Continued positive Earnings Trend and good Prospects for the Rest of the Year are encouraging to German Distribution Group
Global chemical distributor Brenntag SE (Essen, Germany) last week decided to raise the forecast for operating EBITDA for the 2021 financial year previously published on 10. March 2021. Against a backdrop of strong results Q1-2021 and “the continuation of the postive earnings trend into the second quarter to date, as well as considering the prospects for the rest of the year, Brenntag said it expects an Operating EBITDA in the range of EUR 1’160 mn to EUR 1’260
mn for the financial year 2021 (previously: EUR 1’080 mn to EUR 1’180 mn).
Taking into account organic growth, the expected efficiency gains from the implementation of the transformation program “Project Brenntag” and the contribution to earnings from acquisitions which have already been closed, the new forecast is also based on the assumption that exchange rates will remain stable on the level of the announcement date. The forecast does not envisage any special items and comes with the usual caveat that it is “dependent on any further impact of the COVID-19 pandemic on both the macroeconomic environment and the Group not deviating significantly from the currently known extent.”
Source: Brenntag press release
HGE – DCG / 21.06.2021