Strong results for Brenntag

Brenntag reported “strong earnings” for the third quarter 2012 under more difficult market conditions. “Thanks to the resilience of the business model and the acquisitions executed, the group was able to increase the important key performance indicators gross profit and operating EBITDA in the year-over-year comparison,” a group statement read.

Brenntag enters Israel with acquisition

Sales increased in the third quarter to €2,474 million (Q3 2011: €2,218 million), 5.4 percent up based on constant exchange rates (11.5 percent as reported) compared with the same period in the previous year. Gross profit reached an increase of 4 percent based on constant currency exchange rates (10.7 percent as reported) to €493.2 million. Operating EBITDA in the third quarter increased to €167.8 million (0.7 percent as reported) whereas this amount was impacted by about €10 million of extraordinary expenses in the segment Europe. When adjusting for this non-recurring effect operating EBITDA exceeded Q3 2011 by 7.3 percent.

Steven Holland, CEO of Brenntag AG, commented: “We are very pleased with the development of our gross profit in the third quarter which was achieved under challenging market conditions around the world. The very positive development of our share price which topped the €100 mark for the first time confirms our strategy and motivates us further to implement it with all our energy.”