March 19 2014, David R Brown
Leading global distributor, Brenntag delivers sound results for 2013 in challenging markets
Global market leader in chemical distribution, Brenntag has reported strong profits for 2013 despite challenging macroeconomic conditions. For the 2013 financial year, sales increased to EUR 9,769.5 million, up 3.3% on the previous year on a constant currency basis (0.8% as reported). In the reporting period, gross profit amounted to EUR 1,945.5 million, an increase of 3.7% year-on-year on the same basis (1.0% as reported). The news was well received by the markets and Brenntag's share price rose by nearly 2% within hours of its results being filed.
2013 proved to be a dynamic business environment with a number of challenges in both developed and emerging markets
Steve Holland
CEO Brenntag Group
Steven Holland, CEO of Brenntag: “As expected, 2013 proved to be a dynamic business environment with a number of challenges in both developed and emerging markets throughout the world. We were once again able to demonstrate a high degree of resilience in such markets through our highly diversified business model and report strong results for the year. We continued to build on the Group's structural organic and acquisitive growth opportunities. The business has a clear objective of further expansion of our product and service offering with an accelerated conversion of strategic acquisition targets.”
There were significant regional variations. Sales in Europe increased marginally by 0.2% to €4,558.3M in 2013 against a backdrop of falling industrial production as Europe emerges from recession. Business performance in North America was more positive with recent acquisitions contributing to this improvement. Sales increased by 2.6% from €3,065.2M to €3,143.6M. The Group also maintained its positive upward momentum in Asia-Pacific with sales up 4.1% from €708.6M to €738.0. However, Latin America performed below expectations with sales falling by 7.6% from €919.0M in 2012 to €849.2M in 2013. Brenntag has implemented measures to reverse this trend on a long-term basis.
About Brenntag
Headquartered in Mülheim an der Ruhr, Germany, Brenntag is the market leader in chemical distribution and operates a global network of over 480 locations in more than 70 countries. In 2013, the company, which has a global workforce of more than 13,000, generated sales of EUR 9.8 billion (USD 13.0 billion). With over 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop solutions to around 170,000 customers. This includes specific application technology, extensive technical support and value-added services such as just-in-time delivery, product mixing, formulation, repackaging, inventory management and drum return handling.
Source(s): Brenntag Press Release
Further Information
Visit: http://www.brenntag.com