Latest news with #Jean-YvesParisot
Fashion Network
8 hours ago
- Business
- Fashion Network
Fragrance giant Symrise rethinks growth path for 2025
German fragrance and flavor manufacturer Symrise lowered its organic sales forecast for 2025 on Wednesday, citing more cautious consumer demand in key global markets. The Germany-based group, whose fragrances are used in perfumes by French luxury majors LVMH and Kering, now expects organic sales growth of 3% to 5% for the year, down from its previous forecast of 5% to 7%. It maintained its projected core profit (EBITDA) margin at around 21.5%, slightly above the original guidance of 21%. 'We are observing a shift in global market demand, with heightened consumer caution across certain sectors,' said Jean-Yves Parisot, chief executive officer of Symrise. He added that internal 'self-help initiatives' were expected to support margin improvements. The company aims to reach recurring cost savings of 40 million euros ($46.2 million) in 2025 through operational efficiency efforts, of which 20 million euros had already been achieved in the first half of the year, it said. Revenue for the January–June period fell 0.5% on a reported basis to 2.55 billion euros, below analyst expectations of 2.60 billion euros, according to a Vara Research poll. However, organic sales — which exclude currency exchange effects — rose 3.1% during the same period. Swiss competitor Givaudan also reported weaker-than-expected organic sales growth last week, highlighting broader concerns over softening demand in the sector. 'U.S. demand has simply weakened over the past few months,' said Olaf Klinger, chief financial officer at Symrise, during a conference call. He noted that the pet nutrition and UV filter categories were among the most affected. On the subject of U.S. tariffs, Klinger said the company had already implemented price increases in select cases and was prepared with additional mitigation strategies. 'We have the opportunity to relocate products if the tariff situation does not allow continued delivery from certain regions,' he said. 'We also have reformulation options, meaning sourcing raw materials from other regions to ultimately manage tariff situations.' ($1 = 0.8656 euros)
Fashion Network
9 hours ago
- Business
- Fashion Network
Fragrance giant Symrise rethinks growth path for 2025
German fragrance and flavor manufacturer Symrise lowered its organic sales forecast for 2025 on Wednesday, citing more cautious consumer demand in key global markets. The Germany-based group, whose fragrances are used in perfumes by French luxury majors LVMH and Kering, now expects organic sales growth of 3% to 5% for the year, down from its previous forecast of 5% to 7%. It maintained its projected core profit (EBITDA) margin at around 21.5%, slightly above the original guidance of 21%. 'We are observing a shift in global market demand, with heightened consumer caution across certain sectors,' said Jean-Yves Parisot, chief executive officer of Symrise. He added that internal 'self-help initiatives' were expected to support margin improvements. The company aims to reach recurring cost savings of 40 million euros ($46.2 million) in 2025 through operational efficiency efforts, of which 20 million euros had already been achieved in the first half of the year, it said. Revenue for the January–June period fell 0.5% on a reported basis to 2.55 billion euros, below analyst expectations of 2.60 billion euros, according to a Vara Research poll. However, organic sales — which exclude currency exchange effects — rose 3.1% during the same period. Swiss competitor Givaudan also reported weaker-than-expected organic sales growth last week, highlighting broader concerns over softening demand in the sector. 'U.S. demand has simply weakened over the past few months,' said Olaf Klinger, chief financial officer at Symrise, during a conference call. He noted that the pet nutrition and UV filter categories were among the most affected. On the subject of U.S. tariffs, Klinger said the company had already implemented price increases in select cases and was prepared with additional mitigation strategies. 'We have the opportunity to relocate products if the tariff situation does not allow continued delivery from certain regions,' he said. 'We also have reformulation options, meaning sourcing raw materials from other regions to ultimately manage tariff situations.' ($1 = 0.8656 euros)
Newsweek
23-05-2025
- Business
- Newsweek
From Crisis to Catalyst: How Chemicals Are Powering Tomorrow
For the chemicals industry—so deeply embedded in the machinery of global trade—2025 is a reckoning. In conversations with executives across the sector, one theme surfaced again and again: uncertainty. But beneath the noise, a deeper shift is underway. The industry is no longer content to react; it is rethinking where it operates, how it builds resilience and what role it will now play in a fractured, fast-changing world. And nowhere is this upheaval more apparent than in the turning tides of geopolitics. With supply chain disruptions from the Red Sea to the Panama Canal, conflict from Ukraine to the Middle East and now sweeping tariffs under a second Trump administration in the U.S., the industry is recalibrating—adapting to a world tilting away from global integration toward fragmentation and self-protection. The old logic—low-cost global trade, predictable policy, centralized production—is breaking down. In its place, a new playbook is emerging: one rooted in resilience, reinvention and a sharper sense of long-term purpose. But pressure doesn't just disrupt—it accelerates change. In chemistry, as in life, higher pressures lead to faster reactions. This report captures that pivot, in the voices of those confronting it firsthand. Roberto Ramos, CEO, Braskem. Credit: Coutesy of Braskem. Roberto Ramos, CEO, Braskem. Credit: Coutesy of Braskem. The most significant change is the demise of the European producers, particularly after the Russian invasion of Ukraine. This affected the availability of gas for power generation, causing energy prices to triple. Companies in Europe simply couldn't compete with the rising energy costs. Roberto Ramos, CEO, Braskem. Jean-Yves Parisot, CEO, Symrise. Credit: Courtesy of Symrise. Jean-Yves Parisot, CEO, Symrise. Credit: Courtesy of Symrise. Our biggest challenge is balancing customer needs with innovation. Despite economic pressures and rising tariffs, we're committed to investing in innovation, particularly in health, well-being and beauty. Sourcing natural raw materials is also a challenge, especially with climate change impacting agriculture. Jean-Yves Parisot, CEO, Symrise. This report has been paid for by a third party. The views and opinions expressed are not those of Newsweek and are not an endorsement of the products, services or persons mentioned. Click here to download the full report
