Symrise Shares 2020 Sales Figures

Symrise AG has announced its sales figures for the financial year 2020.
 
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. 

“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.
 
Moving forward, the company aims to increase its annual sales to €5.5 to 6.0 billion ($6.7 to 7.3 billion) by 2025. Symrise wants to achieve this with annual organic growth of 5 to 7% (CAGR) as well as additional targeted acquisitions. In the medium term, profitability should remain within a target corridor of 20 to 23%.
 
Symrise will publish the audited, complete corporate and financial report for the 2020 fiscal year as scheduled on March 9, 2021.