Symrise annual report projects strong flavours and ingredients growth

The Symrise flavourings, fragrances and functional ingredients group has unveiled its latest annual report highlighting its heightened performance in the global market, writes Neill Barston.

Its 2024 analysis has been published under the banner of ‘Creating One Symrise” and comes as the business has raised the level of dividends to shareholders and continues to expand in spite of wider supply chain challenges.

As previously reported in January, the company’s financial results for the year saw sales up 5.7% to  €4,9 billion across the group, with reported organic sales growth of 8.7 %. Its earnings before tax also rose to €1,033 million, which was € 130 million higher than the previous year’s adjusted figure of € 903 million, underlining its positive position.

In terms of its forward projections across the group, it has anticipated long-term growth of 5 % to 7 % (CAGR) bolstered by its heightened level of investment in its application capacity.

Dr. Jean-Yves Parisot, Chief Executive Officer of Symrise AG believed the company had placed itself in a particularly strong position moving further forward into 2025.

Significantly, the company has continued to make investments in its capabilities including last month signing a deal for a 30,000 m2 land plot in Giza, Egypt. The premises are located within an advanced industrial complex developed by Industrial Development Group (IDG), which it will complete on this autumn and expand its presence in the MENA region.

Commenting on its annual report, Dr Parisot said: “Symrise achieved strong and profitable growth in the past fiscal year, again outperforming the market by a significant margin. Our ONE Symrise strategy gives us a strong foundation for leveraging our potential in what remains a challenging geopolitical and economic environment.

Thanks to our consistent focus on growth, efficiency, and the further optimisation of our portfolio, we will be able to achieve another solid, sustainable, and profitable result in the current fiscal year. Our shareholders should also benefit from this in the future.”

As the company noted, its latest strategy is aiming at unleashing the company’s potential and ensuring sustainable and profitable growth. Focusing on the three strategic pillars, Growth, Efficiency and Portfolio, key initiatives were launched. They include the development of a ONE Innovation ecosystem and the deployment of best practices to ensure a high level of efficiency in all processes and functions.

The company has also outlined its sustainability vision in its annual report, including concerning its use of  natural raw materials. The business asserted that it applies high sustainability standards that include respect for human rights. The use of valuable resources is optimised by deploying artificial intelligence in product development and production. In addition, the principles of green chemistry are playing an increasingly important role.

Michael König, Chairman of the Supervisory Board added: “Symrise stands for sustainability and consistency. By early renewing the extension of Stepanie Cossmann’s contract until 2030, we are sending a signal of continuity while underlining our recognition of her excellent performance. We look forward to continued collaboration with Stephanie toward our common goal of continuously expanding the position of Symrise as a leading company in the industry.”