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    SY1   DE000SYM9999

SYMRISE AG

(SY1)
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Symrise : reorganizes business with cosmetic ingredients and perfume compositions

04/06/2021 | 05:58am EDT

04/06/2021 Scent and Care| Corporate

- Dr. Jörn Andreas taking responsibility for the Cosmetic Ingredients division

- Eder Ramos becoming responsible for the Fragrance division

- Geared towards growth of rapidly expanding divisions and customer-oriented service models

Symrise AG is reorganizing its Scent & Care segment, the business with fragrances, perfume compositions and cosmetic ingredients. The company wants to further develop its divisions strategically and continue its dynamic growth. Investments, sustainable technologies and processes will strengthen profitability at the same time. Symrise wants to offer customers advanced solutions and service models through its diversified product platforms.

Dr. Jörn Andreas is taking over global responsibility for the Cosmetic Ingredients division. He has already held multiple managing functions at Symrise in the Holzminden headquarters, the USA, France and Sweden. He intends to use his experience from these areas in his new role. He will be leading the division from Holzminden. Andreas has set himself the goal of expanding the leading position that Symrise holds in cosmetic ingredients through targeted investments in innovation and extending the product portfolio strategically.

Increased focus on innovation based on ecologically responsibly obtained raw materials and sustainable processes like the implementation of 'green chemistry' shall create additional momentum for growth. The division offers numerous solutions in this area already, such as multifunctional ingredients made from byproducts of the sugar cane industry and probiotic-based active ingredients to protect sensitive skin. New business models and targeted capacity expansions will support growth.

Eder Ramos, the current head of the Cosmetic Ingredients division, is taking over global responsibility for the Fragrance business. Ramos has been working in managing roles at Symrise for several years, for example as Regional and Division Head in Europe and Latin America. He will be leading the global activities of the Fragrance business from Paris. In a significant first milestone, he is implementing the integration of the Sensient fragrance business, headquartered in Granada, after approval from the authorities. The Fragrance division has positioned itself in the market with creativity and innovative technologies, such as the successful integration of artificial intelligence. Ramos also intends to promote ethical, responsible supply chains. The division relies on the traceability of its globally sourced natural raw materials. This includes lavender from France, patchouli from Indonesia, vetiver and geraniol from Madagascar and many others.

'Both divisions offer promising growth potential in our core areas of luxury perfumes, personal care and hygiene,' confirms Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG. 'Both managers contribute broad international experience and market knowledge and will continue the successful development of the divisions.' Dr. Norbert Richter will continue to lead the Aroma Molecules division, which also belongs to this segment.

[Link] Dr. Jörn Andreas [Link] Eder Ramos

Disclaimer

Symrise AG published this content on 06 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 April 2021 09:57:04 UTC.


© Publicnow 2021
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Financials
Sales 2021 3 710 M 4 476 M 4 476 M
Net income 2021 355 M 428 M 428 M
Net Debt 2021 1 286 M 1 552 M 1 552 M
P/E ratio 2021 42,0x
Yield 2021 1,00%
Capitalization 14 525 M 17 510 M 17 523 M
EV / Sales 2021 4,26x
EV / Sales 2022 3,96x
Nbr of Employees 10 531
Free-Float 94,8%
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Technical analysis trends SYMRISE AG
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TrendsBullishBullishNeutral
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Mean consensus HOLD
Number of Analysts 26
Average target price 105,96 €
Last Close Price 107,25 €
Spread / Highest target 32,4%
Spread / Average Target -1,20%
Spread / Lowest Target -20,7%
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Managers and Directors
NameTitle
Heinz-Jürgen Bertram Chief Executive Officer
Olaf Klinger Chief Financial Officer
Michael König Chairman-Supervisory Board
Horst-Otto Gerberding Member-Supervisory Board
Peter Winkelmann Member-Supervisory Board
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