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Symrise AG SY1 Stock Quote

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Morningstar‘s Stock Analysis SY1

Valuation
Currency in EUR
Is it the right time to buy or sell?
Is it the right time to buy or sell?

1-Star Price

INVESTOR

5-Star Price

INVESTOR

Economic Moat

INVESTOR

Capital Allocation

INVESTOR

Symrise's Performance Continues To Be Resilient in a Tough Environment; Guidance Raised

Rob Hales, CFA Equity Analyst

Analyst Note

| Rob Hales, CFA |

Wide-moat Symrise reported first-half EBITDA of EUR 486 million, up 16% versus 2021 and slightly above Vara consensus. First-half organic growth of 10.2% (12% for the second quarter) was ahead of expectations with good price increases offsetting rising costs. Given progress to date, Symrise raised 2022 guidance for organic growth significantly above 7% (previously 5%-7%) with an EBITDA margin of around 21% (unchanged). We expect to tweak our near-term forecast upward, but don’t expect to make a material change to our EUR 98.50 fair value estimate. At current levels, the shares look overvalued.

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Key Statistics SY1

Company Profile SY1

Business Description

Symrise is a global supplier of ingredients for fragrances and flavourings across the food, beverage, household products, and pharmaceutical industries. With 12% market share, it is the world’s fourth-largest supplier of fragrances and flavourings. The company was created after a 2003 merger of two companies that originated in 1874 and 1919. With 9,000 employees, Symrise produces 30,000 products sourced from 10,000 mostly natural raw materials such as vanilla, citrus, blossoms, and plant or animal materials, for more than 6,000 customers.

Contact
Muhlenfeldstrasse 1
Holzminden, ST, 37603, Germany
T +49 5531900
Industry Specialty Chemicals
Most Recent Earnings Dec 31, 2016
Fiscal Year End Dec 31, 2022
Stock Type
Employees 11,627