Brenntag Se · XETR:BNR
Brenntag — Investor Presentation (March 2022)
77 slides from Brenntag's investor presentation, March 2022
Slide 1: Company Presentation
COMPANY PRESENTATION I N V E S T O R R E L AT I O N S MARCH 2022
Slide 2: Company Presentation agenda
Company Presentation Introduction to Brenntag Key investment highlights Project Brenntag Financials FY 2021 Outlook Appendix to navigate Brenntag SE – Company Presentation | March 2022 2
Slide 3: Brenntag is the global market leader in chemicals and ingredients distribution
Brenntag is the global market leader in chemicals and ingredients distribution Global market leader in chemicals and Full-line product portfolio with ingredients distribution with ~5% market share more than 10,000 products Network of around 700 locations More than 17,200 employees thereof 1/3 in 78
Slide 4: Two global divisions: Brenntag Essentials and Brenntag Specialties
Two global divisions: Brenntag Essentials and Brenntag Specialties Brenntag Essentials Brenntag Specialties EUR 7.8 bn EUR 6.0 bn Sales (2021) Sales (2021) EUR 2.1 bn EUR 1.3 bn Operating Gross Profit (2021) Operating Gross Profit (2021) EUR 0.84 bn EUR 0.57 bn Operating EBITDA (2021) Operating EBIT
Slide 5: Brenntag Specialties: Most stringent product allocation in chemical distribution
Brenntag Specialties: Most stringent product allocation in chemical distribution Specialties & ingredients Operating GP per focus industry in % (2021) Definition 10% Others 48% Life Sciences Products are directly used in the 6% production of customers' end- Water product treatment 30% Nutrition 15%
Slide 6: Sound financial profile: Growth track record and resilience through the downturn
Sound financial profile: Growth track record and resilience through the downturn Sales CAGR Operating Gross Profit CAGR (EUR M) 14,383 (EUR M) 3,379 +6.8% 12,550 12,822 11,743 11,795 +7.7% 2,822 2,869 2,554 2,661 9,690 9,770 10,016 10,346 10,498 2,322 2,429 8,679 1,968 1,992 2,078 6,671 7,380 7,649
Slide 7: Predictable Business model: Distributors perform a value-added function
Predictable Business model: Distributors perform a value-added function with economies of scale Filling Mixing Extensive Vendor- Bundling Purchase Transport Storage Packaging Blending Technical Managed Transport Labelling Formulating Support Inventory Chemical Chemical Producer User PURCHASE, TRANSP
Slide 8: Business model: Brenntag fulfills a value-adding function in the supply chain
Business model: Brenntag fulfills a value-adding function in the supply chain Chemical producers Full-range provider Chemical users One-stop shop Value add on a global basis ▪ Access to thousands of local ▪ Extensive technical and application know-how ▪ Just-in-time delivery of more than chemical us
Slide 9: Distributor vs. producer
Distributor vs. producer: Chemical distribution differs substantially from chemical production “What we are” “What we are not” Chemical Producer Business model B2B Services / Solutions Manufacturing Product portfolio Full-line Narrow Customer base Broad in diverse end-markets Narrow Customer order s
Slide 10: Board of Management: Highly experienced management team
Board of Management: Highly experienced management team Dr. Kristin Neumann Ewout van Jarwaarde Chief Financial Officer Chief Transformation Officer (as of April 1, 2022) Corp. Controlling “Project Brenntag” Accounting Brenntag Group Digital transformation Brenntag Group Legal Brenntag Group Data &
Slide 11: Company Presentation agenda
Company Presentation Introduction to Brenntag Key investment highlights Project Brenntag Financials FY 2021 Outlook Appendix to navigate Brenntag SE – Company Presentation | March 2022 11
Slide 12: Investment Highlights
