HOLZMINDEN (dpa-AFX) - Symrise AG (SYIEY.PK, SYIEF.PK), a German fragrance, flavoring, and food ingredients company, on Thursday confirmed its positive outlook for fiscal 2025 and long-term, and raised dividend.
For the new year, the company continues to expect EBITDA margin of around 21 percent, and organic growth of 5 percent to 7 percent.
In the medium term, the aim is to achieve an EBITDA margin in the range of 21 percent to 23 percent.
The Group continues to assume that it will grow faster than the relevant market, for which long-term growth of around 3 percent to 4 percent is predicted.
The company still projects long-term growth of 5 percent to 7 percent (CAGR).
Further, citing the good business performance, Symrise's Executive Board and Supervisory Board will propose to the Annual General Meeting on May 20 a dividend for the 2024 fiscal year of 1.20 euros, a year-on-year increase of more than 9 percent from last year's 1.10 euros.
Jean-Yves Parisot, Chief Executive Officer, said, 'Symrise achieved strong and profitable growth in the past fiscal year, again outperforming the market by a significant margin.... Thanks to our consistent focus on growth, efficiency and the further optimization of our portfolio, we will be able to achieve another solid, sustainable and profitable result in the current fiscal year. Our shareholders should also benefit from this in the future.'
The company added that the executive Board contract of Stephanie Cossmann has been extended ahead of schedule until January 2030. Cossmann was hired to take over the responsibilities for the Human Resources and Legal in February 2023, and she will lead the Human Resources, Legal and Sustainabilty resort of Symrise for another four years.
As announced in January, Symrise's fiscal 2024 net income amounted to 478.2 million euros or 3.42 euros per share, higher than 340.5 million euros, or 2.44 euros per share last year.
EBITDA stood at 1.033 billion euros, higher than last year's 851.7 million euros. EBITDA margin was also up to 20.7 percent from last year's 18 percent.
The Group generated sales of 5 billion euros, an increase of 5.7 percent in the reporting currency. Excluding portfolio and currency effects, organic sales growth amounted to 8.7 percent.
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