Double-Digit Organic Growth for Symrise in 2Q
Wide-moat Symrise reported double-digit organic growth of 10.6% in the second quarter. The scent and care and flavour businesses led the charge, similar to the first quarter, as nutrition continued to be hurt by destocking at a major customer at Probi. In line with our view, EBITDA was only up a modest 2.5% over 2017 as margins fell due to increasing raw material costs. Given strong growth thus far, Symrise has upgraded 2018 organic growth guidance to “greater than 7%†from 5%-7%. The company st...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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