Investment Highlights Global market leader Significant growth potential Sound financial profile in an attractive industry Excellence in execution Strong M&A track record Highly experienced Superior business model management team with resilience Brenntag SE – Company Presentation | March 2022 12
Slide 13: Market growth: Third party chemical distribution outgrew total chemical demand
Market growth: Third party chemical distribution outgrew total chemical demand Growth driver Brenntag global initiative Chemical distribution ▪ Growth in chemical demand ▪ Diverse business mix industry growth ▪ Outsourcing ▪ Turned-over business ▪ Value-added services ▪ Mixing and blending Scale dis
Slide 14: Growth drivers: Multiple levers of organic growth and acquisition potential
Growth drivers: Multiple levers of organic growth and acquisition potential Third party chemical distribution opportunity Global distribution market growth (CAGR 2020-2025e) Total chemical demand EUR trillion ~EUR 3.7 ~EUR 3.3 non-distribution relevant products ~3-4% ~4-5% Distribution relevant dema
Slide 15: Global market leader: Third party chemical distribution market size and shares
Global market leader: Third party chemical distribution estimated market size and market shares GLOBAL EMEA NORTH AMERICA LATIN AMERICA ASIA PACIFIC ~EUR 271bn ~EUR 74bn ~EUR 50bn ~EUR 20bn ~EUR 128bn 4.7 7.1 Univar 13.6 5.1 Sinochem 1.9 Univar 2.9 Univar 2.4 9.5 Manuchar 3.6 1.2 GTM DKSH IMCD 1.8 I
Slide 16: High diversification: Diversity provides resilience and growth potential
High diversification: Diversity provides resilience and growth potential BRENNTAG ESSENTIALS BRENNTAG SPECIALTIES SUPPLIERS PRODUCTS CUSTOMERS several thousand >10,000 ~180,000 Top 10 Top 10 Top 10 accounts <30%*** <20%* ~7%** 5% 18% 36% 39% 48% 46% 7% Operating GP by regions (EUR m, 2021) Operating
Slide 17: Significant potential for consolidation and external growth
Significant potential for consolidation and external growth Brenntag’s M&A approach Focus areas 1 Building up scale ▪ ~ EUR 200-250 p.a. earmarked and efficiencies Focus industries ▪ Synergy potential typically from product portfolio, scale & efficiency gains and cross- 2 selling opportunities ▪ Mar
Slide 18: Proven ability to enhance Brenntag's scale and portfolio through M&A
Proven ability to enhance Brenntag’s scale and portfolio through value accretive M&A EV spend for M&A acquisitions in EUR m 531 Value enhancing M&A is a core part of ✓ Brenntag’s growth strategy 439 Management has strict return ✓ hurdle-rates for M&A (based on MIRR) 239 210 220 192 153 166 €2.5bn de
Slide 19: 80% of M&A spend in 2021 related to Nutrition Sector
80% of M&A spend in 2021 related to highly attractive Nutrition Sector Water treatment Nutrition Comelt Zhongbai JM Swank Alpha ICL Matrix Nutrition GP share of BSP in Percent Region Italy China USA Canada UK USA +4%- Closing Jan-21 Jul-21 Aug-21 Feb-21 Jan-21 Jul-21 points Scale & efficiency – – –
Slide 20: Digital Sales Channel Development @ Brenntag
Digital Sales Channel Development @ Brenntag Brenntag Connect Key Features Digital Sales Solutions Channel to over 10,000 chemicals and ingredients globally $ i ▪ Buy thousands of products online by industry, supplier and product type Place Orders and Track Search Products and View and Download Ship
Slide 21: Sustainability is a fundamental part of our corporate strategy
Sustainability is a fundamental part of our corporate strategy, a constant business driver and an integral part of Brenntag’s corporate culture Brenntag’s key role in the value chain offers huge potential – but also entails an obligation to contribute towards greater sustainability in the industry 2
Slide 22: ESG: Brenntag achieves significantly above-average rating results
