“The business will continue to develop stably.”
(Photo: Symrise)
Dusseldorf Heinz-Jürgen Bertram is probably one of the least known of the 40 Dax bosses. This also applies to Symrise, the fragrance and flavorings manufacturer that he has headed for 13 years. That doesn’t bother him, Bertram told the Handelsblatt. “I can live with the fact that we are not in the limelight. That suits us well.” It’s all about developing the company and delivering good figures.
And the 63-year-old cannot be denied that. Since 2006, Symrise has increased its annual sales by an average of 7.8 percent. Since then, the Ebitda margin has been stable at around 20 percent – even in the corona crisis, the group based in Holzminden in Lower Saxony is highly profitable.
After being promoted to the Dax in autumn, Bertram presented its balance sheet in the top stock market league for the first time on Tuesday. And delivered good figures again: Symrise had sales of around 3.8 billion euros in 2021 – 8.7 percent more than in the previous year. Before interest, taxes, depreciation and amortization, Symrise achieved a profit (Ebitda) of 814 million euros – almost ten percent more than in the previous year. “2021 was an all-round successful year for Symrise,” says Bertram. The stockbrokers saw it that way: With a plus of more than four percent, the papers were the biggest winners in the Dax in the afternoon.
Although Symrise is not the focus of public attention, consumers come into contact with its products 20 to 30 times a day on average. The group ensures, for example, that toothpaste tastes like mint or ice cream like vanilla. Hardly any cosmetics or food manufacturer can do without the company’s supplies. Customers include Persil manufacturer Henkel and Dove and Langnese producer Unilever.
Top jobs of the day
Find the best jobs now and
be notified by email.
Symrise’s success is closely linked to Bertram’s work. The doctor of chemistry and son of a farmer has worked for the company since it was formed from a merger in 2003. He has been on the board of directors for over 15 years. Bertram has been there from the start, knows the company and the industry down to the last detail. He is considered persistent and a manager with vision.
>> Read also: Economic miracle of the 2010s: Why the unknown Dax newcomer Symrise has been growing for years
Bertram laid the foundation for success early on. More than ten years ago, he had western-style vanilla production set up in Madagascar. Since then, there have been in-house productions or direct cooperation with producers for many key raw materials. “We were initially laughed at for extending our supply chain,” says Bertram. “But if others no longer have any raw materials, we can still supply our customers.” Symrise benefits from this, especially in times of fragile supply chains.
The successful acquisitions of Symrise
In addition, Bertram has successfully strengthened its business with acquisitions. Industry observers certify that he has a “very good hand” when it comes to acquisitions. At 1.3 billion euros, the most important and daring acquisition in 2014 was that of Diana, a leading manufacturer of flavors primarily for the pet food industry. It was not foreseeable at the time that this business is growing by ten percent every year – also because pet owners are often willing to spend large sums of money for their four-legged friends. “We suspected that, but there was also a little bit of luck involved,” says Bertram – and is as reserved as usual.
So it wasn’t superficial for him that Symrise was promoted to the Dax. That is “nice, but not essential”. But Bertram obviously doesn’t have enough. “The business will continue to develop stably,” he predicts. By 2025, he wants to increase sales by a fifth to between 5.5 and 6 billion euros. Industry experts consider these goals to be realistic.
The Symrise boss sees potential in the business with vegan meat alternatives, which are in particularly high demand from younger consumers. Proteins from peas or soy, for example, are required for production, which Symrise adjusts in terms of taste. Bertram and his group are increasingly penetrating high-margin business areas outside of the traditional fragrance sector.
So big plans for the future, but he won’t implement them for so long. The supervisory board recently extended its contract until 2025. As for how long Bertram still wants to lead the group, he answers evasively: “It doesn’t have to be five years.” One thing is clear: the footsteps he leaves behind will be big.
More: Symrise increases sales and profit again – share grows by four percent