Symrise (SY1) CMD 2024 Presentation summary

Strategic vision and transformation

• Launch of the "ONE Symrise" strategy focuses on growth, efficiency, and active portfolio management, aiming to innovate in health, well-being, and beauty for families worldwide.

• Transformation Office established to drive execution, with priorities on building an innovation ecosystem and implementing best practices across the organization.

• Strategy emphasizes leveraging global scale, cross-segment synergies, and a holistic "ONE CARE" approach integrating Scent & Care (S&C) and Taste, Nutrition & Health (TN&H).

• Corporate values and people development are central, with a diverse workforce, leadership initiatives, and digital HR transformation.

• Sustainability, digitalization, and people & values are identified as key transformational drivers.

Business segments and market positioning

• TN&H segment is positioned as an Augmented Flavor House, leading in food & beverage and pet food markets, with robust growth and innovation in health actives and integrated solutions.

• S&C segment implements the Elevate strategy, targeting scale and profitability through innovation, active portfolio management, and efficiency improvements.

• Both segments leverage digital tools, AI, and backward integration to enhance product development, supply chain resilience, and customer engagement.

• Market leadership in key categories such as taste balancing, vanilla, palatability, oral care, and micro protection.

• M&A and partnerships remain core to expanding capabilities, with recent moves in pet food, egg protein, and probiotics.

Financial performance and targets

• Strong financial track record with sales CAGR of ~8% since IPO and EBITDA margin consistently within the 19-23% corridor.

• 2024 guidance increased: organic growth >7%, EBITDA margin >20%, and business free cash flow (BFCF) >12% of sales.

• Mid-term targets to 2028: 5-7% organic sales growth CAGR, EBITDA margin 21-23%, and BFCF >14% of sales.

• Efficiency program identified €50m savings for 2024, with €32m achieved in the first nine months.

• Continued investments in capacity expansion and new technologies, with €800m capex planned from 2024-2026.