ESG: Brenntag achieves significantly above-average rating results Memberships & initiatives Responsible “Together for UN Global Global inclusion initiative DAX 50 DAX ESG Reporting SASB Care/Distribution Sustainability” Compact The Valuable 500 ESG Target according to GRI as of FY 2021 program initi
Slide 23: ESG: Operating sustainably to minimize energy consumption & CO2 Emissions
ESG: Operating sustainably to minimize energy consumption & CO2 Emissions CO2 Emissions1 in thousand tonnes Main sources of emissions CO2 Emissions1 Tonnes Scope 1 Company facilities, (1%) 194 company trucks & vehicles 270,427 252,033 240,755 220,080 226,251 Purchased 194,876 Scope 2 46 electricity,
Slide 24: ESG: Safety and Diversity
ESG: Safety and Diversity Group Accident Rate Diversity – Key figures TRIR3,4 / LTIR1day2 2020 2019 4.1 4.1 4.2 4.0 Proportion of women in the 33.3% 33.3% 3.2 Supervisory Board Proportion of women in the 2022 TRIR 0.0% Board of Management 20.0% 0.0% Proportion of women in 21.0% 19.1% management posi
Slide 25: Company Presentation agenda
Company Presentation Introduction to Brenntag Key investment highlights Project Brenntag Financials FY 2021 Outlook Appendix to navigate Brenntag SE – Company Presentation | March 2022 25
Slide 26: Project Brenntag: Addresses areas of improvement based on stakeholder feedback
Project Brenntag: Addresses areas of improvement based on stakeholder feedback Suppliers Customers Employees Further promote Sharpen profile Emphasize execution and towards channel tailor-made performance needs market approach culture Growth Costs Capital Markets Reignite Foster profitable Focus on
Slide 27: Project Brenntag: Delivering sustainable organic earnings growth
Project Brenntag: Delivering sustainable organic earnings growth Focus on global perspective in management board Provides channels of choice Organization Suppliers & People Enables distinct steering of Leverages global scale and Economies EUR 220 m Differentiated Brenntag Essentials & provides funct
Slide 28: Project Brenntag: Clear & measurable benefits for organic earnings growth
Project Brenntag: Clear & measurable benefits for organic earnings growth Operating EBITDA uplift1) 2) ▪ Differentiated business steering Operating ▪ Remove redundancies ~40m EUR top line impact Model ▪ Leverage economies of scale Go-to-Market ▪ Stringent customer segmentation ~EUR 220 m Approach ▪
Slide 29: Operating Model: Sharpened operating model with increased centralization
Operating Model: Sharpened operating model with increased centralization Corporate Brenntag Essentials Brenntag Specialties ▪ Drives strategic agenda Supported by Business Services ▪ Defines governance, policies and standards ▪ Steers global functions and Centers of Shared Business business services
Slide 30: Two global divisions with distinct market approach
Two global divisions with distinct market approach addressing changing needs of our business partners Brenntag Essentials Brenntag Specialties Regional logic Industry logic ▪ Superior global reach ▪ Tailored solutions and value-added services ▪ Regional leadership for our customer’s end-products ▪ L
Slide 31: Brenntag Essentials: Agile, lean, and most efficient partner of choice
Brenntag Essentials: Agile, lean, and most efficient partner of choice in local geographies Brenntag Essentials One-stop-shop Lowest cost Highest safety + for suppliers to serve compliance standards Digital Services: Operational Customer Service online ordering and excellence Excellence delivery tra
Slide 32: Brenntag Specialties: Clear focus on highly attractive industries
Brenntag Specialties: Clear focus on highly attractive industries with secular growth Growth momentum Cross-regional platform Solutions potential Critical mass Specialty Positive underlying Global reach but Value-added solutions Brenntag already with market size growth in end industry-focused and te
Slide 33: Clear assignment and accounting for products according to industry needs
