High-Single-Digit Organic Growth Continues for Symrise in 1Q
Wide-moat Symrise reported another quarter of strong, broad-based growth, which was in line with our expectations. First-quarter organic growth was 8.7%, led by 9.1% growth in scent and care. Scent and care performance was driven mainly by double-digit organic growth in fine fragrances and consumer fragrances, while oral care remained strong with high-single-digit growth. We don’t expect to make a material change to our forecast or EUR 74 fair value estimate. At current levels, the shares look m...Symrise AG develops, produces, and sells fragrances and flavors as well as active ingredients for the cosmetics industry. Co. operates in two main business segments: The Scent & Care segment, which develops, produces and sells fragrances, cosmetic ingredients, aroma molecules and mint aromas and also develops specific application processes for such substances; and The Flavor & Nutrition segment, which develops, produces and sells flavors that are used by customers in the production of food products (savory and sweet food products as well as dairy products) and beverages.
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