Brenntag reports good results in second quarter of 2021
Brenntag reports good results for the second quarter of 2021. In addition to organic growth, the company plans to strengthen its focus industries through acquisitions.
In the second quarter of 2021, Brenntag generated sales of EUR 3,470.1 million. Gross profit increased by 21.1% to EUR 838.7 million, compared to EUR 720.6 million in the year-ago quarter. Operating EBITDA grew even faster, with a very strong increase of 34.3% year-on-year to EUR 355.1 million. Earnings per share amounted to EUR 0.87, compared to EUR 0.80 in the previous year.
Both business units contributed to the Group result
The Brenntag Essentials division, which supplies diverse industries with a wide range of process chemicals, generated gross profit of EUR 523.1 million (+16.3%) and reported very strong operating EBITDA of EUR 230.1 million, 29.1% above the prior-year period. Brenntag Essentials North America in particular contributed significantly to the growth of the business unit. The Brenntag Specialties division generated gross profit of EUR 308.9 million (+30.1%) and operating EBITDA of EUR 144.5 million (+48.7%) in the second quarter of 2021.
In addition, the company further strengthened its position through significant acquisitions. In the second quarter, Brenntag signed an agreement to purchase JM Swank in North America, which was completed in early August and is expected to be a key step in strengthening Brenntag’s specialties portfolio in the region. This acquisition creates the largest distributor of food ingredients and food process chemicals in North America with sales of approximately USD 1 billion.