Clear assignment and accounting for products according to industry needs Process chemicals Specialties & ingredients Products used indirectly in the broader Products are directly used in the Definition production process production of customers' end-product Sodium Monopropylene Sulphuric Flavors & f
Slide 34: Go-to-Market Approach: Stringent customer segmentation
Go-to-Market Approach: Stringent customer segmentation and re-deployment of sales force Key objectives ▪ Best-in-class front-end with clear roles, lean setup and high agility ▪ Focus on high-value customers Intensified focus of sales force by improved resource ~80% of GP deployment & harmonized ~25%
Slide 35: Site Network Optimization: Optimized footprint will increase efficiency
Site Network Optimization: Optimized footprint will increase efficiency 1 2 3 Develop mega sites to drive Reduce overlaps in geographies Close white spots in network scale efficiency 4 5 6 Fully-leverage Optimize inventory / Adapt to regulatory changes cross-border flows customer proximity & service
Slide 36: People & Change: Execution focused culture
People & Change: Execution focused culture to drive performance and value creation Global Clearly defined roles, responsibilities and accountabilities perspective Strong focus on performance and its individual recognition Strategic steering & business development Leadership competencies focused on e
Slide 37: Project Brenntag Update
Project Brenntag Update Overall Measures Results Implementation ▪ Go-to-Market approach with ▪ Implementation of measures ▪ Working Capital turn of 8.3x dedicated sales organizations fully according to plan ▪ Structural reduction of around 925 implemented globally ▪ Broad portfolio of dedicated trai
Slide 38: Project Brenntag achievements since inception of the program
Project Brenntag achievements since inception of the program Project Brenntag FY 2023 Project Brenntag Achievement Top line levers EBITDA impact from ~EUR 40m1) ~EUR 27m Operating Gross Profit growth Bottom line levers EBITDA impact from ~EUR 180m1) ~EUR 93m expenses reduction around EUR 120m in EUR
Slide 39: Company Presentation agenda
Company Presentation Introduction to Brenntag Key investment highlights Project Brenntag Financials FY 2021 Outlook Appendix to navigate Brenntag SE – Company Presentation | March 2022 39
Slide 40: Highlights FY 2021
Highlights FY 2021 OPERATING GROSS PROFIT OPERATING EBITDA FREE CASHFLOW EPS (fx adj.) (fx adj.) +19.6% +29.5% EUR 425m EUR 2.90 EUR 3,379.0m EUR 1,344.6m Working Capital turn on a Slightly lower than in 2020 high level at 8.3x due to special items STRONG M&A EXECUTION PROJECT BRENNTAG DIVIDEND OUTL
Slide 41: Brenntag navigated very well through challenging market conditions in 2021
Brenntag navigated very well through continued challenging market conditions in 2021 • COVID-19 pandemic posed major challenges on global economy • Continued severe disruptions in global supply chains • Capacities of chemical producers impacted by spiking energy prices and „Dual-Control“ regulatory
Slide 42: Financials FY 2021: Operating EBITDA bridge
Financials FY 2021: Operating EBITDA bridge* in EUR m Operating EBITDA growth (FX-adj.) +30% 1,350 1,345 1,300 1,250 1,200 273 1,150 1,100 1,058 1,050 -19 33 0 FY 2020 FX M&A Organic FY 2021 translation contribution growth * Calculations are partly based on assumptions made by management; effects ba
Slide 43: Financials FY 2021: Operating EBITDA bridge
Financials FY 2021: Operating EBITDA bridge* in EUR m Operating EBITDA growth (FX-adj.) +29% +34% +30% 1,400 136 FX translation M&A contribution 1,345 1,350 118 -27 1,300 178 1,250 27 -10 1,200 1,150 182 1,100 1,058 1,050 -10 6 0 FY 2020 Brenntag Brenntag All other FY 2021 Essentials Specialties seg
