Symrise

Symrise AG (FRA: SY1) is a leading global supplier of fragrances, flavorings, cosmetic active ingredients and raw materials, as well as functional ingredients. The company was established in 2003 through the merger of Haarmann & Reimer and Dragoco, with origins dating back to 1874. Headquartered in Holzminden, Germany, Symrise has over 12,000 employees working at more than 100 sites worldwide, serving over 6,000 customers in approximately 150 countries.

Symrise operates through two main segments:

• Taste, Nutrition & Health: This segment produces flavors and food ingredients for use in foods, beverages, and nutritional products. It includes the following divisions:

• Food & Beverage: Develops flavors for sweet and savory products, as well as beverage flavorings

• Pet Food: Produces palatability enhancers and other ingredients for pet food

• Aqua Feed: Provides solutions for aquaculture nutrition

• Probiotics: Includes the company's majority stake in Probi AB

• Scent & Care: This segment develops, produces and sells fragrances, aroma molecules, and cosmetic ingredients. It comprises the following divisions:

• Fragrance: Creates perfume oils for fine fragrances, personal care and household products

• Aroma Molecules: Produces fragrance and flavor ingredients

• Cosmetic Ingredients: Develops active ingredients and other solutions for cosmetics

In 2023, Symrise generated sales of EUR 4,730 million, representing organic growth of 7.9% compared to the previous year. The company aims to grow faster than the relevant market, with a long-term organic growth target of 5-7% annually. Symrise is targeting sales of EUR 7.5-8.0 billion by 2028 and an EBITDA margin in the range of 20-23% in the medium term.