Symrise feels the impact of high energy and raw material costs

02-Mar-2022 - Germany

Symrise <DE000SYM9999>, a manufacturer of fragrances, flavors and other food additives, benefited last year from good business around pet food and the revival of travel. In addition, increasing out-of-home consumption drove demand for beverage additives. However, this was offset by high Energy and raw material costs. Sales rose 8.7 percent year-on-year to 3.83 billion euros in 2021, the Dax <DE0008469008> company reported in Holzminden on Tuesday. Operating profit (Ebitda) increased by 9.6 percent to 814 million euros, corresponding to a margin of 21.3 percent. While sales were slightly above the average market expectation, operating profit remained slightly below.

Photo by <a href="https://unsplash.com/@ninaluong?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Nina Luong</a> on <a href="https://unsplash.com/s/photos/powder?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText">Unsplash</a>

Symrise increased net income by 68 million euros to 375 million euros. The dividend is expected to rise from 0.97 to 1.02 euros per share, which is less than analysts had hoped for on average.

For 2022, Symrise is targeting sales growth of 5 to 7 percent and an operating profit margin "around 21 percent."/mis/jha/ (dpa)

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

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