Symrise AG (SYIEY.PK), a German maker of flavors and fragrances, reported Wednesday that its fiscal 2022 consolidated net income attributable amounted to 280 million euros, lower than 374.9 million euros in the previous year due to the impairment of the associated company Swedencare.
Adjusted net income would have been 406 million euros or 2.91 euros per basic share, compared to last year’s 374.9 million euros or 2.74 euros per basic share.
Adjusted EBITDA went up 13 percent to 922 million euros from last year’s 814 million euros.
EBITDA margin was 20 percent, compared to previous year’s 21.3 percent.
Group sales increased by 20.7 percent to 4.62 billion euros from last year’s 3.83 billion euros. Organic growth accelerated to 11.4 percent.
Based on the successful course of business, Symrise said it plans to increase its dividend for the thirteenth time in a row. The Board will propose increasing the dividend for the 2022 fiscal year to 1.05 euros per share at the Annual General Meeting on May 10, up from last year’s 1.02 euros per share.
Looking ahead for fiscal 2023, profitability should remain at the current level with an EBITDA margin of around 20 percent.
Further, Symrise confirmed its long-term profitable growth path. The company continues to expect to grow faster than the relevant market and to increase sales by 5 percent to 7 percent annually (CAGR) until 2025, with an EBITDA margin in the range of 20 percent to 23 percent.
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