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Brenntag FY19 Profit Up, Lifts Dividend; Sees Positive Operating EBITDA In FY20

Chemical and ingredients distributor Brenntag AG (BNTGF.PK) reported Wednesday that its fiscal 2019 profit attributable to shareholders increased to 466.7 million euros from last year's 460.9 million euros.

Earnings per share were 3.02 euros, up from 2.98 euros a year ago.

Profit before tax grew 1.6 percent from last year to 633.4 million euros. Operating EBITDA reached 1 billion euros, a year-on-year increase of 14.4 percent.

The earnings were benefited by the initial application of IFRS 16, despite difficult market environment in Europe, Middle East & Africa and North America.

Sales increased 2.2 percent to 12.82 billion euros from 12.55 billion euros last year. On a constant currency basis, sales edged down 0.3 percent.

Further, the Board of Management and the Supervisory Board will propose a dividend of 1.25 euros per share, up 4.2 percent, at the General Shareholders' Meeting on June 10.

Looking ahead for fiscal 2020, Brenntag currently expects a positive performance at operating EBITDA level.

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