HOLZMINDEN (dpa-AFX) - Symrise AG (SYIEY.PK, SYIEF.PK), a German fragrance, flavoring, and food ingredients company, reported Tuesday higher sales in its first quarter, and the company reaffirmed its outlook.
Sales rose 2 percent to 1.32 billion euros from last year's 1.29 billion euros, supported mainly by higher volumes across both segments and sustained customer demand.
Organic sales growth was 4.2 percent in the first quarter.
The Taste, Nutrition & Health segment achieved organic growth of 5.9 percent in the first quarter. The Scent & Care segment's organic sales growth was 1.7 percent.
Further, the company reaffirmed its growth and profitability targets for the current year and its mid-term ambitions through 2028.
Symrise expects to grow above the anticipated annual market growth rate of approximately 3 percent to 4 percent. The company continues to expect an organic growth of 5 percent to 7 percent, an EBITDA margin of around 21 percent and a business free cash flow of around 14 percent in fiscal 2025.
The company still expects organic growth of 5 percent to 7 percent (CAGR) and an EBITDA margin in the range of 21 percent to 23 percent by 2028.
Further, the company Said it will provide updates of its strategic assessment of the existing footprint of the chemicals production activities in the coming quarters.
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