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Symrise AG profit misses consensus by 16.9% in Q1

Symrise AG said its first-quarter normalized net income was 49 euro cents per share, compared with the S&P Capital IQ consensus estimate of 59 cents per share.

EPS climbed 29.4% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €63.4 million, a gain of 42.2% from €44.6 million in the year-earlier period.

The normalized profit margin dropped to 9.0% from 9.5% in the year-earlier period.

Total revenue climbed 42.2% on an annual basis to €668.0 million from €469.6 million, and total operating expenses rose 42.7% year over year to €556.6 million from €390.1 million.

Reported net income grew 31.1% from the prior-year period to €68.0 million, or 52 cents per share, from €51.9 million, or 44 cents per share.