Symrise Ag · XETR:SY1
Symrise — Investor Presentation (June 2017)
25 slides from Symrise's investor presentation, June 2017
Slide 1: Diversifying Success. Successfully Diversifying.
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.” Diversifying Success. Successfully Diversifying. Symrise
Slide 2: At a Glance
symrise & At a Glance
Slide 3: Close To The End Customer
Close To The End Customer 70-80 Interactions Per Day 3
Slide 4: Special Characteristics Of The F&F Industry
Industry Special Characteristics Of The F&F Industry – – Industry tied to population growth and increasing Sustainability and supply chain management key disposable income; little dependence on cyclical, economic consideration for clients. trends. – – High market concentration, Top4 players with 60%
Slide 5: A Leader in Global Flavors & Fragrances
Symrise AG A Leader in Global Flavors & Fragrances 1st 2003 70 10,000 to produce nature-identical merger of Haarman & production sites raw materials vanillin in 1874 Reimer and Dragoco ~9,000 €2.9bn 6,000 275% employees sales in 2016 global, regional total shareholder return and local clients since
Slide 6: Organizational Structure: A Highly Diversified Business
Organizational Structure A Highly Diversified Business Segment Scent & Care Flavor Nutrition 45% 35% 20% total sales (2016) total sales (2016) total sales (2016) Division Fragrance Cosmetic Ingredients Aroma Molecules Flavor Diana Application Fine Fragrance Actives Special F&F Beverages Food area Be
Slide 7: Global Footprint: Historically Strong Presence in Emerging Markets
Global Footprint Historically Strong Presence in Emerging Markets Sales by region 2016 North America Asia/ €732m Pacific +28% yoy €623m +9% yoy EAME €1,198m Latin +6% yoy America €350m +7% yoy 7
Slide 8: Financial Highlights: Strong Performance in 2016
Financial Highlights Strong Performance in 2016 Sales EBITDA* €625m €2.9bn +9 % Net Income* Operating Cash Flow at reporting currency €266m €339m +8% organic EBITDA* Margin EPS* growth 21.5% €2.05 €0.85 +12% at reporting currency dividend *Normalized for acquisition and integration expenses for the
Slide 9: Track Record Since IPO
Track Record Since IPO Sustainable Growth At High Profitability Levels EBITDA 21.3% 21.9%* 22.0% 21.5%* Margin in % 19.9% 21.1% 20.0% 19.5% 20.4% 18.0% +9.6% CAGR 2007-16 Sales in m € 1,275 1,320 1,362 1,572 1,584 1,735 1,830 2,120 2,602 2,903 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 EPS in
Slide 10: Guidance: Financial Targets Unchanged
Guidance Financial Targets Unchanged 2017 2012- 2020 Sales: Substantially outperform the relevant market growth* 5-7% Sales (CAGR) ~20% EBITDA margin 19-22% EBITDA margin *which is expected to grow at a rate of above 3 % per year 10
Slide 11: Delivering on Strategy 2020
Delivering on Strategy 2020 11
Slide 12: Proven Three Pillar Strategy Since 2009
Overview Proven Three Pillar Strategy Since 2009 Growth Efficiency Portfolio ortfolio Sustainability 12
Slide 13: Growth Supported By Global Megatrends
G E P S Growth Supported By Global Megatrends Urbanization Economic shifts 2050 = 75% of world Demographic population 2030: change Digital age Middle class boom Shifting age pyramids Climate change 3.6bn vs 1.7bn today Millennials: 1/4 of 90% of digital data population: 10 to 24 created in last 2 ye
Slide 14: Emerging Markets: LatAm And Asia/Pacific Driving Global F&F Demand
