HOLZMINDEN (dpa-AFX) - Symrise AG (SYIEY.PK), a German maker of flavors and fragrances, reported Wednesday that its fiscal 2023 net income attributable to the shareholders amounted to 340 million euros, lower than last year's 406 million euros.
Earnings per share were 2.44 euros, down from 2.91 euros a year ago.
Adjusted earnings before interest, taxes, depreciation and amortization or adjusted EBITDA of 903.5 million euros fell from prior year's 921.5 million euros. The corresponding margin was 19.1 percent, compared to prior year's 20 percent.
Symrise Group generated sales of 4.73 billion euros in 2023, an increase of 2.4 percent from last year. Organic sales growth amounted to 7.9 percent.
Further, the company announced that at the Annual General Meeting on May 15, the Executive Board and Supervisory Board will propose increasing the dividend to 1.10 euros per share from last year's 1.05 euros.
Looking ahead, Symrise reaffirmed its long-term growth and profitability goals. The Group expects an EBITDA margin for 2024 of around 20 percent. In the medium term, Symrise is seeking to maintain an EBITDA margin in the range between 20 percent and 23 percent.
The expected long-term growth of 5 percent to 7 percent (CAGR) remains unchanged and is also anticipated to be achieved in 2024.
The company aims to generate sales of 5.5 billion euros to 6.0 billion euros by the end of 2025 and of 7.5 billion euros to 8.0 billion euros by 2028.
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