Brenntag achieves solid financial results

Brenntag has presented solid financial results and a record free cash flow for the financial year 2023.

In a challenging market environment, both divisions, Brenntag Specialties and Brenntag Essentials, delivered results below the record year 2022, but in line with expectation.

The divisional results were affected by low demand and inflationary impact on costs. Throughout the year, a slight sequential improvement in volumes was seen and during the fourth quarter of 2023, Brenntag returned to its growth path.

Christian Kohlpaintner, chief executive officer of Brenntag, said: “2023 was again dominated by a multitude of macroeconomic challenges and geopolitical tensions. Those weighed on the overall economic development and affected business activities across various sectors and markets, and especially the chemical industry.

“Despite this environment, Brenntag has realised the second-best performance in our company’s history. This is due to the inherent strength and resilience of our business model with its global reach and broad portfolio of products and services.

“In addition, we can count on our outstanding employees across the world. I would like to thank them for their tireless efforts to provide our customers with the best possible service and to be a reliable partner, especially in difficult times. I am also pleased by the consistent implementation of our strategy in 2023, thereby laying the foundation for accelerated growth in the future.”