For the fiscal 2021, the Holzminden-headquartered firm reported a net profit of 374.9 million euros or 2.74 euros per share, compared with 306.9 million euros or 2.27 euros per share, reported for the financial year 2020.

German firm posted a pre-tax income of 516.2 million euros as against 423.6 million euros, on year-on-year basis. EBIT of the firm was also moved up by 14.7 percent, to 559 million euros.

For the 12-month period, Symrise registered its EBITDA at 813.6 million euros, compared with 742.1 million euros, reported for the fiscal 2020.

For the fiscal 2021, the company has proposed an increased dividend of 1.02 per share.

For 2021, the Group reported a rise in sales by 8.7 percent, to 3.82 billion euros, compared with the previous year.

Looking ahead, for the fiscal 2022, Symrise expects report its sales growth to be in the range of 5 percent -7 percent, with an EBITDA margin of around 21 percent.

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