Symrise : Profit warning: adj. EBITDA margin guidance lowered to 19.0-19.5% (was c. 20%); implies c. € 905m adj. EBITDA 2023, -5% vs € 952m cons; surprising
>Better organic sales growth 'over 7%' (cons 6.9%) in 2023, FX headwinds contain sales at € 4.7bn - Symrise issued a profit warning on FY 2023. This comes despite better-than-expected 'over 7%' organic sales growth (was 5-7%, cons 6.9%) in FY 23. FX headwinds contain sales growth to around € 4.7bn from € 4.62bn in 2022, slightly below consensus forecast of € 4.78bn. We now project FY 2023 organic sales growth of 7.4%, implying 7.1% in Q4 2023 compared to 6.5% reported...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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