ESSEN, Germany, May 11, 2021 /PRNewswire/ -- Brenntag (ISIN
DE000A1DAHH0), the global market leader in chemicals and
ingredients distribution, reports very strong results in the first
quarter 2021 by prudently navigating through fast changing market
conditions. The two global divisions Brenntag Essentials and
Brenntag Specialties, had a successful start and both contributed
strong results.
In Q1 2021, Brenntag generated sales of 3,132.5 million EUR. Operating gross profit rose
by 7.4% to 764.5 million EUR.
Operating EBITDA grew even more and reached 300.3 million EUR, a year-on-year increase of
20.7%. Earnings per share totaled 0.63
EUR compared to 0.74 EUR a
year ago. The reduction is driven by a non-recurring, extraordinary
increase in provisions related to a tax audit concerning past
handling of alcohol taxes.
Since go-live on January 1, 2021,
the company is steered in the new organizational set-up with two
global divisions: Brenntag Essentials and Brenntag Specialties.
The Brenntag Essentials division which markets a
broad portfolio of process chemicals across a wide range of
industries contributed to the Group performance with outstanding
results in the first quarter 2021. The division reached an
operating gross profit of 472.5 million
EUR (+7.1%) and reports a very strong operating EBITDA of
194.1 million EUR, 29.2% above
prior-year period.
The Brenntag Specialties division builds on the
company's position as the largest specialty chemicals distributor
worldwide, focusing on six selected customer industries: Nutrition,
Pharma, Personal Care / HI&I (Home, Industrial &
Institutional), Material Science (Coatings & Constructions,
Polymers, Rubber), Water Treatment and Lubricants. With an
operating gross profit of 284.3 million
EUR (+7.1%) and reported operating EBITDA of 119.8 million EUR (+9.2%), the division showed
very positive results in the first quarter 2021.
Since go-live of its new operating model with the global
divisions of Brenntag Essentials and Brenntag Specialties on
January 1, 2021, the company has made
good progress with the implementation of Project Brenntag. The
comprehensive transformation program has the objective to expand
Brenntag's position as global market leader and position the
company for sustainable organic earnings growth. The first quarter
consisted of the substantial work on the step-by-step
implementation of the program's initiatives.
Against the background of the current environment and the
results of the first quarter, Brenntag confirms its operating
EBITDA guidance to be in the range of 1.08 to 1.18 bn EUR for the full year. The company
expects both divisions to contribute to the growth of operating
EBITDA.
Find all figures and details for the Q1 2021 results on
Brenntag's website: www.brenntag.com/corporate/en/media/
Press contact:
Verena
Blaschke
Brenntag SE
Global Communications
Telephone: +49 (201) 6496-1213
E-Mail: global.communications@brenntag.de
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SOURCE Brenntag SE