• Q1 2025 financial results in line with the prior year quarter: In a persistently challenging business environment, characterized by a volatile geopolitical climate and a high degree of economic uncertainty, Brenntag achieved an operating gross profit* growth to EUR 1,019.5 million (+2.1%**). Operating EBITA*** of EUR 264.3 million was stable compared to the prior year quarter (+0.3%), due to both the positive performance at the operating gross profit level and cost reduction measures.

• Divisional performance development characterized by diverse internal and external effects: Despite a decline in volumes, Brenntag Specialties recorded an operating gross profit of EUR 295.0 million, which was stable compared to the previous year’s quarter (+0.1%). Operating gross profit of Brenntag Essentials increased by 3.0% and reached EUR 724.5 million. Both divisions saw positive effects from executing strategic, commercial, and operational measures.

• Positive contribution from cost containment program: Brenntag reports positive contributions from its comprehensive cost-out measures, supporting the company’s underlying cost development in the first quarter of  2025.

• Guidance 2025 maintained and currently expected to be in the lower range: Brenntag maintains its operating EBITA guidance for the full year 2025 in the range of EUR 1.1 billion to EUR 1.3 billion. Considering the substantial unfavorable changes in EUR/USD FX rates, the increased economic uncertainty, and the continuation of geopolitical conflicts, the company currently expects earnings for 2025 to be in the lower range of the guidance.

Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, published its financial results for the first quarter of 2025. The overall performance was characterized by a persistently challenging business environment, a volatile geopolitical climate, and a high degree of economic uncertainty amplified by global tariff discussions. In this environment, Brenntag increased its operating gross profit and achieved a stable operating EBITA. Considering the various impacts and developments, Brenntag maintains its full year 2025 earnings guidance and currently expects it to be in the lower range of the guidance.

Christian Kohlpaintner, Chief Executive Officer of Brenntag SE: “Brenntag experienced another quarter characterized by a challenging business environment with ongoing geopolitical and even increased economic uncertainties and volatility, amplified by global tariff negotiations. The anticipation of significant tariff changes already dampened business sentiment in the second half of March. Although our results in the first quarter of 2025 are in line with the prior-year period and we report operating gross profit growth, the sequential performance in comparison to the fourth quarter of 2024 did not fully meet our initial expectations. 

However, thanks to the outstanding work and strong focus of our teams, we also recognized some positive developments that make us confident about our divisional strategies and the associated measures creating the desired impact. With our resilient business model and our high degree of diversification across end markets, products, customers, and suppliers, Brenntag is well positioned to successfully navigate these highly dynamic and challenging times.”

Financial performance

In the first quarter of 2025, Brenntag achieved sales of 4,071.9 million EUR, which is stable compared to the previous year’s quarter (+0.4%). Brenntag was able to manage gross profit margins to its advantage despite ongoing pressure from industrial chemical selling prices, so that on a sequential basis, gross profit per unit growth momentum was sustained.

Thus, operating gross profit reached 1,019.5 million EUR and surpassed Q1 2024 by 2.1 percent. Brenntag’s operating EBITA amounted to 264.3 million EUR and was on level with Q1 2024 (+0.3%). Earnings per share reached 0.93 EUR versus 0.97 EUR in Q1 2024. Brenntag’s free cash flow amounted to 163.3 million EUR in the first quarter of 2025, a decrease of 6.8% compared to the strong free cash flow in Q1 2024 (175.3 million EUR). 

Cost containment program continued successfully

Brenntag’s comprehensive cost containment program, which includes various measures across different areas and levels, has been in full execution since the beginning of 2024 and continues to contribute positively to the underlying cost development since then. 

In 2025, Brenntag aims to roughly double the savings from 2024.

Thomas Reisten, Chief Financial Officer of Brenntag SE: “We continued to put high focus on the implementation of our cost containment program and realized cost savings of 30 million EUR in the first quarter of 2025.

Considering the challenging business environment and following a deeper analysis of potential measures, we will be accelerating our cost-out initiative – both in scope and speed. We thus remain firmly on track to achieving our goal of a 300 million EUR annual cost-out effect by 2027 compared to the base year 2023.”

Divisional performance development is characterized by diverse internal and external effects

Both Brenntag divisions are fully focused on running their business and implementing their divisional strategies as well as on prudently managing their cost base and executing cost containment measures as part of the Group’s cost-out program.

Despite a decline in volumes, Brenntag Specialties reported a stable operating gross profit of 295.0 million EUR (+0.1%) compared to the first quarter of 2024. This is attributable to a meaningful improvement in operating gross profit per unit, which was achieved through the product portfolio optimization and price and margin management. 

Operating EBITA amounted to 110.9 million EUR, a decline of 1.2 percent compared to Q1 2024. In the Life Science segment, the business unit Nutrition showed a stable gross profit performance compared to the prior-year period, whereas performance in Pharma was slightly lower than in the previous year’s quarter. The Beauty & Care business unit once again reported the strongest performance within Life Science, showing clear growth. The performance of the Material Science segment was slightly above the prior year period, mainly due to acquisitions.

Brenntag Essentials reported an operating gross profit of 724.5 million EUR in the first quarter of 2025, which is above the Q1 2024 result by three percent despite the challenging and competitive market environment. All regions except North America contributed to this development. A positive volume development was recorded in EMEA, Latin America, and APAC, whereas North America was challenging. The APAC and Latin America regions achieved double-digit volume growth year-over-year. Operating EBITA of the division reached 178.5 million EUR, a decline of 3.7 percent compared to the previous year’s quarter. 

Outlook & guidance 2025

The macroeconomic environment remains highly challenging with an increased level of economic uncertainty. Brenntag is closely monitoring the development regarding tariffs at the international level and has various scenarios and mitigation measures prepared. Due to the high volatility of the developments, it is currently difficult to predict with certainty the impact on Brenntag, its industry, and the markets it serves.

In light of this environment, Brenntag maintains its operating EBITA guidance for the full year 2025 in the range of 1.1 billion EUR to 1.3 billion EUR. Although potential secondary and tertiary tariff effects are hard to predict, Brenntag needs to reflect the dampened business sentiment, which already impacted the company’s performance towards the end of the first quarter. Considering the substantial unfavorable changes in EUR/USD FX rates, the increased level of economic uncertainty, the unresolved tariff discussions, as well as the continuation of geopolitical conflicts, earnings for 2025 are currently expected to be in the lower range of the guidance.

About Brenntag

Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 18,100 employees worldwide and operates a network of around 600 sites in more than 70 countries. In 2024, Brenntag generated sales of 16.2 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a diversified and broad portfolio of industrial and specialty chemicals and ingredients as well as tailor-made application, marketing, and supply chain solutions, technical and formulation support, comprehensive regulatory know-how, and digital solutions for a wide range of industries. Brenntag pursues an ambitious sustainability agenda and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been listed at the Frankfurt Stock Exchange since 2010, in the DAX since September 2021. In addition, the Brenntag SE shares are listed in the DAX 30 ESG and DAX ESG Target. For more information, visit www.brenntag.com.