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Symrise Q1 Sales Up 14.9%; Confirms Targets For 2022 And Medium-term Goals

Symrise AG (SYIEY.PK), a German maker of flavors and fragrances, reported that its sales in reporting currency for the first quarter increased by 14.9% to 1.09 billion euros from 949.6 million euros in the prior year. The company benefited from the ongoing high demand and positive portfolio and currency translation effects.

In organic terms, the Group posted strong sales growth of 8.3% after the strong quarter in the previous year growth of 10.5%.

The company continues to target organic sales growth of 5% to 7% with an expected EBITDA margin of around 21% for the current fiscal year.

Symrise confirmed its long-term growth and profitability targets and continues to expect that it will grow faster than the relevant market. The company targets a compound annual growth rate (CAGR) of 5% to 7%.

Profitability is projected to be maintained at a high level for 2022 with an EBITDA margin of around 21%. Over the medium term, Symrise targets an EBITDA margin in the range of 20% to 23% until the end of fiscal year 2025.

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