Operating EBITDA up 13.4% in first half 2011
Chemical distributor Brenntag increased sales by 11.2% to €2,173.4m and gross profits by 5.9% to €443.8m in the second quarter of 2011. Operating EBITDA grew 9.6% to €167.7m and net profit was €67.6m compared with €38.7m in Q2 2010. For the first half, operating EBITDA rose 13.4% to €325.8m.
“A robust performance with strong results for the second quarter highlights the growth and resilient nature of our company and business model,” comments Steven Holland, Brenntag’s new ceo. “We made further progress in our journey of continuous improvement with increased internal efficiency and an expansion in our products and services.”
The company has reported growth in Europe, North America, Latin America and Asia Pacific for the first half.
Acquisitions this year include a purchase agreement for Zhong Yung (International) Chemical Ltd, “which provides us with a significant platform within an increasingly sophisticated Chinese market,” says Holland. “There we expect to see long-term sustainable growth for Brenntag based on the requirements for further value added services.”