Symrise reported a good set of figures with only a moderate dip (-90bp) in the gross profit margin for the full year. Looking more closely, one can see a 190bp drop yoy. On the other hand, the company reported high single-digit to low double-digit organic growth, which should imply a stronger than usual pricing momentum.
Reported figures were ahead of our positive expectations (sales: +1.3%; EBITDA: +1.5%), whereas they gave a mixed picture to consensus (sales: +0.6%; EBITDA: -0.4%).
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Margins will not fall off a cliff
Symrise reported a good set of figures with only a moderate dip (-90bp) in the gross profit margin for the full year. Looking more closely, one can see a 190bp drop yoy. On the other hand, the company reported high single-digit to low double-digit organic growth, which should imply a stronger than usual pricing momentum.
Reported figures were ahead of our positive expectations (sales: +1.3%; EBITDA: +1.5%), whereas they gave a mixed picture to consensus (sales: +0.6%; EBITDA: -0.4%).