- Symrise surpassed estimated sales, achieving EU1.29 billion against an expected EU1.27 billion.
- The company’s Taste, Nutrition & Health sector sales fell slightly short of estimates, generating EU775.2 million, compared to the anticipated EU792.1 million.
- Scent & Care sector outperformed expectations with sales of EU516.4 million, significantly higher than the estimated EU481 million.
- Organic sales grew by 10.9%, beating the estimate of 8.86%.
- Taste, Nutrition & Health’s organic sales increased by 7.5%, just under the estimated 7.75%.
- Scent & Care’s organic sales soared with a 13.7% increase, notably higher than the estimated 8.52%.
- Symrise remains confident of its growth and profitability prospects for 2024.
- Despite current market conditions, the company still believes it will grow faster than the relevant market, which is expected to increase about 3% to 4%.
- Assuming raw material costs remain broadly stable, Symrise anticipates an EBITDA margin of approximately 20% in 2024.
- Currently, the company has received 12 buys, 12 holds, and 2 sells from market participants.
A look at Symrise AG Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 2.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Symrise AG shows promising signs for long-term growth. With a solid momentum score of 4, the company is likely to continue its positive trend in the market. Additionally, Symrise AG has scored well in growth and resilience, with scores of 3 in each category, indicating a strong potential for expansion and the ability to withstand economic challenges. While the value and dividend scores are rated at 2, suggesting room for improvement, the overall outlook for Symrise AG appears favorable.
As a diversified chemical manufacturer, Symrise AG produces a wide range of products including perfume oils, fragrance bases, cosmetic raw materials, and plant extracts, among others. The company serves various industries such as fragrances, cosmetics, food, and pharmaceuticals. With its strong momentum, growth, and resilience scores, Symrise AG seems well-positioned for future success in the market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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