Brenntag, the global market leader in chemicals and ingredients distribution, reports very strong results in the first quarter 2021 by prudently navigating through fast changing market conditions. The two global divisions Brenntag Essentials and Brenntag Specialties, had a successful start and both contributed strong results.

Christian Kohlpaintner, Chief Executive Officer of Brenntag SE, said: “We are very satisfied with our results. In the first quarter of 2021, our industry had to deal with significant supply chain challenges, but Brenntag, thanks to our people, navigated through them well. Product availability, prompt and reliable delivery were key for our success in the first quarter and were highly valued by our customers. Both our two global divisions, Brenntag Essentials and Brenntag Specialties, contributed to this positive development with strong results.”

In the first quarter 2021, Brenntag generated sales of 3,132.5 million EUR. Operating gross profit rose by 7.4% to 764.5 million EUR compared to 750.7 million EUR in the previous year. Operating EBITDA grew even more and reached 300.3 million EUR, a year-on-year increase of 20.7%. Earnings per share totaled 0.63 EUR compared to 0.74 EUR a year ago. The reduction is driven by a non-recurring, extraordinary increase in provisions related to a tax audit concerning past handling of alcohol taxes.

Georg Müller, Chief Financial Officer of Brenntag SE, said: “Despite continued challenging macro-economic and operational conditions, we managed to show very strong results for all key figures. We continue to focus on servicing our business partners best as well as on our stringent cost management. Moreover, we very well managed setting up the new internal and external reporting of our two global divisions.”

As the COVID-19 pandemic continues, Brenntag’s actions regarding crisis management remain in place as it has proved effective. The company successfully limited the impacts of the pandemic on its business and protected the health and safety of its employees and business partners.

Against the background of this current environment and the results of the first quarter, Brenntag confirms its operating EBITDA guidance to be in the range of 1.08 to 1.18 bn EUR for the full year. The company expects both divisions to contribute to the growth of operating EBITDA.