Germany's Symrise forecasts stable profit margin for 2023

March 08, 2023 07:42 AM CET | By Reuters

(Reuters) - German flavour and fragrance maker Symrise on Wednesday forecast a stable core profit margin for 2023, slightly below market expectations, after it confirmed its preliminary full-year earnings and sales.

The company, whose fragrances go into the perfumes of French luxury giants LVMH and Kering, expects its core profit (EBITDA) margin to reach 20% this year, in line with the 20.0% it reported for 2022 and below analysts' average estimate of 20.4% in a company-provided poll.

(Reporting by Jagoda Darlak and Linda Pasquini in Gdansk; Editing by Milla Nissi)


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