Symrise AG · XETR:SY1
Symrise — H1 2017 Earnings Presentation
17 slides from Symrise's earnings presentation, August 2017
Slide 1: Symrise AG H1 2017
Symrise AG H1 2017 Tobias Erfurth & Annika Stern, Investor Relations August 2017
Slide 2: Financial Highlights H1 2017
Financial Highlights H1 2017 Symrise again with industry leading organic growth Sales EBITDA Net income € 1.515 bn € 323 mio € 142 mio Earnings per share +5.2 % Organic growth € 1.09 EBITDA margin Cash Flow Convertible of € 175 mio € 400 mio 21.3 % +75 % issued 2
Slide 3: Sales by Region
Sales by Region Positive dynamics in Latin America and EAME By region in € m (sales growth in reporting currency in %) In Emerging Markets % of Group sales North America EAME 57 Mature Markets 367 H1 17 358 H1 16 +2 % 636 615 H1 17 H1 16 +4 % Emerging Markets 43 Latin America Asia / Pacific — +5% gr
Slide 4: Group: Strong organic growth of 5.2%
Group Strong organic growth of 5.2% Sales Comments In € m +5.2% -2.3% +0.7% +3.6% — 10.4 Organic growth of 5.2% in line with mid-term guidance 76.0 despite high comparables. -33.7 — -2.1% Portfolio effect of -2.3% stemming from Pinova Inc. divestment, partly offset by acquisitions of Nutra Canada an
Slide 5: Scent & Care
Scent & Care High comparables and weaker demand in some application areas Sales Comments In € m +1.1% -7.6% +2.1% -4.4% — 7.4 Organic growth slower against high comparables -50.7 13.8 from prior year. -2.1% — Good dynamics in Fine Fragrances and Cosmetic Ingredients offset by weaker demand in Beauty
Slide 6: Flavor
Flavor High growth driven by Sweet and Beverages Sales Comments In € m +8.6% -1.5% +7.2% — 44.7 -7.6 Growth driven by strong demand for sweets and new business with beverages. -2.1% — Strong demand for savory applications in Western Europe and North Africa. 517.8 554.8 — H1 2016 Organic Portfolio FX
Slide 7: Nutrition
Nutrition Continued high growth rates Sales Comments In € m +8.6% +6.2% +1.5% +16.3% — 17.0 4.3 Diana Pet Food: Strong dynamics in all regions. 23.9 -2.1% — Diana Food: Especially high demand in North and South America. — 322.2 277.0 Portfolio growth coming from the acquisitions of Nutra Canada and
Slide 8: EBITDA
EBITDA Remains on a healthy margin level EBITDA Comments In € m — EBITDA- +20.1% +22.2% +22.2% +21.3% Ongoing investments in growth, Margin especially R&D (+9.8%) and S&M (+4.1%). — -11.8 3.1 8.3 EBITDA decline in S&C due to Pinova Inc. divesture as well as weak Beauty Care demand offset by strong F
Slide 9: P&L
P&L Stable bottom-line Short P&L Comments In € m H1 2016 H1 2016 N H1 2017 Change — Nearly stable gross margin of 41.4% Gross profit 607.6 612.3 627.8 2.5% (normalized H1 2016: 41.9%) despite raw material price increases reflects EBITDA 312.7 323.3 322.9 -0.1% robustness of business model. — Depreci
Slide 10: Cash Flow
Cash Flow Improved working capital management supports operating cash flow Cash Flow Analysis Comments In € m — H1 2016 Strong growth of operating +75.0% H1 2017 cash flow achieved with moderate 336.1 303.5 increase in working capital. — 175.0 Investing cash flow in H1 2016 impacted by payments for
Slide 11: Balance Sheet
Balance Sheet Healthy capital structure Balance Sheet Comments In € m — 4,915 4,915 Total assets increased by 3.4%. 4,753 4,753 — Cash & equiv. 302 519 Increase in cash and non-current 883 Receivables 528 1,028 Current liabilities borrowings driven by convertible 575 bond issuance. Repayment of Euro
Slide 12: Acquisition Cobell, UK
Acquisition Cobell, UK Expansion of market presence in beverages Cobell supplies natural ingredients and juice components for the beverage industry Sales 2016: € 58 million. — One of the fastest growing suppliers for the beverage industry, thanks to close customer retention. — The combination of Sym
Slide 13: Expanded Presence in Asia
Expanded Presence in Asia Development centers opened in Singapore and India New Innovation and Technology Center New Creative Center in Singapore in Mumbai Hub for food and nutrition in Asia Pacific. Development studio and laboratories for Fragrance, — Cosmetic Ingredients and Oral Care. Investment
Slide 14: Capacity Expansion at Diana Food
Capacity Expansion at Diana Food New Nutrition site in Georgia, USA Construction of a new production site — Investment of $ 50 million. — New factory on a 40-hectare site for manufacturing of natural, declaration-free food ingredients and product solutions. — Scheduled for completion in 2019. Planne
Slide 15: Outlook
Outlook Symrise optimistic for fiscal year 2017 Consequent implementation of corporate strategy in first half-year Vision Competencies and market presence further enhanced, for example through the acquisition of Cobell Growth Efficiency Portfolio and the implementation of various strategic initiativ
Slide 16: Targets For 2017 And Beyond
Targets For 2017 And Beyond Guidance increased: EBITDA margin 2017 now above 20 % — Targets Targets Long-term growth drivers 2017 2020 remain intact. Growing global population and increasing awareness of balanced nutrition and personal Outperform market care. — 5 –7% growth Expected forecast of Grow
Slide 17: Symrise AG Investor relations
Symrise AG Investor relations Financial Calendar Contact November 8, 2017 Symrise AG 9M 2017 results Investor Relations Mühlenfeldstraße 1 37603 Holzminden, Germany Tobias Erfurth tobias.erfurth@symrise.com Annika Stern annika.stern@symrise.com Christian Haverkamp christian.haverkamp@symrise.com Thi