Brenntag reports solid earnings despite headwinds in Europe

摘要

Brenntag, the market leader in chemical distribution, has reported frst-quarter net proft of €105.2 million ($117.8 million), down slightly from €106.0 million in the corresponding period of last year, on sales up 7.0% to €3.2 billion. Operating EBITDA surged 15.6% year on year (YOY) to €238.8 million, and operating gross proft rose 7.9% YOY to €688.2 million. The growth in operating EBITDA is mainly attributable to the initial application of the new fnancial reporting standard IFRS 16.