Symrise (SY1) Q2 2025 earnings summary

Executive summary

• Achieved 3.1% organic sales growth in H1 2025, outpacing the market despite a challenging macroeconomic environment and FX headwinds.

• EBITDA increased by 4.5% to EUR 554 million, with margin up 100 bps to 21.7% year-over-year.

• Net income rose 12% to EUR 268 million, and EPS reached EUR 1.92, reflecting double-digit growth.

• Transformation initiatives (ONE SYM) delivered EUR 20 million in cost savings in H1, targeting EUR 40 million for 2025.

• Leadership team strengthened with key appointments, including a new President of Scent & Care.

Financial highlights

• Sales reached EUR 2,554 million, with 3.1% organic growth; reported sales declined 0.5% due to FX and portfolio effects.

• EBITDA margin improved to 21.7%, up 100 bps year-over-year.

• Gross profit margin increased to 41.4%, up 250 bps, mainly due to enhanced material utilization and efficiency gains.

• Business free cash flow totaled EUR 226 million (8.8% of sales), with a target of 14% for the full year.

• Net debt at EUR 2,535 million, leverage ratio at 2.4x, within target range.

Outlook and guidance

• Full-year 2025 organic growth guidance moderated to 3%-5% (from 5%-7%) due to a more challenging demand environment.

• EBITDA margin target raised to approximately 21.5% for 2025, driven by efficiency gains.

• Business free cash flow expected at around 14% of sales for 2025 and above 14% midterm.

• Midterm targets reaffirmed: 5%-7% organic CAGR, 21%-23% EBITDA margin, >14% free cash flow.