Brenntag 'holding its own' amid still-challenging market conditions

19 June 2013 17:19  [Source: ICIS news]

LONDON (ICIS)--Chemical distributor Brenntag sees itself as well-positioned to take on the still-challenging market conditions and record a higher gross profit in 2013, the Germany-headquartered company said on Wednesday.

Announcing a dividend proposal of €2.40 per share, Brenntag CEO Steve Holland said: “The robustness of our business model and our broad diversification strategy have once again enabled us to achieve strong results and to hold our own in the challenging global economic climate.”

Brenntag expected its gross profit and operating earnings before interest, tax, depreciation and amortisation (EBITDA), before possible one-off effects, to grow in the current year, following its successful 2012, the company said.

However, it added that owing to the uncertainty of the macroeconomic situation and assuming that the general economic situation will not recover, the company expected a slowdown in the growth of its profitability.

Brenntag this year intended to keep in place strict cost controls, the company said.

In 2012, gross profit improved 4.6% year on year to €1.9bn, while sales revenues rose 7.7% to €9.7bn, Brenntag added.

In the first quarter of 2013, gross profit edged up 1.3% year on year to €477.9m, with sales revenues rising 2.1% to €2.4bn, it said.

By: Will Conroy
+44 20 8652 3214

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