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Aug 5 2021, 08:45 IST/BST
Symrise
Top-line momentum sustained
DAVY VIEW
Symrise’s Q2 result confirms strong organic revenue delivery across both platforms – key themes such as a steep recovery in Fine Fragrance sales and impressive beverage category growth are consistent with the peer set. Underlying H1 EBITDA margin was softer than we expected despite strong volume growth and benign raw material cost inflation. Updated guidance largely reflects current model assumptions – as such, we envisage no material change to forecasts.
