Symrise : Q1 sales with better 10.9% organic growth (cons 9.1%) incl. 4pp FX-based pricing tailwind, outlook confirmed
>Group sales of € 1,292m in Q1 2024, in line with consensus - Symrise reported group sales of €1,292m in Q1 2024, in line with the consensus forecast of € 1,282m (ODDO BHF € 1,273m) and up 5% y-o-y with a 5.6% FX headwind weighing. Organic growth of 10.9% y-o-y was ahead of the consensus at 9.1% (ODDO BHF 8.3%) and compares to the Q4 2023 level of 9.5%, but includes a 4pp FX-based pricing (Argentina) component baked into -1% price vs +11.9% volume against a light comp...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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