Business Performance in Q1-2020 not significantly impacted by the Pandemic
Global chemical distributor Brenntag AG (Essen, Germany) has taken the decision to suspend the forecast for financial year 2020 published in the 2019 annual report due to “the considerable uncertainty about the future effects of the COVID-19 pandemic on global economic performance.”
According to the announcement, “Brenntag’s business performance in the first quarter was not significantly impacted by the pandemic. With a few exceptions, the Brenntag sites are currently fully operational. At the present time, however, it is not possible to give a reliable estimate of Brenntag’s business performance over the further course of the year due to the current spread of the pandemic in Europe and North America in particular and the containment measures decided by governments. Since the report on expected developments was prepared at the beginning of March 2020, the uncertainty around the expected effects has increased considerably.
The forecast will be updated as soon as it appears that the pandemic has been contained and the effects on Brenntag’s further business performance in 2020 can be reliably determined.”
Brenntag stressed that the company “has taken extensive measures to protect employees and business processes. The Group has a robust, diversified business model, a high level of liquidity and access to extensive, contractually agreed credit facilities.”
Source: Brenntag press release
HGE – DCG / 07.04.2020