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EQS-Adhoc: Symrise AG: Updated sales and profitability development 2023

eqs_en 
0 0 14.12.23
EQS-Adhoc: Symrise AG: Updated sales and profitability development 2023: http://s3-eu-west-1.amazonaws.com/sharewise-dev/attachment/file/23742/Symrise_Logo.svg.png
 

EQS-Ad-hoc: Symrise AG / Key word(s): Change in Forecast
Symrise AG: Updated sales and profitability development 2023

14-Dec-2023 / 18:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

14.12.2023 / 17:30 CET
Publication of insider information in accordance with Article 17 of Regulation (EU) No. 596/2014, transmitted by EQS News - a service of the EQS Group AG.
The issuer/publisher is responsible for the content of the announcement.

 

Updated sales and profitability development 2023

Symrise revises expectation for 2023 fiscal year

 

An organic growth of over 7 % is now expected for 2023 and it thus exceeds the previous forecast of 5 to 7 %. Sales for the full year would then amount to around € 4.7 billion.
 
Considering special effects, Symrise now expects an adjusted EBITDA margin of 19 to 19.5 % and is hence slightly below the previous forecast of around 20 %. Reasons for this are especially reevaluations for inventories due to lower raw material prices, and negative currency translation effects.
 
In addition, the delayed reduction in inventories is impacting profitability for the current fiscal year. Due to healthy demand, the management is confirming the long-term targets. Annual organic growth of 5 to 7 % (CAGR) should be achieved by 2028. Profitability (EBITDA margin) should remain within a target corridor of 20 to 23 %.
 
Symrise will announce the detailed results for the full year 2023 on March 6, 2024.

 www.symrise.com

Media contact:                                                 Contact: Investor Relations:
Bernhard Kott                                                 Tobias Erfurth
Tel.: +49 55 31 90-17 21                                   Tel.: +49 55 31 90-1879
Email: [email protected]                   Email: [email protected]



End of Inside Information

14-Dec-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
Language: English
Company: Symrise AG
Mühlenfeldstraße 1
37603 Holzminden
Germany
Phone: +49 (0)5531 90 0
E-mail: ir@symrise.com
Internet: www.symrise.com
ISIN: DE000SYM9999, DE000SYM7787, DE000SYM7704
WKN: SYM999
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1797343

 
End of Announcement EQS News Service

1797343  14-Dec-2023 CET/CEST

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Symrise AG Stock

€101.20
-1.030%
We can see a decrease in the price for Symrise AG. Compared to yesterday it has lost -€1.050 (-1.030%).
Currently there is a rather positive sentiment for Symrise AG with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 115 € shows a slightly positive potential of 13.64% compared to the current price of 101.2 € for Symrise AG.
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EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




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