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2023 track record
and 2025 goals
Our integrated corporate strategy links sustainable conduct and economic success closely with each other. In other words, we design our processes in such a way that they have the least possible impact on the environment and allow us to fulfill our social responsibility toward our employees and society.
We are responsible in our global sourcing of raw materials, and we process them sustainably and to an increasing extent using circular economy methods. This protects the natural environment and its biodiversity, which form the basis of our business. In our five target dimensions of “Business,” “Footprint,” “Innovation,” “Sourcing” and “Care,” we meet the requirements for nonfinancial corporate reporting as set out in the CSR Directive Implementation Act (see www.symrise.com/sustainability).
At the same time, we enjoy great commercial success, even in times of crisis: In 2023, despite all the challenges we faced, we once again achieved our targets. Our more than 12,000 employees around the world generated sales of € 4,730 million, an organic growth of 7.9 %. Our EBITDA margin1 likewise reached a healthy value of 19.1 %. That makes us one of the most profitable companies in the industry, just like in previous years.
With this performance, we are laying the foundations for our long-term goals, which we have set out in our integrated corporate strategy. In 2025, we aim to achieve sales of € 5.5 billion to € 6.0 billion with annual growth of 5 % to 7 %. But we are committed to achieving our goals at all levels, including with regard to sustainability, where our aim is for the company as a whole to be net zero starting in 2030.
1
Adjusted for one-time effects
7.9%
organic sales growth generated by Symrise in 2023
BUSINESS
| 2023 track record | Notes | 2025 goals | Notes |
|---|---|---|---|
| 7.9 % organic sales growth | We exceeded our goals and the forecast. | 5 % – 7 % CAGR | We want to grow faster than the market. This allows us to gain market shares and increase the distance between us and smaller competitors. |
| 19.1 % EBITDA margin1 | The figure achieved was lower than the target of around 20 %. | 20 % – 23 % | We improve our profitability by continually increasing efficiency and optimizing the product mix. |
FOOTPRINT
| 2023 track record | Notes | 2025 goals | Notes |
|---|---|---|---|
| 4.4 % improvement in the eco-efficiency of greenhouse gas emissions (Scope 1+2) 22 | We are fully on track to reach our 2025 and 2030 goals. | We achieved our goal for 2020 of improving the eco-efficiency of greenhouse gas emissions by 33 % compared with 2010 ahead of schedule. We have now set for ourselves the 2025 goal of increasing the eco-efficiency of emissions by more than 60 % compared to 2016.2 | We aim to be net zero by 2030, primarily by increasing energy and process efficiency at our production sites and by supporting high-quality and certified climate protection projects. |
| 2.4 % reduction in absolute greenhouse gas emissions (Scope 3) | We only narrowly missed our target for reducing emissions from purchased raw materials and services. We are nevertheless fully on track to reach our 2025 and 2030 goals. | We reduced Scope 3 GHG emissions in category 1 “purchased raw materials and services” by around 43 % between 2016 and 2023. We now want to reduce absolute emissions by 15 % by 2025 compared to 2020. | Through process optimization and with the help of our suppliers and customers, we want to reduce greenhouse gas emissions all along our value chain. |
| 10.7 % improvement in the eco-efficiency of the chemical oxygen demand in wastewater2 | As in the two preceding years, we significantly exceeded the target of 4 %. | Improve the eco-efficiency of the chemical oxygen demand in wastewater by 4 % annually by 2025 or by a total of 60 % in relation to base year 2010.2 | We are increasing the yield of our products by changing our processes to sustainable methods. |
| –6.3 % improvement in the eco-efficiency of hazardous waste2 | Increased production at the largest sites and adjustments to the product portfolio in line with customer requirements have led to an increase in the share of hazardous waste. | Improve the eco-efficiency of hazardous waste by 4 % annually by 2025 or by a total of 60 % compared to base year 2010.2 | We will use exclusively sustainable packaging materials by 2025 and recycle – wherever possible – more than 95 % of the plastic we use. |
| –30.9 % reduction in water use in regions with water stress | Water use at sites in regions with water stress3 dropped by 30.9 % as a result of considerably redoubling efforts to reduce water consumption. | 15 % reduction of water use at all production sites in arid regions (2018 – 2025). | We continually reduce our water usage by using water-saving technologies and raising awareness in our company of the importance of using less. |
INNOVATION
| 2023 track record | Notes | 2025 goals | Notes |
|---|---|---|---|
| 15.0 % sales from new product developments4 | We exceeded our target amount of > 15 % once again. | Each year we develop new products that are consistent with sustainability criteria, and these products account for a share of sales of more than 15 % over the past three years. | Networking the highly diverse areas of expertise of Taste, Nutrition & Health and Scent & Care. |
SOURCING
| 2023 track record | Notes | 2025 goals | Notes |
|---|---|---|---|
| All suppliers were subjected to a sustainability risk assessment | Based on the German Supply Chain Due Diligence Act (LkSG), all suppliers were subjected to a sustainability risk assessment. | We respect human rights and protect the environment by implementing defined due diligence measures in our value chain. | We continuously reduce the risks to human rights and the environment and take responsibility in our value chain. |
| 95 % of strategic biological raw materials are procured from sustainable sources | By intensifying our backward integration, we were able to improve our performance in this area. In light of increasing sustainability challenges and new reporting requirements (CSRD), we will review the material scope of this corporate goal in 2024. | 100 % sustainable sourcing of all strategic biological raw materials by 2025. | We aim for sustainability in the supply chain by continuing to strengthen our backward integration, intensifying cooperation with suppliers and initiating joint supply chain projects and programs. |
CARE
| 2023 track record | Notes | 2025 goals | Notes |
|---|---|---|---|
| 13.5 % women in the first management level | Awareness training; increasing and promoting cultural diversity (Symrise has employees from more than 80 different countries of origin). Talent development, focus on a high proportion of women taking part; a well-established and active network of Sustainability Ambassadors worldwide. | Increase the percentage of women in the first management level to 30 % by 2025. | We believe in strong, diverse leadership and offer good advancement opportunities for women. |
| 38 % women in the second management level | Increase the percentage of women in the second management level to 45 % by 2025. | We promote the career development of women and provide them with freedom so they can balance career and family. | |
| 2.3 MAQ5 accident frequency | Thanks to our Symsafe activities, we were able to reduce the MAQ ratio. | Industry-leading occupational safety < 1.5 MAQ. | Continuous implementation of a zero-accident culture through company-wide initiatives and training. To help improve occupational safety, we launched the SymSafe project in 2021. |
1
Adjusted for one-time effects
2
All figures relative to the value added
3
At production sites in regions with water stress (= Egypt, India, Mexico, Spain, Chile)
4
Relative to market launch in the past three years
5
MAQ = work accidents (>1 lost day) x 1 million/working hours