Company Research Report: Symrise AG

Company Overview

• Name: Symrise AG

• Mission: Elevate everyday experiences by creating inspiring fragrance, flavor, natural nutrition, and cosmetic ingredients solutions, securing economic success via long-term sustainable solutions while focusing on environmental considerations.

• Founded: 2003 by the merger of Haarmann & Reimer and Dragoco.

• Key People: Dr. Jean-Yves Parisot, Chief Executive Officer.

• Headquarters: Holzminden, Germany.

• Number of Employees: Over 11,000.

• Revenue: €4,730 million in 2023.

• Recognition: Known as a leader in flavors and fragrances, holding a 12% market share globally. Known for a comprehensive, multi-functional portfolio spanning various consumer market segments such as food, beverages, personal care, and fragrances.

Products

Overview

Symrise offers a diverse range of products categorized into two major segments: Taste, Nutrition & Health and Scent & Care.

1. Taste, Nutrition & Health:

• Products: Flavors for food and beverages, probiotics, sustainable marine ingredients for aquaculture, nutritional supplements.

• Description: Focus on enriching food and beverages with taste, texture, color, functionality, and solutions for specialized markets like baby and pet foods.

• Key Features: Solutions prioritize health-promoting benefits, responsible sourcing, and maintaining sustainability.

2. Scent & Care:

• Products: Fragrance and cosmetic ingredients, mint flavors for oral care, aroma chemicals.

• Description: Offers aromatic ingredients for perfumes, personal care, and household products.

• Key Features: Multi-functional benefits for cosmetics including sun protection and anti-aging solutions. High-quality special fragrance and flavor ingredients.

Recent Developments

• Symvision AI™ Launch:

• Date: December 10, 2024.

• Overview: An AI-based multisource trend prediction tool for flavors, ingredients, and claims. It aids in market-specific food and beverage innovations by analyzing multiple data sources.

• Features: Uses advanced algorithms to decode global trends, providing insights on consumer preferences to drive product development.

• Climate Adaptation Initiatives:

• Event: Europe's 1st climate adaptation conference, THE SHIFT, attended by Symrise on December 12, 2024.

• Focus: Highlighted collaborative sustainability projects and Symrise’s commitment to addressing climate change through innovative solutions.

• Strategic Growth and Profitability:

• Announcement: November 20, 2024.

• Details: Upgraded 2024 forecast with organic growth expected above 7% and EBITDA margin above 20%. Long-term targets for organic sales growth set at 5-7% CAGR by 2028, with EBITDA margin aiming for 21-23%.

• Probi Share Acquisition:

• Date: November 20, 2024.

• Action: Symrise announced a cash offer to acquire shares in Probi AB, indicating a strategic investment in probiotic development.

• Commitment to Sustainability:

• Goal: Achieve climate neutrality by 2045 with sustainable sourcing reaching 95% by 2023. Expansion of backward integration for resource efficiency and high-quality product assurance.

• Innovation and Expansion:

• Investment in R&D: €266 million in 2023 to further innovation in product development and sustainability applications.

• Strategic Positions: Emphasizes growth in adjacent markets with an innovative approach such as in the pet and baby food segments.

This extensive market research outlines Symrise's strategic position in the global flavor and fragrance market, its diversified product portfolio, and its commitment to sustainability and innovation. Symrise remains a powerful industry leader embracing an integrated strategy of growth, portfolio diversity, and operational efficiency.