THE WHAT? Symrise has announced its results for the first half of fiscal 2023. The German ingredients supplier reported sales of €2,414 million, up 6.8 percent on the same period a year ago. EBITDA was down on last year’s figures at €446 million due to a one-time effect relating to the shutdown of the Colonel Island site.

THE DETAILS Both segments contributed to the group’s sales performance, Symrise said, with Taste, Nutrition & Health growing 11.4 percent and Scent & Care inching up 2.4 percent.

The company confirmed its growth and profitability targets, forecasting organic sales growth of 5 to 7 percent in 2023.

THE WHY? Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG, commented, “Symrise has a proven and stable business model with comparatively low risk content. The Group is broadly diversified and robustly positioned. However, persistently high inflation has resulted in cost increases. The company has been able to partially offset until now through strict cost management and price increases. Nevertheless, we are starting the second half of the year with confidence.”