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symrise ag (SYIEF) Key Developments

Symrise AG Reports Group Earnings Results for the First Half Ended June 30, 2014; Provides Earnings Guidance for the Year 2014

Symrise AG reported group earnings results for the first half ended June 30, 2014. For the first half, the company increased sales at local currency in all regions, significantly raised the operating result and completed the acquisition of French Diana Group as planned. Sales were EUR 941.8 million against EUR 934.7 million a year ago. Earnings before interest, taxes, depreciation and amortization without special items (EBITDAN) increased significantly by 9 % to EUR 209 million compared to EUR 191 million a year ago. The corresponding normalized EBITDA margin amounted to 22.2 %, compared to 20.5 % in the prior year period. Cash flow from operating activities also increased significantly to EUR 109 million compared to EUR 77 million a year ago. EBIT was EUR 161.9 million against EUR 147.4 million a year ago. Net income for the period was EUR 101.3 million or EUR 0.84 per share against EUR 93.4 million or EUR 0.79 per share a year ago. Following a successful first half-year, the company confirms its outlook for the 2014 fiscal year. The Group further expects solid demand and a positive market development in all regions and in both divisions. For 2014 the company is furthermore confident to outperform local currency growth of the global market for fragrances and flavors. The company continues to aim at an EBITDA margin of more than 20 %. The objectives defined for the 2020 fiscal year continue to apply to the expanded Symrise AG, including the addition of the Diana Group: Symrise aims at an annual sales growth (CAGR) between 5 % and 7 % and an EBITDA margin between 19 % and 22 %.

Symrise Seeks Acquisitions

Symrise AG (XTRA:SY1) will consider new acquisitions in 2015, its Chief Financial Officer was quoted on August 2, 2014 as saying. "We're going to concentrate first in the next six months 100 percent on integrating the Diana group," Bernd Hirsch said in an interview with the newspaper Boersen-Zeitung. "I don't see that we'll be limited in any way whatsoever in the coming year, should we look around for further takeover targets," he said. "We see a good combination of growth and profitability. We're going totally according to plan in terms of our medium-term goals," he told the paper, reported Reuters.

Symrise AG to Report Q2, 2014 Results on Aug 07, 2014

Symrise AG announced that they will report Q2, 2014 results at 7:00 AM, Central European Standard Time on Aug 07, 2014

Symrise AG, Q2 2014 Earnings Call, Aug 07, 2014

Symrise AG, Q2 2014 Earnings Call, Aug 07, 2014

Ajinomoto Reportedly Eye Symrise

Ajinomoto Co., Inc. (TSE:2802) may be interested in buying Symrise AG (XTRA:SY1), Platow Brief reported. Symrise shares gained as much as 7% to €42.05 in Frankfurt trading. Ajinomoto hired an investment bank to help prepare a deal, Platow Brief reported, without saying where it got the information. Stock of Symrise was up 2.2% at €40 as of 10:30 a.m. local time. According to Bloomberg, spokespeople for Symrise and Ajinomoto declined to comment.

 

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