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Brenntag Q1 Earnings Flat, But Sales Up

Chemical distributor Brenntag AG (BNTGF.PK) Thursday reported a profit for the first quarter that was in line with last year, with sales growth of 7.0 percent year over year.

For the first quarter, profit attributable to shareholders was about 105 million euros or 0.68 euros per share, both on the same level as last year.

Operating gross profit, a key performance indicator, grew 7.9 percent on reported basis to reach 688.2 million euros, and operating EBITDA rose 15.6 percent to 238.8 million euros, mainly attributable to the initial application of the new financial reporting standard IFRS 16.

The Group's sales in the first quarter grew 7.0 percent, on reported basis, to 3.182 billion euros, while it grew 3.7 percent on a constant currency basis.

Following the results and its performances across the regions in the first quarter, Brenntag confirmed its outlook for financial year 2019, and said it expects to see growth in operating gross profit and operating EBITDA, especially in the second half of 2019.

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