Symrise AG reported €1,291.6 million in sales during the first quarter 2024, a 5% increase compared to €1,230.2 million in the previous year.
Scent & Care
This category saw net sales increase by 13.7% year-on-year to €516.4 million, as compared to €454.0 million in the previous year.
The fine fragrance business unit benefited from this, recording high double-digit percentage growth com-pared to the same quarter the previous year. Sales of the consumer fragrance business unit also grew by a double-digit percentage, driven by body care and household products.
Taste, Nutrition & Health
This category saw net sales decrease 0.1 % to €775.2 million, as compared to €776.1 million in the previous year.
The food and beverage division with its beverages, sweet and savory business units achieved medium single-digit percentage growth rates. Out of it, savory product applications posted a double-digit growth.
A breakdown of finances by category.
Financial Outlook
The company’s long-term organic growth expectation is unchanged at 5% to 7% (CAGR). By the end of 2028, Symrise is seeking to achieve sales of €7.5 billion to €8.0 billion.
Jean-Yves Parisot, CEO of Symrise AG, said, “As the new CEO, I am especially pleased that Symrise has been able to build on last year’s good business development. Despite the sustained volatility in our markets, we are very optimistic for the months ahead and expect robust demand. Our diversified portfolio, our innovative offers and global positioning give us the necessary strength to continue leveraging our growth potential and thus create sustainable value for our customers and ourselves. We are on course to achieve our targets for the current year and our long-term targets through to 2028 as communicated.”
