Symrise : Q3 sales with strong 6.4% organic growth (cons 4.5%), 2023 targets reiterated as margin outlook remains a challenge
>Strong 6.4% (cons 4.5%) organic sales growth in Q3, including 2.3% volumes - Symrise reported group sales of € 1,196m in Q3 2023, 2% below consensus of €1,224m (ODDO BHF €1,236m) and down 3% y/y as 9% FX headwinds weighed. Organic growth of 6.5% y-o-y was significantly ahead of consensus of 4.5% (ODDO BHF 3.9%) and compares to Q2 2023 level of 5.5% (H1 2023: 7.9%) and accumulating to 7.4% in 9M 2023. 4.2% pricing and 2.3% volumes contributed to that.Good...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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