Symrise targets sales of €6 billion by 2025
Symrise was again one of the fastest-growing companies in the industry. This strong performance was carried by good demand across all segments and regions. Earnings before interest, taxes, depreciation and amortization as well as normalized for one-time effects resulting from the acquisition of ADF/IDF (EBITDA(N)) increased by € 76.7 million to € 707.2 million.
"Symrise AG again posted strong growth in 2019. With the acquisition of ADF/IDF, we have continued to expand in fast-growing, high-margin business areas. We have also further diversified our product portfolio and expanded our position in North America. In addition, we made investments to expand our capacities over the course of the year and rolled out new technologies around the world. These targeted growth initiatives, combined with our disciplined cost management, are clearly reflected in our operational development in recent quarters," said Dr. Heinz-Jürgen Bertram, CEO of Symrise AG.
In 2019, Symrise benefited from good capacity utilization and strong demand in all segments and regions. Taking portfolio and exchange rate effects into account, Group sales increased by 8.0 % in the reporting period to € 3,407.9 million (2018: € 3,154.0 million). The organic growth rate achieved a clear plus of 5.7 %. As a result, the Group exceeded the average market growth rate in 2019, which was in the 3 to 4 % range according to estimates. The acquisition of the ADF/IDF Group, a leading US supplier of poultry and egg-based protein specialties, completed in November 2019, contributed approximately € 32 million to Group sales.
By 2025, the Company plans to increase its sales from € 5.5 billion to € 6.0 billion by means of organic growth at an annual rate of 5 to 7 % (CAGR), combined with targeted complementary acquisitions.
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