Brenntag reports a solid first quarter 2019

Essen (ots) - Brenntag (WKN A1DAHH), the global market leader in
chemical distribution, posted solid results in the first quarter of
2019. Its key performance indicators operating gross profit and
operating EBITDA showed an increase at Group level. The growth in
operating EBITDA is mainly attributable to the initial application of
the new financial reporting standard IFRS 16 on leases. On operating
level, a positive performance in the North America, Asia Pacific and
Latin America regions contrasted with a weaker performance in the
EMEA region that was due mainly to lower demand. In all the Group's
regions, the acquisitions made a positive contribution to earnings.

Sales in the Q1 2019 were up by 3.7% year on year on a constant
currency basis (+7.0% as reported) to 3,182.3 million EUR. Brenntag's
key performance indicator operating gross profit reached 688.2
million EUR, an increase of 4.4% on a constant currency basis (+7.9%
as reported). Operating EBITDA rose by 12.0% year on year at constant
currency rates (+15.6% as reported) to reach 238.8 million EUR. The
growth in operating EBITDA is mainly attributable to the initial
application of the new financial reporting standard IFRS 16. The
effect on Group operating EBITDA amounts to 27.4 million EUR in the
first quarter. Profit after tax was in line with the prior-year
figure of 106.0 million EUR at 105.2 million EUR in Q1 2019. This
translates into earnings per share attributable to Brenntag
shareholders of 0.68 EUR.

Steven Holland, CEO Brenntag AG, said, "A slowdown in global
economic momentum was already evident at the end of 2018 and, as
expected, this trend impacted on our results in the first quarter of
2019. In our EMEA region in particular, we recorded decrease in
demand, which are reflected in earnings. However, even amid these
conditions, Brenntag achieved stable results overall due to our
global diversification."

In light of the results and the performance from the regions in
the first quarter, the Brenntag Group is confirming its outlook for
financial year 2019 and expecting to see growth in its key
performance indicators operating gross profit and operating EBITDA,
particularly in the second half of 2019. This takes into account the
very difficult environment at present, especially in Europe, but does
not assume a further slowdown.

Find all figures and details for Q1 2019 on Brenntag's website:
https://www.brenntag.com

Contact:
Hubertus Spethmann
Brenntag AG
Corporate Communications
Messeallee 11
45131 Essen
Germany
Telephone: +49 (201) 6496-1732
E-Mail: hubertus.spethmann@brenntag.de
https://www.brenntag.com

Original-Content von: Brenntag AG, übermittelt durch news aktuell