Symrise (SY1) Q1 2025 TU earnings summary

Executive summary

• Achieved 4.2% organic sales growth in Q1 2025, with reported sales up 2.0% to €1,317 million, driven by higher volumes, a diversified, innovation-led portfolio, and strong performance in EAME and Asia-Pacific.

• CEO emphasized profitable growth despite macroeconomic uncertainty, highlighting the ONE Symrise strategy and continued investments in innovation.

• Scent & Care segment posted 1.7% organic sales growth, led by fragrance and Aroma Molecules, with robust momentum in Latin America, EAME, and APAC.

• Pet Food division saw moderate sales increase, with strong palatability growth offset by softer pet nutrition performance.

• Ongoing capacity expansion in high-growth regions and strategic transformation initiatives support international growth and long-term strategy.

Financial highlights

• Organic sales growth of 4.2% year-over-year; reported sales up 2.0% to €1,317 million, with negative currency and portfolio effects.

• Taste, Nutrition & Health segment sales rose to €799 million (+5.9% organic growth); Scent & Care segment sales reached €518 million (+1.7% organic growth).

• Fragrance and Aroma Molecules divisions achieved high single-digit organic growth, especially in North America, APAC, and Latin America.

• Group pricing increased by 1.4% in Q1, reflecting real pricing rather than inflationary adjustments.

• Food and beverage segment outperformed the market, especially in Europe and the US, driven by innovation and health-focused products.

Outlook and guidance

• Reaffirmed 2025 guidance: 5–7% organic growth, ~21% EBITDA margin, and ~14% business free cash flow.

• 2028 midterm targets: 5–7% organic growth, 21–23% EBITDA margin, and >14% business free cash flow, supported by disciplined capital allocation and operating efficiency.

• Expect to grow above the anticipated annual market growth rate of 3–4%.

• Confident in achieving full-year guidance despite external uncertainties, with strong underlying market trends.