Symrise AG reliably continued its profitable growth course in 2020 despite the challenging environment. The group increased its sales by 3.3 % to € 3.52 bn taking into account portfolio and currency translation effects. In organic terms, sales went up by 2.7%. The group thus significantly outperformed market growth, which is estimated at 1.0% for 2020. At the same time, Symrise stayed behind its defined sales target, as the business development in the month of December was impacted by a criminal cyber-attack.
Earnings before interest, taxes, depreciation and amortization (Ebitda) rose by 5.8% to € 742 m in 2020. Profitability reached a very high level with an Ebitda margin of 21.1% and was within the expected margin range.
Dr Heinz Jürgen Bertram, CEO of Symrise AG, said: “In the historically exceptionally difficult year 2020, Symrise AG achieved a very solid result. Despite the shifts in demand resulting from the global coronavirus pandemic, we did an excellent job of staying on track until our progress was thwarted by a criminal cyber-attack on the final miles. Even though we were not able to fully achieve our growth targets, we nevertheless kept our profitability at a high level and continued to increase earnings. Battling the pandemic will continue to define people’s everyday lives and economic conditions in 2021. However, we look with confidence into the current financial year and expect reliable demand. Against this background, we are targeting organic sales growth of 5 to 7% and an Ebitda margin of around 21%”.