Symrise AG · XETR:SY1
Symrise — CAGE conference 2014
27 slides from Symrise's conference presentation, Mar 19, 2014
Slide 1: Symrise Company Update, CAGE conference 2014
SYMRISE COMPANY UPDATE CAGE conference 2014 Dr. Heinz-Jürgen Bertram (CEO) Bernd Hirsch (CFO) London, March 19, 2014 PAGE 1
Slide 2: Agenda
AGENDA COMPANY PROFILE FINANCIALS STRATEGIC PRIORITIES OUTLOOK PAGE 2
Slide 3: 10 Years Symrise: Creating a Global Player
10 YEARS SYMRISE CREATING A GLOBAL PLAYER 2006 2003 IPO of Symrise, Symrise founded trading on the 2008 2010 from the merger Frankfurt Stock Opening of the The Symrise 2012 Haarmann & Reimer Exchange Global Citrus Center Perfumery School Symrise awarded for and Dragoco (Prime Standard) in Sorocaba,
Slide 4: Symrise Today: Key Figures 2013
SYMRISE TODAY KEY FIGURES 2013 Sales 2013 € 1.83 bn Regional split Employees > 6,000 North America €350m Europe, Africa, Countries > 35 . 0 Middle East €1,830bn €830m Asia €420m R&D expenditures 7% (from Sales) Latin America €230m Equity ratio > 40 % PAGE 4
Slide 5: Our Global Reach: Present in All Key Markets
OUR GLOBAL REACH PRESENT IN ALL KEY MARKETS Production Sales & Marketing Development & Application Research PAGE 5
Slide 6: Lean Corporate Structure: Two Global Divisions
LEAN CORPORATE STRUCTURE TWO GLOBAL DIVISIONS WITH DEDICATED SEGMENTS PAGE 6
Slide 7: Global Consumer & Customer Trends Relevant to Symrise
GLOBAL CONSUMER & CUSTOMER TRENDS RELEVANT TO SYMRISE Health Added Value Fitness Functionality Wellness Health properties Convenience "Snack“ culture Easy access Naturalness Sustainability Organic Environmental No awareness / genetically sustainability modified Social change organisms (GMO free) PAG
Slide 8: Agenda: Financials
AGENDA ayrarigee always inspiring more... FINANCIALS PAGE 8
Slide 9: Highlights 2013: Sales and Earnings at All Time High
HIGHLIGHTS 2013 SALES AND EARNINGS AT ALL TIME HIGH Sales* EBITDA Margin Net income EPS Dividend** +10 % 20.4 % €172m €1.46 €0.70 Sales increase to €1,830m, driven by strong dynamics in all regions and by both divisions North and Latin America strongest regional growth drivers EBITDA at €373m, up by
Slide 10: Sales Growth 2013: Particularly Strong Performance in Scent & Care
SALES GROWTH 2013 PARTICULARLY STRONG PERFORMANCE IN SCENT & CARE Symrise Group Scent & Care in €m in €m +8.8 % +13.0 % +9.8 % 882.8 960.4 997.9 +5.5 % 2012 2013 2013 in LC 1,905.3 Flavor & Nutrition 1,830.4 in €m 1,734.9 +2.1 % +6.5 % 2012 2013 2013 in LC 852.1 869.9 907.4 2012 2013 2013 in LC PAGE
Slide 11: Sales by Regions 2013
SALES BY REGIONS 2013 DOUBLE-DIGIT GROWTH IN THE AMERICAS AND ASIA/PACIFIC Regional Sales Split Sales in Emerging Markets North America – growth particularly driven by organic growth in Fragrances, Oral Care, Aroma Molecules, Savory and Beverages; In €m (LC sales growth in %) % Group Sales as well a
Slide 12: EBITDA 2013: Excellent Profitability
EBITDA 2013 EXCELLENT PROFITABILITY WITH GROUP EBITDA MARGIN OF 20.4 % Regional Sales Split Scent & Care in €m in €m 20.3 % 18.2 % 161.1 194.5 20.4 % 19.5 % 2012 2013 338,9 373,1 Flavor & Nutrition in €m 2012 2013 20.9 % 20.5 % 177.8 178.6 2012 2013 PAGE 12
Slide 13: Sustainable Profitable Growth Since IPO
SUSTAINABLE PROFITABLE GROWTH SINCE IPO 1,830 1,735 Operating Cash Flow in €m CAGR 1,572 1,584 ~ 6% 275 1,362 149 +85 % 1,275 1,320 1,229 SALES Net debt incl. pensions / EBITDA 3.2x -38 % in €m 2.0x 373 Equity Ratio 43 % EBITDA 243 272 263 246 331 316 339 372 31 % +39 % 2006 * 2007 2008 2009 2010 20
Slide 14: Agenda: Strategic Priorities
AGENDA STRATEGIC PRIORITIES PAGE 14
Slide 15: Attractive Market: Favorable Industry Dynamics