Slide 44: Financials FY 2021: Brenntag Essentials
Financials FY 2021: Brenntag Essentials Operating EBITDA growth (FX-adj.) in Percent ▪ Op. EBITDA development almost entirely organic EMEA LATIN AMERICA ▪ All Brenntag Essentials segments contributed to positive performance +24% +25% ▪ EMEA and North America particularly strong ▪ Asia Pacific and es
Slide 45: Financials FY 2021: Brenntag Specialties
Financials FY 2021: Brenntag Specialties Operating EBITDA growth (FX-adj.) in Percent EMEA AMERICAS ▪ Brenntag Specialties with stronger growth than Brenntag Essentials +32% +38% ▪ Broad-based growth across all segments ▪ Growth across all segments and industries ▪ Brenntag Specialties grew mainly o
Slide 46: Financials FY 2021: Income statement
Financials FY 2021: Income statement in EUR m FY 2021 FY 2020 ∆ ∆ FX adjusted Sales 14,382.5 11,794.8 21.9% 23.8% Cost of materials -11,003.5 -8,925,4 23.3% - Operating gross profit 3,379.0 2,869.4 17.8% 19.6% Operating expenses -2,034.4 -1,811.7 12.3% 13.9% Operating EBITDA 1,344.6 1,057.7 27.1% 29
Slide 47: Financials FY 2021: Cash flow items
Financials FY 2021: Cash flow items in EUR m FY 2021 FY 2020 ∆ ∆ Operating EBITDA 1,344.6 1,057.7 286.9 27.1% CAPEX -214.2 -201.9 12.3 6.1% ∆ Working capital -575.3 325.0 -900.3 >100% Principal and interest payments on lease liabilities -130.5 -126.2 -4.3 3.4% Free cash flow 424.6 1,054.6 -630.0 -59
Slide 48: Financials FY 2021: Working capital
Financials FY 2021: Working capital in EUR m 31 Dec 2021 31 Dec 2020 Inventories 1,621.9 978.9 + Trade receivables 2,290.2 1,597.5 ./. Trade payables 1,802.3 1,229.8 Working capital (end of period) 2,109.8 1,346.6 Working capital turnover (annualized)1) 8.3x 7.3x 1) Sales YTD extrapolated to the ful
Slide 49: Financials FY 2021: Segments (1/2)
Financials FY 2021: Segments (1/2) in EUR m Operating gross profit1) Operating EBITDA2) Conversion ratio ∆ FX ∆ FX FY 2021 FY 2020 ∆ adjusted FY 2021 FY 2020 ∆ adjusted FY 2021 FY 2020 Brenntag Essentials 2,066.9 1,806.2 14.4% 16.1% 843.0 664.9 26.8% 28.6% 40.8% 36.8% Brenntag Specialties 1,283.2 1,
Slide 50: Financials FY 2021: Segments (2/2)
Financials FY 2021: Segments (2/2) in EUR m Operating gross profit1) Operating EBITDA2) Conversion ratio ∆ FX ∆ FX FY 2021 FY 2020 ∆ adjusted FY 2021 FY 2020 ∆ adjusted FY 2021 FY 2020 Essentials EMEA 802.2 741.4 8.2% 7.8% 330.8 264.8 24.9% 24.3% 41.2% 35.7% Essentials North America 999.9 830.4 20.4
Slide 51: Financials FY 2021: Cash flow statement
Financials FY 2021: Cash flow statement in EUR m FY 2021 FY 2020 Profit after tax 461.4 473.8 Depreciation & amortization 373.5 297.5 Income taxes 188.9 159.5 Income tax payments -222.5 -155.5 Interest result 59.5 66.4 Interest payments (net) -49.5 -57.9 Dividends received 0.1 0.6 Changes in current
Slide 52: Financials FY 2021: Cash flow statement (continued)
Financials FY 2021: Cash flow statement (continued) in EUR m FY 2021 FY 2020 Purchases of intangible assets and property, plant & equipment (PPE) -199.3 -199.1 Purchases of consolidated subsidiaries and other business units -420.5 -46.4 Proceeds from the disposal of consolidated subsidiaries and bus
Slide 53: Financials FY 2021: Balance sheet and maturity profile
Financials FY 2021: Balance sheet and maturity profile in EUR m 31 Dec 2021 31 Dec 2020 in EUR m Financial liabilities 2,329.7 1,639.4 Bond 2025 Lease liabilities 445.6 426.8 800 Syndicated Facility Bond ./. Cash and cash equivalents 705.0 726.3 Bond + 2029 600 Warrants Net Debt 2,070.3 1,339.9 400
Slide 54: Company Presentation agenda
Company Presentation Introduction to Brenntag Key investment highlights Project Brenntag Financials FY 2021 Outlook Appendix to navigate Brenntag SE – Company Presentation | March 2022 54
Slide 55: Outlook 2022: Well positioned in challenging environment
