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Brenntag reports a broad based increase in operating EBITDA for the second quarter of 2018
Essen (ots) - Brenntag (WKN A1DAHH), the global market leader in chemical distribution, continued to perform well in the second quarter of 2018: the Group increased its key performance indicators by a clear margin, with operating EBITDA growing at a double-digit rate again on a constant currency basis. The encouraging performance was underpinned primarily by organic growth. Against this background, Brenntag forecasts clear growth in its key performance indicators operating gross profit and operating EBITDA for financial year 2018 as a whole.
Brenntag generated sales of 3,215.0 million EUR in the second quarter of 2018, a year-on-year increase of 12.2% on a constant currency basis (+7.1% as reported). Operating gross profit rose by 8.4% on a constant currency basis (+3.1% as reported) to 677.0 million EUR. Operating EBITDA also showed clear growth at constant currency rates, rising by 10.7% (+4.8% as reported) to 231.3 million EUR. Profit after tax was up on the prior-year figure of 106.8 million EUR to 118.3 million EUR in the second quarter of 2018. This translates into earnings per share attributable to Brenntag shareholders of 0.76 EUR.
Steven Holland, CEO Brenntag AG, said, "We are pleased with the strong performance which is underpinned by broad based organic growth and positive contributions from the acquisitions leading to a double-digit increase in operating EBITDA. Together with the first quarter, this made for a solid first half of 2018 for us - with organic growth strongly outperforming prior year."
In light of the results and the performance in the regions in the first half of 2018, the Brenntag Group continues to expect clear growth in its key performance indicators operating gross profit and operating EBITDA. Assuming that exchange rates remain unchanged over the period to year-end, Group operating EBITDA is forecast to be in the 870 to 900 million EUR range.
Find all figures and details for Q2 2018 on Brenntag's website: https://www.brenntag.com