Germany’s Brenntag posts €38.7m Q2 net profit

12 August 2010 07:38  [Source: ICIS news]

SINGAPORE (ICIS)--German chemical distributor Brenntag said on Thursday it more than doubled its second-quarter net profit to €38.7m ($49.6m) from €16.3m in the previous corresponding period, led by its business in the Asia-Pacific region.

Sales for the three-month period to June jumped 23.4% to €1.95bn, with operating earnings before interests, taxes, depreciation and amortisation (EBITDA) rising 15.4% to €152.8m, it said.

“All regional contributed to the significant development with exceptional growth continuing in the Asia Pacific region,” Brenntag said in a statement.

The company generated €5.6m in operating gross profit from Asia-Pacific, 60% more compared to the same period last year, it said.

“Furthermore, the north American region resumed its healthy growth as business significantly increased compared to the previous quarter,” it added.

For the first six months of the year, Brenntag posted a 13% increase in operating EBITDA at €287.3m on sales of €3.69bn, up 15.1% year on year.

The company said it expects an operating EBITDA in the range of €570m-600m for the whole of 2010.

($1 = €0.78)

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