Symrise Ag · XETR:SY1
Symrise — Investor Presentation (November 2016)
27 slides from Symrise's investor presentation, November 2016
Slide 1: Growing Together: The Symrise Company Presentation
DISCLAIMER: ‖The following document contains protected and confidential information from Symrise and must be kept in confidence. This information may not be used by anyone who obtains it if Symrise has not granted written permission to do so.‖ Growing Together The Symrise Company Presentation Tobias
Slide 2: Symrise: Successful since 1874
Symrise Successful since 1874 (with acquired roots into 1795) Haarmann & Reimer (1874 – 2003) Dragoco Gerberding (1919 – 2003) Symrise (since 2003) Year Year Year 1874 - Chemist Dr. Haarmann discovers method for 1919 - Hairdresser Gerberding begins manufacturing 2003 - Merger of Haarmann & Reimer an
Slide 3: The Symrise Group: 84 sites around the world
The Symrise Group 84 sites around the world EAME 43% LATAM 1,131m 13% Sales 328m 2015 €2.6bn APAC North America 22% 22% 571m 572m 3
Slide 4: Flavor, Fragrances & Special Ingredients
Flavor, Fragrances & Special Ingredients Key buying criteria for consumers € 9.4 bn Flavors (incl. Pet Food) 1 2 3 4 € 7.7 bn Perfume Oils € 5.2 bn Aroma Molecules and cosmetic ingredients Givaudan Symrise Firmenich IFF Others 18% 12% 12% 12% 46% ∙ €22.3bn AFF market with long-term growth of 2-3% p.
Slide 5: Symrise Portfolio: Well balanced
Symrise Portfolio Well balanced Segment Sales Split Sales in Emerging Markets Sales with Customer Groups In € % Group Sales % Group Sales Scent & Care Flavor & Nutrition Mature Emerging Global Local 1,074m 2015 1,528m Markets 2015 Markets Customers Customers 2015 (41%) (59%) 54% 46% 34% 33% Regional
Slide 6: Proven track-record since the IPO
Proven track-record since the IPO Sustainable growth with increasing profitability Sales/EBITDA Sales in € million, EBITDA in € million, margin in % Margin 19.8 21.3 19.9 18.0 21.1 20.0 19.5 20.4 21.9 22.0 CAGR 06 – 15 8.7% Sales 1.229 1.275 1.320 1.362 1.572 1.584 1.735 1.830 2.120 2.602 EBITDA 243
Slide 7: Corporate structure: Two segments with five divisions
Corporate structure Two segments with five divisions Segments Flavor & Nutrition Scent & Care Divisions Flavors Diana Fragrances Cosmetic Aroma Ingredients Molecules Business Beverages, Snack Food, Fine Fragrances, Cosmetic Fragrance Units Food, Culinary Pet Food, Personal Care, Ingredients, Ingredi
Slide 8: Our Strategy: Proven strategy with high potential
Our Strategy Proven strategy with high potential Vision — Symrise combines entrepreneurial activities with sustainable action Sustainability — Three-pillar strategy is based on G Growth E Efficiency P Portfolio growth, efficiency and portfolio ∙ Growth in ∙ Specific efficiency ∙ Portfolio dynamic em
Slide 9: New Markets: Entering as a first mover
New Markets Entering as a first mover ―Frontier Markets‖ within the emerging markets showing the strongest growth — Founding own subsidiary in Iran (market is open for Western partnerships) — Diana Pet Food production site opened in Russia (traditionally large market for pet food, growing quickly) —
Slide 10: Greater efficiency: access to key raw materials
Greater efficiency By means of access to important key raw materials Backward Integration strongly enhanced via acquisitions of Diana and Pinova Raw Materials Basis Raw Materials Basis Onion Fragrance Ingr. Flavor Citrus Aroma Molecules Vanilla Products and Scent Technologies Menthols & ∙ Sustainabl
Slide 11: Further expansion of the product portfolio
Further expansion of the product portfolio Within present spheres of competency We have already — Consolidation and expanded into new, networking of high-growth competencies, applications over the with a special focus on past years. Diana and Pinova Today, the portfolio — Maintain stretches far beyo
Slide 12: Systematic expansion of Symrise
Systematic expansion of Symrise One third of the business outside F&F Flavor & Nutrition Scent & Care Symrise Portfolio Perfumes, Food and Personal, F&F beverage home and industry Flavors Scent oral care Pet food, Cosmetics, Aqua - Sun- cultures, protection New fields Probiotics Nutrition Care of gr
Slide 13: Organic Growth Initiatives 2016 - 2018
Organic Growth Initiatives 2016 - 2018 Investments to implement strategy and support further growth Strategic priority Initiatives to increase capacities and market presence Targeted capacity Growth 2015/16 expansions in Mature New power station Markets as well as Holzminden 2017 Expansion of Emergi
Slide 14: Spotlight on Diana: Successful integration
