Symrise (SY1) Q4 2024 earnings summary

Executive summary

• Achieved record sales of €4,999 million in 2024, with organic growth of 8.7% year-over-year, surpassing targets and market growth.

• EBITDA exceeded €1 billion for the first time, with a margin of 20.7%, up 160 basis points from 2023.

• Net income rose to €478 million, up €138 million from the previous year; EPS increased to €3.42.

• Launched the ONE Symrise strategy, focusing on growth, efficiency, and portfolio, with initiatives like ONE CARE and a global efficiency program.

• Continued strong commitment to sustainability, innovation, and resilient supply chains, with 92% of strategic biological raw materials sustainably sourced.

Financial highlights

• Sales grew 5.7% in reporting currency and 8.7% organically year-over-year; EBITDA reached €1,033 million, up 14.4%.

• EBITDA margin improved to 20.7% from 19.1% in 2023; EBIT increased 17.4% to €718 million.

• Net income attributable to shareholders was €478 million; earnings per share rose to €3.42.

• Business free cash flow was €680 million, 13.6% of sales, exceeding the >12% target.

• Dividend proposal of €1.20 per share, up from €1.10.

Outlook and guidance

• Reaffirmed long-term organic sales growth target of 5–7% CAGR through 2028.

• EBITDA margin expected around 21% in 2025, with a medium-term target of 21–23%.

• Business free cash flow targeted at ~14% of sales in 2025 and >14% medium-term.

• Continued focus on sustainable sourcing, innovation, and efficiency to drive growth.