FRANKFURT (dpa-AFX) - Symrise 's business figures and the targets set for 2024 drove its shares higher on Wednesday. With a premium of four percent to a good 100 euros, they reached their highest level since mid-December and were clearly at the top of the leading Dax index.

The fragrance and flavor manufacturer aims to become more profitable again in 2024. With growth above that of the relevant market, which is expected to be 3 to 4 percent, a profit margin before interest, taxes, depreciation and amortization (EBITDA) of around 20 percent is to be achieved. Specifically, Symrise is targeting sales growth of 5 to 7 percent.

Analyst Thomas Maul from DZ Bank assumes that the accelerated growth in the final quarter of 2023 in particular will be well received by the market. Symrise had exceeded the consensus estimate here. The expert sees the adjusted operating margin (EBITDA) in the second half of the year as a downer. This year, however, measures for greater efficiency, stable raw material prices and an improved product range should support profitability.

Symrise's share price reached interim lows of around EUR 92 in January and February. The share price has now risen significantly from these lows.

In mid-December, the company lowered its margin target, causing the share price to plummet by almost 8 percent. Closing the price gap that was torn at a good 106 euros would further improve the technical situation on the chart./bek/mis/stk