DGAP-News

Symrise discloses sales figures and confirms profitability target for full year 2020

DGAP-News: Symrise AG / Key word(s): Development of Sales Symrise discloses sales figures and confirms profitability target for full year 2020 26.01.2021 / 18:11 The issuer is solely responsible for the content of this announcement.

Solid growth despite global coronavirus pandemic and cybersecurity attack in mid-December Organic sales growth of 2.7 % in the financial year 2020 Group sales in reporting currency up 3.3 % to € 3.521 billion Profitability target for 2020 confirmed / expected EBITDA margin at the lower end of the guidance range of 21 to 22 %

Symrise AG announces its sales figures for the financial year 2020 due to a special event end of last year. The Company achieved organic sales growth of 2.7 % which is slightly below the targeted range of 3 to 4 %. This is due to a cybersecurity attack in mid-December 2020, which temporarily caused significant disruptions to business operations. This one-time effect is reflected in the sales figures of the fourth quarter with an organic growth of 0.7 %. Meanwhile production processes have been restored globally. With respect to the profitability target, Symrise expects an EBITDA margin at the lower end of the guidance range of 21 to 22 %.

"Symrise maintained a very solid performance in a market environment impacted by the coronavirus pandemic. We were well on track until mid-December 2020 when we became the target of a criminal cybersecurity attack with blackmailing intent. It was out of question for us to give in. As a consequence, our business operations were at times severely restricted and we were therefore not able to fully achieve our growth targets. However, we follow a clear ethical compass and reject any form of criminal fraud or extortion. Although there were some delays in production and logistics, customers and business partners encouraged us in our position and we expressly thank them for that. Our business operations are meanwhile largely back to normal, and we are proceeding at high speed to clear the backlog of orders," said Dr Heinz-Jürgen Bertram, CEO of Symrise AG.