06 Sep 2021 — The German Stock Exchange has admitted flavor giant Symrise into the DAX stock market index – in line with its expansion from 30 to 40 companies – with effect from September 20.
With a market capitalization of more than €16 billion (US$19 billion), Symrise was a “certain candidate” for promotion to the expanded index, the company notes.
Symrise has already been consistently listed in the MDAX stock index for German companies trading on the Frankfurt Stock Exchange, for the past 14 years.
“Fourteen successful years in the MDAX and now the promotion to Germany’s leading index confirm our strategy of profitable growth that we have been pursuing since our stock market debut in 2006,” comments Heinz-Jürgen Bertram, CEO of Symrise.
“The promotion to the DAX demonstrates that Symrise is an attractive investment and that the market is placing its trust in us.”
Growth trajectory over 14 years
Since December 2006, Symrise AG has been listed in the Prime Standard of the Frankfurt Stock Exchange. The market capitalization at the initial public offering was approximately €2 billion (US$2.4 billion).
Between 2006 and 2020, Symrise achieved Compound Annual Growth Rates (CAGR) of 8 percent for sales and EBITDA.
The company has been focused on continuously expanding its range of product solutions for healthy nutrition.
The company is also committed to avoid greenhouse gas emissions and has set itself the goal of becoming climate positive by 2030. Symrise has already been recognized twice with the German Sustainability Award.
Performance overview for 2021
In the first half of 2021, Symrise performed “outstandingly well.” As pandemic-related pressures eased, the company’s sales and earnings increased substantially.
Product solutions for beverages and food also developed dynamically because falling case numbers for the coronavirus fueled out-of-home consumption, according to Dr. Heinz-Jürgen Bertram.
Alongside catch-up effects in the first quarter resulting from a significant cyber-attack in December, the dynamic in Q2 made a positive contribution. Due to the accelerating business and higher demand, sales increased organically between April and June this year by 8.8 percent.
The company is looking ahead “with confidence” to the second half of the year 2021 even though it is likely that the framework conditions imposed by the pandemic will remain unchanged.
Edited by Benjamin Ferrer
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