Symrise : Cartel probe started in fragrances, final FY22 in line with prelims, outlook in line, dividend weak, nothing to cheer about
>Final results in line with preliminaries - The final 2022 results confirmed Symrise’s preliminary headline results reported on 20 January, including 11.4% group organic sales growth to € 4.6bn, EBITDA of € 922m and an implied margin of 20.0%. The € 126m impairment on its 30% stake in Swedencare was flagged back then as well. Aside from these final results and the outlook, the EU/Switzerland have initiated probes into the fragrance industry on potential collusion and ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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