The Brenntag Group generated sales of € 8,178.9 million in the first half of 2024, a year-on-year decline of 6.9%. On a constant currency basis, sales fell by 6.6%. The decline is the result of falling sales prices and was not offset by higher volumes.

The Group’s operating gross profit came to € 2,012.3 million in the first half of 2024, a year-on-year decline of 2.6% (on a constant currency basis: 2.3%). Despite a slight increase in volumes, the Brenntag Specialties division recorded a moderate decline in operating gross profit due to falling operating gross profit per unit. The picture was similar for the Brenntag Essentials division. Although the division achieved a strong increase in volumes, operating gross profit decreased slightly due to a strong decline in operating gross profit per unit compared with a strong reference period in this respect.

The Brenntag Group achieved operating EBITDA of € 727.6 million in the first half of 2024, a year-on-year decline of 12.3%, or 11.9% on a constant currency basis. Depreciation of property, plant and equipment and right-ofuse assets amounted to € 170.8 million in the first half of 2024 (H1 2023: € 152.8 million). The acquisitions were a major driver of this growth. In addition, investments in logistics operations in the North America and EMEA regions resulted in an organic rise.

The Brenntag Group’s operating EBITA came to € 556.8 million in the first half of 2024. Brenntag therefore recorded a decrease of 17.8% on the prior-year figure. On a constant currency basis, this represents a decline in earnings of 17.3%.

The overall decline in both divisions was driven by the fall in operating gross profit per unit in combination with cost increases and the volume effects.

Expenses for strategy projects amounted to € 22.5 million in the first half of 2024. They mainly include advisory and severance expenses which relate to the planning for the legal and operational separation of the two divisions, Brenntag Specialties and Brenntag Essentials, and which will help to achieve the cost reduction targets.

In the first half of 2024, further expensess of € 19.7 million were recognized for legal risks arising from the sale of talc and similar products in North America due to a dynamic rise in the number of actions brought.

Profit after tax stood at € 295.0 million in the first half of 2024 (H1 2023: € 406.2 million).