Dear Readers and Friends of Symrise,

We are pleased to report on another year of successful performance. We would like to start by thanking our team members across the globe who made this possible. All Symrisers play a crucial role in our success, bringing outstanding expertise, a strong sense of responsibility and extraordinary personal commitment to their work. This proved to be particularly important over the past year. Based on our ONE Symrise Strategy, we advanced our transformation significantly while also delivering solid operating results. We would also like to thank all our customers and shareholders who have placed their trust in us along this journey.

The full year 2025 financial figures underscore our performance. Group organic sales growth reached 2.8%. In Flavor and Fragrance, organic sales growth was significantly higher than the corresponding market growth. Our adjusted operating EBITDA margin advanced from 19.1% in 2023 to 20.7% in 2024 and ultimately to 21.9% in 2025. Business free cash flow margin reached a record high of 15.8%, further enhancing our financial flexibility amid more modest growth.

Our diversified and resilient business model is supported by strong positions along the entire value chain and across regions. This foundation enables us to stay close to our customers, meet global consumer demand through innovative solutions and high-quality service and secure the sourcing of key raw materials.

Building on this strength, our recent investments in our global footprint, including expanded production capacities and application capabilities, enhanced our local presence and regional empowerment. This improved our access to high-growth markets, reinforcing the structural advantages of our divisions and supporting consistently stronger business performance.

To ensure we continue to meet our customers’ needs and create long-term value for shareholders, we have continued to rigorously execute our ONE Symrise strategy, comprising our three strategic pillars of Portfolio, Growth and Efficiency. We have moved our ONE SYM Transformation program well into Phase 2 and are gaining momentum. In the Phase 1, we took a broad self-help approach across the company, advancing key initiatives in active portfolio management, development of differentiated, customer-centric offers, and cost reduction mainly through efficiency improvement. The most visible results were structural savings of around EUR 50 million in 2025, which created important momentum for the next stage.

In this second phase, we are shifting gears by concentrating more on growth through commercial excellence, focusing on the most attractive opportunities in our reference markets and continuing to improve our innovation ecosystem for the benefit of our customers. At the same time, we continue to improve our efficiency through process improvements and corresponding organizational optimization. Equally important is that all measures are supported by increasingly embedded digitalization across the value chain. Together, this integrated approach positions 2026 as a pivotal year in which we accelerate our transformation to enhance our competitiveness in a dynamic market environment and lay the foundation for sustained value creation in the years ahead.

While the economic and geopolitical environment remains uncertain, we are entering the current fiscal year with focus and determination. Our guidance is underpinned above all by the continued execution of the ONE SYM Transformation program. Support comes from strong project activity with key customers, resilience in core end markets and a solid pipeline of new solutions.

For 2026, we expect organic sales growth of 2.0% to 4.0%, an adjusted EBITDA margin of 21.5% to 22.5% and a business free cash flow margin above 14%. We confirm our overall ambition to translate operating leverage and disciplined execution into durable earnings growth generating superior value creation for shareholders.

The Executive Board
Symrise AG