German chemicals distributor Brenntag posted higher-than-expected third-quarter profit on Wednesday, saying it was able to balance European and global supply chains as rising energy costs affected the continent, said Reuters.
The group, whose services include storing large-scale quantities of chemicals and repackaging them into smaller quantities, said quarterly operating earnings before interests, taxes, depreciation and amortisation (EBITDA) rose 34% to 460 million euros (USD463 million), compared with analysts’ average estimate of 453 million euros in a company-provided poll.
The company continues to expect reaching the upper range of its 2022 guidance of 1.75 billion to 1.85 billion euros in operating EBITDA.
We remind, Brenntag has acquired the life sciences and coatings business from a fellow distributor in the Australia and New Zealand region. The acquisition from Ravenswood, a specialties distributor with an expertise in blending, is expected to close on 2 December.
mrchub.com