In This Article:
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Revenue: EUR16.2 billion, a 3% decline from the previous year.
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Operating Gross Profit: EUR4.03 billion, stable year-over-year.
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Operating EBITA: EUR1.1 billion, a 13% decrease from the prior year.
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Free Cash Flow: EUR893 million, down from EUR1.7 billion in 2023.
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Earnings Per Share (EPS): EUR3.71, compared to EUR4.73 last year.
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Dividend Proposal: EUR2.10 per share, maintaining or increasing for the 14th consecutive year.
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Net Financial Liabilities: EUR2.8 billion.
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Leverage Ratio: Net debt to operating EBITDA at 1.9x.
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ROCE: 14%, down from 17.7% in 2023.
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Store Closures: 33 locations closed in 2024.
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Acquisitions: Eight acquisitions with an enterprise value of around EUR550 million.
Release Date: March 12, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Brenntag SE (BNTGF) maintained a stable operating gross profit of EUR4.03 billion despite a challenging market environment.
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The company generated a strong free cash flow of EUR893 million, demonstrating effective cash management.
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Brenntag SE (BNTGF) proposed a stable dividend of EUR2.10, marking the 14th consecutive year of maintaining or increasing dividend payouts.
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The company successfully executed eight acquisitions in 2024, enhancing its market position and growth potential.
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Brenntag SE (BNTGF) achieved significant sustainability milestones, including winning the ICIS Best Digital Innovation Award 2024 and receiving a Platinum rating in the EcoVadis Sustainability Assessment.
Negative Points
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Sales for the full year 2024 were EUR16.2 billion, a 3% decline compared to the previous year.
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Operating EBITA decreased by 13% year over year, reaching EUR1.1 billion, which was at the low end of the guidance.
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Earnings per share fell to EUR3.71 from EUR4.73 in the previous year, impacted by the sale of Raj Petro Specialties and other special items.
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The company faced intense competition and pressure on industrial chemical selling prices, affecting gross profit per unit.
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Operating expenses increased by 4.7% compared to the prior year, driven by inflationary effects and higher volume-related costs.
Q & A Highlights
Q: How should we think about the price and volume mix through 2025, and what are your thoughts on the phasing throughout the year? A: Christian Kohlpaintner, CEO: We expect a slight sequential improvement in volumes and pricing throughout 2025, similar to the trends seen in 2024. This improvement is expected to be consistent quarter-by-quarter rather than being concentrated in the second half of the year.