ESSEN (dpa-AFX) - Chemicals distributor Brenntag felt the impact of the Middle East conflict and the closure of the Strait of Hormuz in the first quarter. Both revenue and earnings declined year-on-year. 'Although the year began with an expected slow start, I am satisfied with our performance, especially compared to the strong first quarter of 2025,' CEO Jens Birgersson said in a statement on Wednesday. 'Our new, flatter structure has passed the acid test.' He confirmed the profit target for 2026.
In the first quarter, revenue shrank by a good ten percent year-on-year to 3.66 billion euros. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 13.8 percent to 306 million euros. For the full year, the Essen-based company continues to target an operating profit of 1.15 to 1.35 billion euros. Consolidated net profit attributable to Brenntag SE shareholders fell to 98 million euros in the three months to the end of March, down from 135 million euros the previous year. While the company performed slightly better than analysts expected in terms of revenue and operating profit, it met expectations for net income./mne/stk
