Symrise Ag · XETR:SY1
Symrise — H1 2019 Earnings Presentation
21 slides from Symrise's earnings presentation, September 2019
Slide 1: Symrise AG Investor 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.” Symrise AG Investor Presentation Dr. Heinz-Juergen Bertr
Slide 2: Symrise Overview
Symrise Overview Based on Symrise’s products provide exciting flavor and Sales: € 3.2bn* ~10,000 fragrance experiences and contribute to the health and well-being of consumers in EBITDA-margin: 20 %* mostly natural raw materials ~160 countries around including vanilla, citrus products, onions, fish,
Slide 3: Our Industry: An attractive niche
Our Industry An attractive niche Megatrends support organic growth: Industry tied to population growth and …health & wellness … middle class boom & urbanization … naturalness & disposable income; little dependence on cyclical, sustainability … traceability … vegetarian/vegan/halal/kosher food … econ
Slide 4: Our Global Footprint
Our Global Footprint >100 sites around the World 4
Slide 5: Our Organizational Structure
Our Organizational Structure We operate our business through three segments Sales development In €m FLAVOR NUTRITION SCENT & CARE Flavor Diana Fragrances Cosmetic Ingredients Aroma Molecules Beverages Food Fine fragrances Cosmetic actives Scent componentsMargin Savory Pet food Consumer fragrances EB
Slide 6: Our Corporate Strategy
Our Corporate strategy Consequent strategy implementation pays off Vision Vision Strategic priorities Growth Growth Efficiency Portfolio Focus on organic growth by implementation · Growth in Emerging · Specific efficiency · Portfolio expansion in of incremental growth projects and capacity Markets p
Slide 7: Driving growth through targeted investments
Driving growth through targeted investments … especially in R&D, technology and capacity expansion Selected growth initiatives 2018 Pet Food Pet Food Fragrances Cosmetic Ingredients and capacity expansion Elven/France Cervera/Spain Shanghai/China Charleston/USA In €m Production. €10m Production. €7m
Slide 8: Carefully selected acquisitions like ADF/IDF
… and carefully selected acquisitions like ADF/IDF A unique provider of meat- and egg-based protein ADF/IDF • is operating 2 business segments… … serving a diversified client base Key multinationals $136m Long-standing relationship Chicken 62 % Recurring and stable revenue $84m Egg 38 % Growing regi
Slide 9: Backward integration
Backward integration Serving the trend towards naturals & traceability 1. Strategic acquisitions that enable Industry-leading backward integration us to move closer to the origin of the raw 4. Long-term contracts and materials we process. sustainability partnerships with Naturals and synthetics, e.g
Slide 10: Well-balanced Business Portfolio
Well-balanced Business Portfolio across segments, customers, regions and markets Symrise’s 12 largest customers Sales distribution by Segment Sales distribution by Region Distribution by division / BU Latin Nutrition America Flavor Diana Food Diana Pet Fragnance Oral Care Cosmetic Aroma Food Ingredi
Slide 11: Expansion beyond traditional Flavor & Fragrances
Expansion beyond traditional Flavor & Fragrances A unique portfolio with new growth areas Our portfolio today Leading positions in key application areas Scent Flavors — — Perfumes Nr.1 Nr.1 Natural vanilla Oral care Savory Personal care Beverages Home care Nr.1 Sweet Fragrance ingredients Care Nutri
Slide 12: Scent & Care using Artificial Intelligence
Scent & Care using Artificial Intelligence O Boticario Fragrances Egeo ON You and ON Me June 2019 : The first PHILYRA project launched with O Boticario, the #1 Brazilian Fragrance Company — PHILYRA created two fine fragrances for the youth-oriented EGEO brand The AI fragrances scored higher than mar
Slide 13: Vanilla for Change initiative
“Vanilla for Change” initiative Shaping the future of young people in Madagascar and the UK “Vanilla for Change” initiative 383.0 Joint initiative with Unilever, its brand Wall’s, Save the +16.2% Children, ME to WE and Symrise, launched on May 17, 2019 Goal is to reinforce 682.0 1,378.5 the supp
Slide 14: Financial Performance: Profitable growth since IPO
Financial Performance Profitable growth since IPO EBITDA Development of Sales / EBITDA margin-target Sales and EBITDA in €m, margin in % since 2012 22% EBITDA margin ↕ 19.8 21.3 19.9 18.0 21.1 20.0 19.5 20.4 21.9 22.0 21.5 21.0 20.0 19% CAGR 06-18 8.2 % Sales 1,229 1,275 1,320 1,362 1,572 1,584 1,73
Slide 15: Financial Highlights H1 2019
Financial Highlights H1 2019 Continued strong performance Sales Business Free Net debt / EBITDA(N)1 Cash Flow € 1,692m +7.4% 7.8% 1.8x +6.2% vs. 7.3 % H1 2018 Incl. provisions for Organic growth in Reporting pensions 2.7x currency EBITDA(N)1 margin Net income¹ Outlook 2019: Improved EBITDA(N)1 margi
Slide 16: Operational Highlights H1
Operational Highlights H1 Strategy execution to achieve objectives 2019 Growth Efficiency Portfolio Menthol: ramp up of new plant in the Cosmetic Ingredients: opening of Acquisition ADF/IDF: US, start of production in Q3 new development center in Holzminden US-based provider of natural protein — — s
Slide 17: Investment Highlights
Investment Highlights Diversified, stable and profitable growth Broadest product portfolio in the industry Highest growth rates in the industry, …pet food… probiotics… cosmetics… flavors … fragrances… aroma further expansion in adjacent areas molecules … aqua … Leading supplier of consumer ingredien
Slide 18: Outlook specified for 2019
Outlook specified for 2019 Normalized EBITDA margin of around 21 % Targets 2019 Growth dynamics — Organic growth Strategically well-positioned, sustainable growth opportunities through differentiated portfolio 5-7% — Added competencies through integration of ADF/IDF CAGR — Industry-leading backward
Slide 19: Objectives 2025
Objectives 2025 supported by our proven strategy Financial goals until 2020 until 2025 Sales growth 5 – 7 % pa (CAGR) 5 – 7 % pa (CAGR) Sales in Emerging Markets > 50 % > 50 % Customer mix 1/3 global, regional, local 1/3 global, regional, local EBITDA margin 19 – 22 % 20 – 23 % due to more favorable
Slide 20: Long-term growth objective confirmed
Long-term growth objective confirmed Doubling sales by 2025 Long-term objectives 2025 Efficient set up, global In € bn presence and strong portfolio support business performance in mid-term until 2022 as well as in long-term 2025 € 5.5 – 6.0 bn € 4.0 – 4.5 bn € 3.0 bn Organic growth € 1.3 bn Increme
Slide 21: Financial calendar & contact
Symrise AG Financial calendar & contact Financial Calendar Contact Symrise AG October 29, 2019 Mühlenfeldstraße 1 9M 2019 trading statement 37603 Holzminden, Germany March 11, 2020 Tobias Erfurth Full Year Results 2019, Frankfurt Investor Relations [email protected] Bernhard Kott Corporate