ATTRACTIVE MARKET FAVORABLE INDUSTRY DYNAMICS Global growth prospects: Success of consumer goods triggered by quality and distinctiveness average market growth of 2-3 % per annum only a fraction of total product costs - but a key benefiting from global mega trends such as buying criteria for consume
Slide 16: Defined Corporate Strategy Aiming at Sustained Profitable Growth
DEFINED CORPORATE STRATEGY AIMING AT SUSTAINED PROFITABLE GROWTH VISION SUSTAINABILITY GROWTH EFFICIENCY PORTFOLIO SUSTAINABILITY VALUES PAGE 16
Slide 17: Accelerate Growth Through Balanced Customer Portfolio
ACCELERATE GROWTH THROUGH BALANCED CUSTOMER PORTFOLIO, ENFORCED SALES AND INTELLIGENT ACCOUNT MANAGEMENT Growth Leverage Customer Spectrum through Enforced Sales Initiatives Share of sales according to customer groups in % Comments Global Local Business with global customers has reached Customers Cu
Slide 18: Volume Growth Particularly Driven by Emerging Markets
VOLUME GROWTH PARTICULARLY DRIVEN BY EMERGING MARKETS Growth Different Pace and Nature – Growth in Emerging and Mature Markets F&F volume growth, 2010–2020E (CAGR %) Development of share of sales and investments in Emerging Markets (%) 7 Increase in CAPEX 5-8 % 1,830m 6 1,362m 5 2-3 % +5 % 4 3 48 %
Slide 19: Access to Strategic Raw Materials: Backward Integration
ACCESS TO STRATEGIC RAW MATERIALS BACKWARD INTEGRATION Efficiency Investments in Process Optimization and Production Design Application Flavors Sourcing Application Flavors Sourcing Key Business Segments Most important flavors Strategic Initiatives: Symrise product platforms Mint / Citrus / Vanilla
Slide 20: Comprehensive Portfolio Capitalizing on Health Trends and Sustainability
COMPREHENSIVE PORTFOLIO CAPITALIZING ON HEALTH TRENDS AND SUSTAINABILITY Portfolio Targeted Growth Opportunities Symrise Portfolio Areas of Growth Global Megatrends Biotech-based Diabetes/ Protein Solutions Obesity Masking Personalized Health & Well-Being Pharmabiotics Nutrition Sensitive Anti-aging
Slide 21: Operational Highlights: Value Creating Investments and Strategic Partnerships
OPERATIONAL HIGHLIGHTS VALUE CREATING INVESTMENTS AND STRATEGIC PARTNERSHIPS Portfolio Acquisitions and Alliances with Compelling Rationale Belmay Fragrances Probi AB Rationale: Acquire profitable business in new fast Rationale: Leading company in the field of Probiotics with growing segments such a
Slide 22: Agenda: Outlook
AGENDA symrise always inspiring more... OUTLOOK PAGE 22
Slide 23: Long Term Targets 2012-2020 Based on 3-Pillar Strategy
LONG TERM TARGETS 2012-2020 BASED ON 3-PILLAR STRATEGY Financials Operational Sales increase Total share of Customer base Growth 5–7% 2/3 1/3 CAGR p.a. from Emerging Markets Global, Regional, Local Raw materials EBITDA margin Efficiency 40 % 19 – 22 % from Backward integration Expanded competencies
Slide 24: Global Investment Initiatives to Achieve 2020 Objectives
GLOBAL INVESTMENT INITIATIVES TO ACHIEVE 2020 OBJECTIVES 2017/18 New Plant and capacity 2014 2014 2015/16 2016/17 expansion for New Production Plant New Extraction Plant New Regional New Plant for Fragrance for Vanilla extraction for Natural Raw Development Center Life Essentials in Production in in
Slide 25: Outlook 2014
OUTLOOK 2014 Positive Expectations for the global Flavor & Fragrances (F&F) market with good dynamics Long term trends in Mature and Emerging Markets fully intact – despite some political or economic uncertainties in individual countries Individual currency exchange rates remain under pressure, vola
Slide 26: Always inspiring more
Always inspiring more PAGE 26
Slide 27: Symrise Investor Relations
SYMRISE INVESTOR RELATIONS Financial Calendar: Contact: May 6, 2014 SYMRISE AG Interim Report 1st Quarter 2014 Investor Relations Muehlenfeldstrasse 1 May 14, 2014 37603 Holzminden, Germany Annual General Meeting [email protected] August 7, 2014 Interim Report 2nd Quarter 2014 Tobias Erfurth Phone +49