Brenntag reports strong Q2 despite difficult economic condit

Chemical distribution company Brenntag has reported a successful Q2 2012. The company said that despite the more difficult macroeconomic conditions it managed to increase year on year EBITDA thanks to a successful growth strategy and acquisitions closed in 2011.

Q2 2012 sales increased to nearly €2.5bn from €2.2bn in Q2 2011, an increase of 9.6% based on constant exchange rates. Meanwhile EBITDA was €184.4m, a growth of 3.8% based on constant currency exchange rates.

“Brenntag operates successfully even in the current challenging economic conditions,” said ceo Steven Holland of the results. “A balance of organic growth, including efficiency gains and acquisitions has placed our highly diversified group in a strong position to weather the current worldwide economic challenges, which for some reason became more pronounced in the course of 2012.”

Regionally, sales in Europe, North America and Latin America sales were robust, while growth in Asia Pacific decelerated slightly.

Combined with the first quarter results, Brenntag’s sales increased 10.0% in H1 2012 to €4.9bn. On the back of this, EBITDA rose 5.0% to €355.9m. Assuming no fluctuations in the average dollar exchange rate and a stable macroeconomic situation, Brenntag expects operating EBITDA of €705m to €735m