Brenntag achieves stable results in a still-difficult market environment

Essen (ots) - Brenntag (WKN A1DAHH), the global market leader in chemical and
ingredients distribution, achieved stable results in the third quarter of 2019
that were once again impacted by the difficult macroeconomic conditions.
Particularly in the two large Brenntag regions EMEA and North America, the
economic environment continued to turn down. Asia Pacific delivered good
quarterly results again. Overall, the Group generated operating EBITDA on a par
with the previous year despite the difficult environment. The reported increase
in operating EBITDA is mainly attributable to the initial application of IFRS
16, the new financial reporting standard on leases.

Brenntag generated sales of 3,254.3 million EUR in the third quarter of 2019, a
year-on-year decrease of 1.4% on a constant currency basis (+1.0% as reported).
Brenntag's key performance indicator operating gross profit rose to 722.2
million EUR, an increase of 3.9% on a constant currency basis (+6.5% as
reported). Operating EBITDA was up by 13.9% on the prior-year quarter at
constant currency rates (+17.0% as reported) to 262.8 million EUR. The growth in
operating EBITDA is mainly attributable to the initial application of the new
financial reporting standard IFRS 16. The effect of this IFRS on Group operating
EBITDA amounts to 30.4 million EUR in the third quarter. Profit after tax was up
on the prior-year figure of 110.5 million EUR to 128.4 million EUR in the third
quarter of 2019. This translates into earnings per share attributable to
Brenntag shareholders of 0.83 EUR.

In July 2019, Brenntag provided guidance for the growth of the Group's operating
EBITDA in 2019 to be between 0% and 4%. The company has specified this and
expects growth of operating EBITDA around the lower end of that range. This is
to be understood on a constant currency basis, based on unchanged financial
reporting standards and including acquisitions.

Steven Holland, CEO of Brenntag AG, said, "Since the beginning of the year, the
market environment has continued to turn down. This negative trend affected us
again in the third quarter, impacting adversely on our operating activities,
particularly in the two large regions EMEA and North America. Despite this
environment, we were able to achieve stable results at Group level thanks to our
highly diversified product range and industries served by our global network."

Find all figures and details for Q3 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