MUEHLHEIM (dpa-AFX) - Brenntag (BNTGF.PK), a German chemical maker and distributer, reported an operating EBITA of 297 million euros in the second quarter of 2024 down from 332 million euros in the previous year.
Brenntag now expects operating EBITA for the financial year 2024 to be in the range of 1.10 billion euros to 1.20 billion euros. It previously expected the full year 2024 operating EBITA to be at the lower end of the guided range of 1.23 billion euros to 1.43 billion euros.
The company noted that the market trends and chemical industry expectations observed in recent months, and particularly in July, indicate that markets will remain highly competitive, with sustained pressure on industrial chemical selling prices.
Therefore, Brenntag SE does not expect a positive gross profit per unit development in the second half of the year anymore but rather anticipates a more stable development on group level.
Additionally, the company also expects a slightly lower than initially anticipated sequential improvement in volumes in the second half of 2024.
The company noted that it will publish its half-year financial report on August 13, 2024.
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