Brenntag reports Double-digit Growth in Profitability for Q1-2015
Global chemical distributor Brenntag AG (Mülheim an der Ruhr, Germany) last week reported on the group’s financial results for Q1-2015. Sales from January to March were EUR 2’574 mn, an increase of 6.5% on the previous year (as reported). Gross profit was 15.2% higher (as reported) at EUR 557.3 mn. This reflects an increase of 4.3% on a constant currency basis. Operating EBITDA amounted to EUR 195 mn, an increase of 22.2% as reported (+9.7% on a constant currency basis).
The Profit after Tax (PAT) of EUR 91 mn in the first quarter of 2015 represents earnings per share for Brenntag’s shareholders of EUR 0.59, up from a figure of EUR 0.45 for the same quarter in the previous year. Free Cash Flow (FCF) was EUR 161 mn, more than twice the level of the first quarter of 2014 with EUR 71 mn, Brenntag said in the statement.
Steven Holland, CEO of Brenntag AG, is quoted saying: “Our company has made a strong start to [sic!] the 2015 financial year. In a macroeconomic environment characterized by moderate recovery, in the first quarter of 2015 we achieved growth in our key financial metrics. … All of our regions have contributed to this positive development.”
Source: Brenntag press release, for the full text see the following link: http://www.brenntag.com/en/pages/Presse/news/2015/Q1_2015.html
HGE – DCG / 17.05.2015
DistriConsult Comment: A few days before the release of the Q1-2015 figures, Brenntag had announced the relocation of its headquarters from Mülheim an der Ruhr to the neighbouring city of Essen. This move, which is planned for end of 2017, will be to a new building of ca. 20’700 square meters space in an area called Gruga Carree in Essen-Rüttenscheid. (NB: Corresponding press release only available in German).