Brenntag Reports Positive Q2

Brenntag has reported sales up in Q2, increasing 3.4% and reaching €2,544.7 million. The Germany-based chemical distributor's gross profit also grew 4.6% year-over-year to €502 million. External sales in Europe increased by 1.2% to €1,184 million over 2012 numbers, despite an uncertain economic situation here. In North America, Brenntag attributes its growth there to the 2012 acquisition of the Altivia Cooperation; sales were up 6.5% at €817.2 million. The company also saw positive development in the Asia Pacific region following the acquisition of the ISM/Salkat Group; here, sales were up 9.6% to €186.9 million. Operating gross profit was up 21.4% at €31.1. The group's operating gross profit increased in Latin America by 4.6% to €43.4 million; however, external sales were down 2.2% at €221.4 million.   

For the rest of the year, the company said it is "anticipating less dynamic development." Taking the uncertain macroeconomic situation into consideration, Brenntag said it expects the groups operating EBITDA to fall between €710-735 million.  

"We do not see the promise of any significant improvement in the macroeconomic environment but we remain positive and confident about the underlying market opportunities and resilience of our business leading to further growth of the group overall," Brenntag CEO Steven Holland said.