Slide 1: Results for the First half year 2023
Results for the First half year 2023 — Dr. Heinz-Jürgen Bertram (CEO), Olaf Klinger (CFO) 2 August 2023
Slide 2: Agenda
Agenda Overview — 01 02 03 H1 2023 Financials Strategic Initiatives / at a Glance 3 H1 2023 8 Outlook 18 2
Slide 3: H1 2023 at a Glance
01 H1 2023 at a Glance 3
Slide 4: Financial highlights H1 2023
Financial highlights H1 2023 Symrise continues to deliver good results in difficult times — Sales Business Free Cash Flow1 Earnings per Share (EPS) €2.4bn €106m €1.34 +6.8 % in reporting currency +€1.4m vs. H1 2022 -18.0 % vs. H1 2022 +8.0 % organic growth Normalized EBITDA margin2 Net Income R&D Ex
Slide 5: Sales H1 2023
Sales H1 2023 Organic growth driven by well balanced portfolio mix — Symrise Group In €m (sales growth in %) 8.0% organic sales growth driven by high business dynamics +8.0% organic growth 6.8% +6,8% sales growth in reporting currency negative FX-effect of €62m reported 2,260 2,414 €35m H1 2022 H1 2
Slide 6: Sales by segment H1 2023
Sales by segment H1 2023 Taste, Nutrition & Health enjoyed strong growth dynamics — Taste, Nutrition & Health in €m / organic growth in % Scent & Care in €m / organic growth in % 1,527 1,398 H1 2023 886 863 H1 2023 H1 2022 H1 2022 +11.4% +2.4% +9.3 %* +2.7 %* Growth driven by Fine Fragrances and Cos
Slide 7: Sales by region in H1 2023
Sales by region in H1 2023 Strong organic growth in Latin America and EAME / North — America below last year Sales by region Organic growth by region H1 2023 in % €633m 26 % North €508m NA America Asia/Pacific 21 % -2.9% +4.4% APAC EAME +14.4% Latin America €948m +19.5% 39 % EAME €324m 13 % LATAM 7
Slide 8: Financials H1 2023
02 Financials H1 2023 8
Slide 9: Group H1 2023 Continued organic growth momentum
Group H1 2023 Continued organic growth momentum — Sales development Comments In €m Organic growth of 8.0 % driven by strong and healthy business in both segments. Total sales contribution from portfolio effects (M&A) of €35m: • Wing Biotechnology (China) • Groupe Néroli & Romani (France) Negative cu
Slide 10: Group H1 2023 Profitability on a comparable basis 1.0 pp below prior year
Group H1 2023 Profitability on a comparable basis 1.0 pp below — prior year Comments Pressure on margin, especially in segment Scent & Care, due to In €m H1 2022 H1 2023 Var. % difficult market conditions with inflationary developments and high raw material costs. Sales 2,260 2,414 6.8 In addition,
Slide 11: Group H1 2023 Profitability suffered from difficult market conditions
Group H1 2023 Profitability suffered from difficult market — conditions and increased costs Comments In €m H1 2022 H1 2023 Var. % Sales 2,260 2,414 6.8 Gross margin suffered from increased raw material and energy costs by 2.1 pp vs. last year. Gross profit 871 879 0.9 Depreciation increased due to o
Slide 12: Taste, Nutrition & Health H1 2023
Taste, Nutrition & Health H1 2023 Healthy growth and profitability Short P&L — In €m Sales development H1 20221 H1 2023 Var. % In €m EBITDA 297 335 12.8 EBITDA margin 21.2 % 21.9 % EBIT 198 236 19.2 EBIT margin 14.2 % 15.4 % Comments Organic growth of 11.4 % resulting from both divisions. - Food & B
Slide 13: Scent & Care H1 2023
Scent & Care H1 2023 Moderate sales growth in a challenging Short P&L market — environment In €m Sales development H1 2022 H1 20231 Var. % In €m EBITDA 171 140 -18.1 EBITDA margin 19.8 % 15.8 % EBIT 128 96 -25.0 EBIT margin 14.9 % 10.8 % Comments Organic growth of 2.4 % with a mixed picture within t
Slide 14: EPS Affected by weaker operating results
EPS Affected by weaker operating results — Comments In €m H1 2022 H1 2023 Var. % Financial result: €18m below H1 2022, mainly due to higher interest EBIT1 344 302 -12.1 expenses related to the financing of M&A activities in 2021 & 2022 and interests for pension obligations. Financial result -27 -45
Slide 15: Business Free Cash Flow (BFCF)
Business Free Cash Flow (BFCF) Increase in working capital and higher investments led to a still modest BFCF — BFCF as % of sales BFCF increased by €1.4m to €106m = 4.4 % of sales. 16.0% 14.1% Increase in CAPEX from €91m to 12.7% 11.7% €97m due to incremental investments and 9.9% 9.9% further capaci
Slide 16: Net debt development
Net debt development Increase due to high investment activities — Status Quo Net debt / EBITDA(N) ADF/IDF + Pinova capital increase Net debt of €2,435m (€2,233m in 2022) acquisition & sale Conversion of reflects 2.7 x EBITDA1. Diana + convertible in capital increase new shares Increase driven by wor
Slide 17: Balance sheet Equity ratio of 45.3 %
Balance sheet Equity ratio of 45.3 % — Assets Equity and Liabilities Comments In €m In €m Slight increase in assets primarily from higher trade receivables. 7,783 7,871 7,783 7,871 Increase in working capital mainly due to Cash & equiv. 315 358 530 423 Trade payables - higher sales Trade receivables
Slide 18: Strategic Initiatives / Outlook
03 Strategic Initiatives / Outlook 18
Slide 19: Growth Initiatives
Growth Initiatives Strengthening competitiveness through strategic investments — Taste, Nutrition & Health Scent & Care Cosmetic Ingredients opens new Beauty & Home Care Centre in Paris Expanding innovation to provide customized innovation. Increased share in Swedencare above 30 % Labs for cosmetic
Slide 20: Outlook 2023
Outlook 2023 Proven business model in times of geo-political uncertainties — Targets 2023 Growthenvironment Business dynamics Growth faster than Organic growth Favorable mega trends and the relevant market industry dynamics + 5-7 % 3-4 % Taste, Nutrition & Health building competencies towards comple
Slide 21: Corporate strategy Mid-term targets 2025 remain in place
Corporate strategy Mid-term targets 2025 remain in place — Strategic business model Mid-term targets 2025 Financial targets Sustainability Vision Sales growth 5–7% p.a. (CAGR) Growth Efficiency Portfolio Green house EBITDA margin 20 – 23 % gas emissions due to an expanded 63 %* reduction portfolio C
Slide 22: Symrise AG Financial calendar 2023 Contact
Symrise AG — Financial calendar 2023 Contact Symrise AG Muehlenfeldstraße 1 11/12 October 37603 Holzminden, Germany Capital Markets Days 25 October Tobias Erfurth 9M 2023 trading statement Investor Relations tobias.erfurth@symrise.com Bernhard Kott Corporate Communications and Sustainability bernhar
Slide 23: symrise
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