Outlook 2022: Well positioned in challenging environment ▪ Ukraine war is an extraordinary situation which we monitor closely Macro ▪ Exceptional market conditions from 2021 expected to persist well into 2022 environment ▪ Normalization only to be expected later in the year ▪ Good start into 2022 Co
Slide 56: Review guidance 2021
Review guidance 2021 ▪ Guidance range raised twice in 2021 in EUR m March 2021 June 2021 Sept 2021 FY 2021 ▪ Business model proofed resilience Operating EBITDA 1,080 - 1,180 1,160 - 1,260 1,260 - 1,320 [1,345] ▪ Consequent COVID-19 pandemic crisis management ▪ Maintaining supply chains for partners
Slide 57: Project Brenntag: Medium term guidance for future growth
Project Brenntag: Medium term guidance for future growth Organic underlying business Project Brenntag M&A > 4% p.a. Organic operating gross profit Operating EBITDA uplift of Proven track + EUR 220 m + record by FY 20231) with unaltered scope 4% - 6% p.a. (~200 - 250 m p.a.) Organic operating EBITDA
Slide 58: Company Presentation agenda
Company Presentation Introduction to Brenntag Key investment highlights Project Brenntag Financials FY 2021 Outlook Appendix to navigate Brenntag SE – Company Presentation | March 2022 58
Slide 59: Brenntag history: Longstanding history of more than 140 years
Brenntag history: Longstanding history of more than 140 years 2020 2016 2006 2010 2004 to to 2010 2000 to 2006 1966 2008 1874 Philipp Brenntag Brenntag Private-Equity Private-Equity IPO Towards greater Initiation of Mühsam becomes becomes owned by Bain owned by BC sustainability: “Project founds the
Slide 60: Remuneration of the Board of Management
Remuneration System: Remuneration of the Board of Management Base Salary (25-35%) Preliminary Payout Amount (0-200% of target amount) Maximum Remuneration1 60% 20% 20% Short-Term Variable Individual performance multiplier Remuneration (20-30%) (0.7x – 1.3x) - e.g. leadership development, diversity,
Slide 61: Financials Q4 2021: Operating EBITDA bridge
Financials Q4 2021: Operating EBITDA bridge* in EUR m Operating EBITDA growth (FX-adj.) +27% +39% 33% 360 44 345 340 M&A contribution FX translation 29 -2 320 50 13 2 300 280 42 EUR 14 million 260 254 7 1 M&A contribution 240 0 Q4 2020 Brenntag Brenntag All other Q4 2021 Essentials Specialties segme
Slide 62: Financials Q4 2021: Income statement
Financials Q4 2021: Income statement in EUR m Q4 2021 Q4 2020 ∆ ∆ FX adjusted Sales 4,041.7 2,880.4 40.3% 37.0% Cost of materials -3,128.2 -2,177.5 43.7% - Operating gross profit 913.5 702.9 30.0% 26.5% Operating expenses 567.2 448.8 26.4% 23.1% Operating EBITDA 346.3 254.1 36.3% 32.5% Special items
Slide 63: Financials Q4 2021: Segments (1/2)
Financials Q4 2021: Segments (1/2) in EUR m Operating gross profit1) Operating EBITDA2) Conversion ratio ∆ FX ∆ FX Q4 2021 Q4 2020 ∆ adjusted Q4 2021 Q4 2020 ∆ adjusted Q4 2021 Q4 2020 Brenntag Essentials 551.1 439.2 25.5% 21.5% 208.5 158.1 31.9% 27.2% 37.8% 36.0% Brenntag Specialties 355.7 258.4 37
Slide 64: Financials Q4 2021: Segments (2/2)
Financials Q4 2021: Segments (2/2) in EUR m Operating gross profit1) Operating EBITDA2) Conversion ratio ∆ FX ∆ FX Q4 2021 Q4 2020 ∆ adjusted Q4 2021 Q4 2020 ∆ adjusted Q4 2021 Q4 2020 Essentials EMEA 210.1 179.3 17.2% 15.8% 85.3 57.8 47.6% 45.1% 40.6% 32.2% Essentials North America 268.7 195.3 37.6
Slide 65: Financials Q4 2021: Free cash flow
Financials Q4 2021: Free cash flow Q4 2021 Q4 2020 ∆ ∆ Operating EBITDA 346.3 254.1 92.2 36.3% CAPEX -108.3 -74.8 33.5 -44.8% ∆ Working capital -132.3 110.8 -243.1 >100% Principal and interest payments on lease liabilities -33.2 -31.4 -1.8 5.7% Free cash flow 72.5 258.7 -168.2 -72.0% Brenntag SE – C
Slide 66: Financials Q4 2021: Cash flow statement
