Symrise’s Scent & Care division has reported a robust performance for the first nine months of 2024, with revenue reaching €1.475 billion ($1.6 billion), reflecting a 9.8% increase compared to the same period last year. Symrise Scent & Care Reports 10% Sales Growth for Nine Months. This growth was driven by strong results across several regions, particularly in Europe, the Middle East, Africa, Asia-Pacific, and Latin America. Despite modest growth in North America, the division’s performance overall remains impressive, underpinned by high single-digit organic growth in its Cosmetic Ingredients segment.
The company also highlighted strong growth in the application areas for micro-protection, actives, and botanicals, which continued to show resilience in a challenging global economic environment. This continued positive performance in key segments showcases Symrise’s ability to innovate and adapt to changing market dynamics.
Symrise Continued Growth Amid Challenging Market Conditions
Symrise continued its profitable growth trajectory in the first nine months of the year, achieving organic sales growth of 11.1%. Considering portfolio and exchange rate effects, group revenue rose to €3.824 billion in the first nine months (9M 2023: €3.610 billion), reflecting a 5.9% increase compared to the year-ago period. Both segments, Taste, Nutrition & Health and Scent & Care, contributed to this positive development, demonstrating the company’s ability to navigate a global economy that remains challenging.
In the third quarter, overall sales increased organically by 10.2%. Despite negative exchange rate effects of 4.0%, sales grew by 5.2% in the reporting currency. This solid performance has led Symrise to revise its organic sales target for the full year 2024, now expecting sales growth of around 7%, up from its previous forecast of between 5% and 7%.
Symrise Scent & Care Reports 10% Sales Growth for Nine Months, with the Scent & Care division continuing to deliver strong revenue growth despite the volatility caused by geopolitical tensions and ongoing inflation pressures.
Looking Ahead: Positive Outlook for the Rest of 2024
CEO Jean-Yves Parisot expressed confidence in the company’s future, noting, “Symrise was able to seamlessly continue the positive business development of the past months in the third quarter. Despite the current volatile market environment, we are confident for the rest of the year and expect robust demand.” The company remains on track to meet its adjusted full-year growth target of around 7%, with a long-term EBITDA margin expected to fall within the 20-23% range.
With both the Scent & Care and Taste, Nutrition & Health segments continuing to drive growth, Symrise is well-positioned to navigate any challenges in the remainder of the year while maintaining its trajectory of long-term success.
