Symrise Core Earnings Rise, Dividend Less Than Expected

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Today, despite the downturn, the industry believes that this has led to panic among the brands, but in fact, apart from the brand side, there are still some.

The same will be affected.

Symrise, the world's major flavor and perfume production giant, has recently released its financial report, which has led to a fall in stock prices, although its core earnings rose throughout the year, but its annual dividend is far below market expectations.

Compared with an increase of 16.7% to 246 million 800 thousand euros over the same period, the group decided to issue an annual dividend of 0.80 euros per share, compared with an increase of 6.7% in the previous year's 0.75 euro, but far below the 0.92 euros expected by the market.

As a result, Symrise group's stock price fell 5.68% in the morning.

It is reported that Symrise has achieved an increase of 23.2% in core profit EBITDA to 464 million 500 thousand euros, and the EBITDA profit margin recorded a 20% growth rate, slightly better than that in the previous fiscal year 21.9%.

Compared with the previous fiscal year, year-round sales increased to 22.7% euros, to 2 billion 601 million 700 thousand euros.

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In 2015, when the retail industry was in the doldrums, it also prompted many excellent brands to be bought by big consortia.

As we have reported earlier, in the open market, Burberry is also likely to be vigilant from the consortium's covetous.

But not only that, but some takeovers have come to some big reversals.

We have reported earlier that KKR&Co.LP, a private equity fund of Sandro and Maje, decided at the beginning of September last year to put the SMCP SAS, the parent company of its two luxury brands, on the market at the beginning of this year. This news drew many buyers' negotiations.

And the capital of Ruyi wool textile Limited by Share Ltd from Shandong, China is particularly advanced. After a month's negotiations, it came to the news that its rival Lion Capital LLP launched a bid.

Recently, however, SMCP SAS submitted a IPO registration document to AMF, the French financial market regulator, which is unexpected.

People familiar with the matter said that the reason why the two sides failed to reach a deal was that they could not reach a consensus on the issue of paction volume. In the registration documents submitted by SMCP SAS, three founders held 21.1% of the group's shareholding and 14.57% of their voting rights, while KKR&Co. LP had 69.75% of the shares and 78.83% of the voting rights. Therefore, on the other hand, it seemed to confirm that there was a divergence of opinions on the number of shares sold by the insiders.

However, although the group did not provide any details about the size and time of the IPO in the registration document, it released its 2015 performance data.

SMCP SAS's annual core earnings EBITDA recorded an increase of 44% to 107 million euros, and revenue rose 33% over the same period. This means that the three major brands of the group still maintained a hot sales power of about 32.5% in the second half of the 2015 fiscal year.

And sales in the international market accounted for 48% of the total in the first half of the year, and increased to more than half of the figures. The same store sales increased by 11% year-on-year.

With the slow growth of the global luxury industry, the outstanding performance of Sandro and Maje is undoubtedly very rare.

The design style of the brand is also very much in line with the needs of the current consumer groups. It is expected that not only will it grow rapidly in the local market, but the Chinese market will also need to expand.

However, it is not a foregone conclusion whether Sandro can become a ruyi of Shandong. Since the current KKR&Co.LP holding, the income of SMCP SAS has doubled, and the valuation should be more than 1 billion euros.

Therefore, if the two sides can make progress on the paction volume, perhaps the SMCP SAS that has been submitted to the IPO plan is still expected to become a ruyi of Shandong.