Financials Q4 2021: Cash flow statement in EUR m Q4 2021 Q4 2020 Profit after tax 63.0 115.2 Depreciation & amortization 89.9 74.4 Income taxes 25.9 32.9 Income tax payments -68.3 -37.3 Interest result 18.2 13.3 Interest payments (net) -15.9 -11.6 Changes in current assets and liabilities -141.2 181
Slide 67: Financials Q4 2021: Cash flow statement (continued)
Financials Q4 2021: Cash flow statement (continued) in EUR m Q4 2021 Q4 2020 Purchases of intangible assets and property, plant & equipment (PPE) -89.4 -68.1 Purchases of consolidated subsidiaries and other business units -0.7 -18.6 Proceeds from the disposal of consolidated subsidiaries and busines
Slide 68: ROCE: Increasing value added and returns
ROCE: Increasing value added and returns in EUR m 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 EBITA 853.2 758.1 766.5 770.9 663.3 694.5 698.7 627.5 595.6 610.8 569.9 513.6 Average carrying amount 3,802.8 3,582.9 3,427.3 3,111.6 2,969.2 2,753.8 2,534.6 2,190.1 2,008.4 1,860.3 1,660.0
Slide 69: Cash flow: Strong cash generation over the past years
Cash flow: Strong cash generation over the past years in EUR m 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 Op. EBITDA 1,344.6 1,057.7 1,001.5 875.5 836.0 810.0 807.4 726.7 696.8 707.0 658.8 597.6 CAPEX -214.2 -201.9 -205.2 -172.2 -148.1 -141.1 -130.1 -104.8 -97.2 -94.7 -86.0 -85.1 ∆
Slide 70: Financials FY 2021: Continuous dividend increase
Financials FY 2021: Continuous dividend increase in EUR m 2021 2020 ∆ Dividend in EUR Profit after tax 461.4 473.8 -2.6% +11% 1.45 CAGR 1.35 1.20 1.25 Less minority interests 13.1 7.3 79.5% 1.10 1.00 1.05 0.87 0.90 Profit after tax (consolidated) attributable 0.80 448.3 466.5 -3.9% 0.67 to sharehold
Slide 71: Brenntag's Historic Leverage & Credit Rating
Brenntag’s Historic Leverage & Credit Rating Leverage: Net Debt / operating EBITDA 6 IPO 5,6 5 4,8 4 3,6 IFRS 16 3 2,4 2,3 2,1 2,1 2,1 2,0 2,1 2 1,9 1,9 1,9 1,5 1,3 1 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 S&P B B+ BB+ BBB- BBB Moody’s B2 Ba1 Baa3 Baa2 Brenntag
Slide 72: Bond data
Bond data Bond (with Warrants) 2022 Bond 2025 Bond 2029 Issuer Brenntag Finance B.V. Brenntag Finance B.V. Brenntag Finance B.V. Listing Frankfurter Freiverkehr Luxembourg Stock Exchange Luxembourg Stock Exchange ISIN DE000A1Z3XQ6 XS1689523840 XS2394063437 Aggregate principal amount USD 500,000,000
Slide 73: Share price performance versus DAX and MDAX 2021 and YTD 2022
Share price performance versus DAX and MDAX 2021 and YTD 2022 Performance in % 140 130 120 +18% 110 +5% +4% 100 90 Brenntag DAX MDAX Source: Reuters data as of February 28, 2022 Brenntag SE – Company Presentation | March 2022 73
Slide 74: Brenntag Share & Shareholder Structure
Brenntag Share & Shareholder Structure Share data Click to view Analysts’ Opinions2) current consensus ISIN; Stock Symbol; Listed since DE000A1DAHH0; BNR; 29 March 2010 Subscribed capital; Outstanding Sell 0 EUR 154,500,000.00; 154,500,000 Hold Shares 3 Class of shares; Free float Registered shares;
Slide 75: Relevant links & documents
Relevant links & documents Financial Publications Brenntag Share Current Consensus Financial News Click to visit website Brenntag SE – Company Presentation | March 2022 75
Slide 76: Financial calendar / Contact
Financial calendar / Contact Date Event May 11, 2022 Interim Report Q1 2022 June 9, 2022 General Shareholders’ Meeting August 10, 2022 Interim Report Q2 2022 Kelvin Jörn Bianca Li Thomas Altmann Diana Alester Jan Ruhlandt Manager IR Manager IR SVP IR Senior Manager IR Manager IR November 9, 2022 Int
Slide 77: Disclaimer
Disclaimer This presentation may contain forward-looking statements based on current assumptions and forecasts made by Brenntag SE and other information currently available to the company. Various known and unknown risks, uncertainties and other factors could lead to material differences between the