Symrise : Q2 organic growth of 5.5% weaker on S&C. Adj. EBITDA slightly below but on track for an unchanged outlook, consensus already there. Mixed performance
>Organic sales growth of 5.5% in Q2, below the consensus forecast of 6.6% - Symrise has reported Q2 2023 group sales of € 1,184m, 4% below the consensus at € 1,236m (ODDO BHF at € 1,255m) and up 1% y-o-y. Organic growth of 5.5% y-o-y was below the consensus forecast of 6.6% (ODDO BHF at 6.7%) fuelled by both segments and halved vs the Q1 2023 level of 10.6% (Q2 2022: 12.0%). Portfolio effects contributed 0.9pp to y-o-y growth with forex headwinds representing 5.2%.§rc...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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