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Brenntag Q3 Net Income Up 1.9%; Sees Improvement in Europe Region
Posted: November 6, 2013
Brenntag’s third-quarter net income rose 1.9% €81 million from €79.5 million a year ago as sales rose 0.6% to €2.49 billion from €2.47 billion a year earlier.
“We are encouraged by the developments of our European segment which is starting to reflect the internal efficiency gains initiated in the previous year and we expect to see continued development for the region as a whole,” said Steven Holland, CEO of Brenntag AG.
The solid development in the Europe region continued in the third quarter. The segment recorded external sales of €1.142 billion, corresponding to year-on-year growth of 2.0% on a constant currency basis (0.2% as reported). Benntag North America generated external sales of €816.5 million in the period under review, an increase of 9.6% on a constant currency basis (3.0% as reported), in part due to acquisitions. In Latin America, and following the change in senior management and further organizational measures, the region is currently in a transitional phase and improvements will become visible in the near future. The Asia Pacific region saw mixed performance in the third quarter. This was due to different growth rates within the region as a whole.