Acquisitions in the pet sector boosted Symrise’s revenue and profit in 2022

The German group announced it posted €4.6 billion ($4.85B) in 2022, a 20.7% jump compared to 2021, boosted by “good profitability.”

Symrise’s Taste, Nutrition and Health division’s sales increased by 24.8% to €2.9 billion ($3B), driven by the acquisitions of Giraffe Foods, Schaffelaarbos, and Wing Pet Food.

Symrise said the “positive net effect” of the acquisitions and the disposal of Velcorin and its color business totaled €99 million ($104.4M). 

Net income dropped by €95 million ($100M) to €280 million ($295M) in 2022 because of the “impairment” of Swedencare. 

CEO Heinz-Jürgen Bertram shared that the company developed the portfolio “excellently” through targeted acquisitions and strategic partnerships in 2022. “Our outlook for 2023 is correspondingly optimistic. We believe that we will continue to grow and create sustainable value in the current year,” he added.