Spotlight on Diana: Successful integration High-growth business with complementary competencies Strong portfolio contribution Diana today ∙ Acquired in 2014 ∙ Expanded nutrition and entered the pet food market ∙ Global #1 for pet food (palatability enhancers) ∙ Strengthened core business and custome
Slide 15: Spotlight on Fine Fragrances: De Laire by Symrise
Spotlight on Fine Fragrances: De Laire by Symrise 220 years of strong fine fragrance heritage WHAT IS A BASE DE LAIRE? 220 YEARS OF PARTNERSHIP ∙ A mix of ―captive‖ & exclusive quality of natural 1795: Lautier Fils est. essential oils 1874 : Harmann & Reimer est. 1876 : De Laire est. ∙ Example: Ambr
Slide 16: Spotlight on Cosmetic Ingredients: Beauty+
Spotlight on Cosmetic Ingredients: Beauty+ …increases our differentiation 10 Years Ago Today Tomorrow ∙ Work toward a similar language, driven by consumers’ needs Cosmetic ∙ Sensory and desires Ingredients ∙ WOW effect ∙ Identify common beauty drivers ∙ Provide active working solutions: Driven by Co
Slide 17: Spotlight on Aroma Molecules: Pinova Group
Spotlight on Aroma Molecules: Pinova Group Market leading position in fragrance ingredients Division Aroma Molecules Fragrance and Sensory Performance Ingredients Specialties Application Areas: Fragrances, Cosmetic Ingredients, Application Areas: Industrial, e.g. Sold to DRT, a long-standing Home ca
Slide 18: Highlights 9M 2016
Highlights 9M 2016 Continued success – double-digit growth and high profitability Sales EBITDA* Net income* Strengthening the core business +16% € 480m €206m — Sharpening Scent €2,192m +7% +3% & Care portfolio, focus on Aroma EBITDA* margin Earnings per share* Molecules (+11% in reporting currency)
Slide 19: Good momentum in all regions – strongest growth in LATAM
Sales by Region 9M 2016 Good momentum in all regions – strongest growth in LATAM By Region In Emerging Markets Sales in €m, Sales growth in % (in local currency) as % of Group sales North America EAME Mature 9M’16 547 9M’16 906 Markets +26% +5% 57% 9M’15 433 (+27%*) 9M’15 863 (+7%*) Latin America As
Slide 20: Group Key Financials 9M 2016
Group Key Financials 9M 2016 Strong organic growth with declining headwinds from FX Group Sales Development in €m Short P&L in €m 9M 9M 9M 2016 9M 2015 2016 normalized* Var. % +7.6% +10.9% +8.5% -101,7 150,8 Sales 1,977.0 2,192.3 2,192.3 10.9% 166,2 -5.1% EBITDA 448.5 462.6 480.3 7.1% EBITDA margin
Slide 21: Scent & Care 9M 2016
Scent & Care 9M 2016 Shapening Fragrance and Aroma Molecules for further profitable growth S&C Sales Development in €m Short P&L in €m 9M 9M 9M 2016 9M 2015 2016 normalized* Var. % +19.8% -30.3 +22.8% Sales 812.3 997.2 997.2 22.8% +6.7% 160,8 54,3 -3.7% EBITDA 184.9 185.9 203.6 10.1% EBITDA margin 2
Slide 22: Flavor & Nutrition 9M 2016
Flavor & Nutrition 9M 2016 Particularly strong demand in Sweet, Savory, Pet Food F&N Sales Development in €m Short P&L in €m 9M 9M 9M 2015 2016 Var. % +9.7% -10.0 -71.4 +2.6% Sales 1,164.7 1,195.1 2.6% 111,9 -0.9% EBITDA 263.6 276.7 5.0% -6.1% EBITDA margin 22.6% 23.2% EBIT 170.6 182.3 6.8% 1.164,7
Slide 23: Strong EBITDA-growth
Strong EBITDA-growth EPS impacted by D&A increase due to Pinova Holdings 9M 9M 9M 2016 9M in €m 2015 2016 normalized Var. % EBITDA 448.5 462.6 480.3 7.1% D&A (amortization, depreciation and impairment) 129.0 150.8 150.8 17.0% EBIT (income from operations) 319.6 311.7 329.5 3.1% Financial result -33.
Slide 24: Operating Cash Flow 9M 2016
Operating Cash Flow 9M 2016 Strategic seasonal stock building drove working capital increase 9M 9M in €m 2015 2016 Net Income for the period 203.7 199.2 Income taxes 81.9 76.0 Interest result 33.5 36.4 Amortization, depreciation and impairment 129.0 150.8 Other items 15.3 -10.7 Cash flow before work
Slide 25: Balance Sheet 9M 2016 vs. FY 2015
Balance Sheet 9M 2016 vs. FY 2015 Solid financial structure with equity ratio at 32.9% Assets in €m Equity and Liabilities in €m 5000 4,730 5.000 4,730 4,184 261 4,184 551 815 4000 278 4.000 501 462 679 531 1.509 3000 3.000 1.373 2000 2.000 445 580 2.944 228 48 221 50 2.696 1000 1.000 1.588 1.555 21
Slide 26: Outlook 2016: Optimistic for current year
Outlook 2016 Optimistic for current year – long term targets fully intact — Long-term growth perspectives are intact and driven by increasing Targets 2016 world population, strong preference for healthy nutrition and body care Outperform global Flavor & Fragrances market — Regional differences due t
Slide 27: Symrise Investor Relations
Symrise Investor Relations Financial Calendar Contact Investor Relations March 14, 2017 Mühlenfeldstraße 1, 37603 Holzminden, Germany FY 2016 results ir@symrise.com May 09, 2017 Q1 2017 results Tobias Erfurth Phone +49 55 31 90-18 79 Mai 17, 2017 tobias.erfurth@symrise.com Annual General Assembly Di