Brenntag Q1 Report 2024
In April 2024, Brenntag successfully placed two bonds totaling one billion euros on the European capital market. Brenntag Finance B.V. issued the two EUR 500 million bonds with a maturity of four and eight years and carrying a coupon of 3.750% and 3.875%. The bonds were issued at 99.781% and 99.192% of par, respectively.
At the beginning of May 2024, Brenntag signed an agreement to acquire 100% of the shares in Quimica Delta SA de CV based in Teoloyucan, Mexico. The company is a leading distributor of base chemicals and has a dense service network in central Mexico with access to port infrastructure in Mexico.
Highlights
- Brenntag expects operating EBITA to be at the lower end of the full-year 2024 guidance published in March
- Operating gross profit reached EUR 984.4 mil- lion in Q1 2024, a decrease of 5.1%* compared with the prior-year figure
- Operating EBITA came to EUR 259.7 million, a decline of 24.0%* compared with Q1 2023
- The free cash flow of EUR 175.3 million in Q1 2024 was down by 61.0% on the high prior-year figure
- EPS stood at EUR 0.97 in Q1 2024 compared with EUR 1.40 in Q1 2023