G E P S Emerging Markets LatAm And Asia/Pacific Driving Global F&F Demand Market growth Selected international markets Share of Group sales CAGR 2015-2020 Symrise Presence since In 2016 (in %) Nigeria 8.5% Columbia 2014 1999 Iran Thailand 2016 5.4% 6.5% China 1982 1986 Vietnam India 2007 1994 57 Mat
Slide 15: Efficiency: Continuously Improving Our Cost Base
G E P S Efficiency Continuously Improving Our Cost Base Increasing automatization of Strengthening cooperation Flavor Business fragrance compounding facilities* of perfumers worldwide Transformation Group New power plant in Holzminden Fragrance reorganization SymTrap® * Already at 90% in Holzminden
Slide 16: Cross-Divisional Networking
G E P S Cross-Divisional Networking Connecting Our Three Segments — Same consumers, often same customers, often same end products — Similar technology platforms Flavor Scent & Care — Often similar molecules/extracts — Regulation Nutrition 16
Slide 17: Portfolio: A Key Differentiator To Competitors
G E P S Portfolio A Key Differentiator To Competitors Traditional F&F: UV filters Beyond F&F: ‘Thinking Sharpening our Portfolio Beverages Cosmetic Outside the Box‘ actives — Savory Probiotics — Expanding fruit and vegetable Legacy business extract portfolio Sweet Aqua UV filters and cosmetic active
Slide 18: Raw Material Portfolio: Backward Integration in Key Resources
G E P S Raw Material Portfolio Backward Integration in Key Resources 42% material >10,000 Vanilla Citrus cost quota raw materials 70% naturals Onion Cinnamon & ginger Banana 30% from backward Beet Root Pine Tree Fruits & seeds integration 18
Slide 19: Financials
PF ser. symrise & Financials
Slide 20: Group Sales FY 2016: Strong Organic Growth Across All Segments
Group Sales FY 2016 Strong Organic Growth Across All Segments Group +8.0% -4.3% +7.9% 207 -112 206 2,903 2,602 2015 Organic growth Portfolio FX 2016 Scent & Care 1,074 58 +5.4 % 208 +19.4 % -29 -2.7% 1,311 +22.1 % Flavor 980 95 +9.7 % -59 -6.1 % 1,016 +3.6 % Nutrition 548 53 +9.7 % -1 -0.3 % -23 - 4
Slide 21: EBITDA By Segment FY 2016
EBITDA By Segment FY 2016 Particularly Strong Profitability in Flavor & Nutrition Scent & Care Flavor Nutrition In €m (margin in % of sales) 21.5% 18.2% 19.7% 22.3% 23.0% 22.3% 23.2% 258 234 134 239 122 231 219 2015 2016 2016 N 2015 2016 2015 2016 +11.5 % +6.8 % +9.6 % — — — Margin reflects acquisit
Slide 22: Group Q1 2017: A Good Start Into 2017
Group Q1 2017 A Good Start Into 2017 Sales EBITDA & EBIT In € m In € m Q1 2016 Q1 2016 N Q1 2017 Change 39 -16 10 EBITDA 153.7 158.5 165.5 4.4% -2.1% +1.3% EBITDA-Margin 21.0% 21.7% 21.6% +5.3% -2.1% EBIT 108.0 112.7 117.3 4.0% EBIT-Margin 14.8% 15.4% 15.3% 765.2 Comments 731.8 — Good organic growth
Slide 23: Wrap-up
always inspiring more...
Slide 24: Investment Case: 'Sweet Spot' in The Value Chain
Investment Case ‘Sweet Spot’ in The Value Chain Resilient business model 1 Attractive niche industry geared towards defensive end-consumer markets Cross-divisional networking Strongly balanced portfolio 4 And research engine across all three segments 2 Across businesses, regions and customer groups
Slide 25: Contact Investor Relations
Contact Investor Relations Financial Calendar Contact – Mühlenfeldstraße 1 August 9, 2017 37603 Holzminden (Germany) H1 Results 2017 [email protected] – November 8, 2017 Q3 Results 2017 Tobias Erfurth Annika Stern Christian Haverkamp [email protected] [email protected] christian.haverka