Brenntag SE adjusts guidance for the financial year 2024

EQS-Ad-hoc: Brenntag SE / Key word(s): Forecast/Change in Forecast Brenntag SE adjusts guidance for the financial year 2024 12-Aug-2024 / 21:39 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Brenntag SE adjusts guidance for the financial year 2024

Brenntag SE previously expected the full year 2024 operating EBITA to be at the lower end of the guided range of EUR 1.23 to 1.43 billion. Brenntag SE now expects operating EBITA for the financial year 2024 to be in the range of EUR 1.10 billion to EUR 1.20 billion.

The initial guidance was based on the assumption of continued volume improvements in combination with slightly better Gross Profit per unit development in the second half of 2024, compared to the first half of 2024.

Despite the challenging market environment, the company was able to keep its Gross Profit per unit stable in the second quarter compared to the first quarter of 2024 due to various margin initiatives and achieved sequential volume growth.

However, the market trends and chemical industry expectations observed in recent months, and particularly in July, indicate that markets will remain highly competitive, with sustained pressure on industrial chemical selling prices. Therefore, Brenntag SE does not expect a positive Gross Profit per unit development in the second half of the year anymore but rather anticipates a more stable development on group level. Additionally, the company also expects a slightly lower than initially anticipated sequential improvement in volumes in the second half of 2024.

Brenntag SE has achieved an operating EBITA of EUR 297 million in the second quarter of 2024 (previous year: EUR 332 million). Considering the operating EBITA achieved in the first quarter of 2024 in the amount of EUR 260 million, the half-year result of Brenntag SE is approx. EUR 557 million (previous year: EUR 677 million).

The half-year financial report of Brenntag SE for the first half of 2024 will be published on August 13, 2024.

Essen, August 12, 2024