07 November 2012 07:40 [Source: ICIS news]
SINGAPORE (ICIS)--Brenntag reported strong earnings in the third quarter with a 19.3% year-on-year increase in its net profit to €79.6m ($102m), backed by an 11.5% year-on-year rise in its sales, the German chemical distributor said on Wednesday.
Third-quarter sales were €2,474.1m compared with €2,218.0m in the same period a year earlier, the company added.
Its earnings before interest, tax, depreciation and amortisation (EBITDA) were up by 1.9% year on year to €167.7m in the third quarter of 2012.
“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,” said Steven Holland, CEO of Brenntag AG.
Brenntag currently does not expect a positive economic lift in demand over the remainder of the year. Considering the challenging macro-economic climate, it has narrowed the range for the expected operating EBITDA for 2012 to €705m-725m, the company said.
For the first nine months, sales increased by 12.8% year on year to €7,349.8m. The operating EBITDA grew by 6.4% to €523.7m.
($1 = €0.78)
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