Brenntag Se · XETR:BNR
Brenntag — Investor Presentation (March 2012)
77 slides from Brenntag's investor presentation, March 2012
Slide 1: Company Presentation March 2012
Company Presentation March 2012
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements based on current assumptions and forecasts made by Brenntag AG and other information currently available to the company.company Various known and unknown risks, uncertainties and other factors could lead to material differences betw
Slide 3: Brenntag is the global market leader in chemical distribution
Brenntag is the global market leader in chemical distribution. Linking chemical manufacturers and chemical users users, Brenntag provides business- business to-business distribution solutions for industrial and specialty chemicals globally. With over 10,000 products and a world-class supplier base,
Slide 4: Share Price (indexed to 100)
100.00 110.00 120.00 130.00 140 00 140.00 150.00 160.00 0 00 170.00 180.00 80.00 90 00 90.00 26.03.2 2010 26.04.2 2010 26.05.2 2010 26.06.2 2010 26.07.2 2010 26.08.2 2010 26.09.2 2010 26.10.2 2010 Share Price (indexed to 100) 26.11.2 2010 Brenntag 26.12.2 2010 26.01.2 2011 26.02.2 2011 26.03.2 2011
Slide 5: Agenda
Agenda 1. Introduction to Brenntag 2 Key investment highlights 2. 3. Financials 2011 4. Outlook Appendix 4
Slide 6: Global market leader with strong financial profile
1. Introduction to Brenntag Global market leader with strong financial profile • Global leader with 6.9%*) market share and sales of €8.7bn in 2011 • c. c 13,000 13 000 employees, employees thereof nearly 4,700 4 700 dedicated local sales and marketing employees • Full-line portfolio of over 10,000
Slide 7: Chemical distributors fulfil a value-adding function in the supply chain
1. Introduction to Brenntag Chemical distributors fulfil a value value-adding adding function in the supply chain Chem mical ducer Filling Mixing Extensive Vendor- User Bundling Chem Purchase Transport Storage Packaging Blending Technical Managed mical Prod Transport Labelling Formulating Support In
Slide 8: Chemical distributors fulfil a value-adding function in the supply chain
1. Introduction to Brenntag Chemical distributors fulfil a value value-adding adding function in the supply chain Chem mical ducer Filling Mixing Extensive Vendor- User Bundling Chem Purchase Transport Storage Packaging Blending Technical Managed mical Prod Transport Labelling Formulating Support In
Slide 9: Chemical distributors fulfil a value-adding function in the supply chain
1. Introduction to Brenntag Chemical distributors fulfil a value value-adding adding function in the supply chain Chem mical ducer Filling Mixing Extensive Vendor- User Bundling Chem Purchase Transport Storage Packaging Blending Technical Managed mical Prod Transport Labelling Formulating Support In
Slide 10: As a full-line distributor, Brenntag can add significant value
1. Introduction to Brenntag As a full full-line line distributor, Brenntag can add significant value Chemical Producer A Chemical User 1 Ch i l Producer Chemical P d B Ch i l User Chemical U 2 Chemical Producer C No chemical distributors Chemical User 3 Chemical Producer D Supply chain inefficiencie
Slide 11: Chemical distribution differs substantially from chemical production
1. Introduction to Brenntag 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 Cu
Slide 12: Agenda
Agenda 1. Introduction to Brenntag 2 Key investment highlights 2. 3. Financials 2011 4. Outlook Appendix 11
Slide 13: A highly attractive investment case
2. Key investment highlights A highly attractive investment case 9 Global market leader 9Significant growth potential in an attractive industry 9 Superior business model with resilience 9 Excellence in execution 9 Highly experienced management team 9 Strong financial profile 12
Slide 14: A global full-line third party chemical distribution network
2. Key investment highlights 9 Global market leader A global full full-line line third party chemical distribution network Third party chemical distribution estimated market size and market shares Global1) Europe North America Latin America Asia Pacific ~EUR 115bn ~EUR 37bn ~EUR 25bn ~EUR 12bn ~EUR
Slide 15: Third party chemical distribution outgrew total chemical demand
2. Key investment highlights 9 Significant growth potential in an attractive industry Third party chemical distribution outgrew total chemical demand Third party chemical distribution opportunity ~EUR 1.96 trillion Total chemical CAGR demand ~EUR 1.66 trillion 8.5% ~EUR 1 1.2 2 trillion Distribution
Slide 16: Multiple levers of organic growth and acquisition potential
2. Key investment highlights 9 Significant growth potential in an attractive industry Multiple levers of organic growth and acquisition potential Trend Growth driver Brenntag global initiative Growth in chemical demand • Diverse business mix Chemical + distribution Outsourcing • Turned-over business
Slide 17: Significant potential for consolidation and external growth
2. Key investment highlights 9 Significant growth potential in an attractive industry Significant potential for consolidation and external growth Brenntag’s acquisition track record Building up scale and efficiencies • 104 transactions since 1991, 1991 thereof 33 since 2007 1) • Total cost of acquis
Slide 18: Diversity provides resilience and growth potential
2. Key investment highlights 9 Superior business model with resilience Diversity provides resilience and growth potential Geography End-markets Customers Products Suppliers 68 countries widespread more than 160,000 10,000+ several thousand No material exposure Top 10 Top 10 Top 10 2011 Sales split t
Slide 19: High barriers to entry due to critical scale and scope
2. Key investment highlights 9 Superior business model with resilience High barriers to entry due to critical scale and scope Permits and licences Infrastructure availability Significant capital Regulatory standards d time resources and ti required to create a Know-how global full-line g distributor
Slide 20: Excellence in execution due to balance of global scale and local reach
2. Key investment highlights 9 Excellence in execution Excellence in execution due to balance of global scale and local reach Global platform Local reach 9 Core management functions 9 Better local understanding of market – Strategic direction trends and adaptation to respective customer needs – Cont
Slide 21: Highly experienced management team
2. Key investment highlights 9 Highly experienced management team Brenntag’ss board alone has more than 90 years of collective experience Brenntag Brenntag’s board of management Steven Holland Jürgen Buchsteiner William Fidler CEO CFO Board Member • With Brenntag since 2006 • With Brenntag since 200
Slide 22: Growth track record and resilience through the downturn
2. Key investment highlights 9 Strong financial profile Growth track record and resilience through the downturn Sales (in EUR m) Gross profit (in EUR m) EBITDA (in EUR m) 1,768 659 598 1,636 1,492 8 679 8,679 1,460 481 477 1,355 7,380 7,649 408 6,671 1,170 6,365 5 958 5,958 331 1,033 4,991 254 2005
Slide 23: A highly attractive investment case
2. Key investment highlights A highly attractive investment case 9 Global market leader 9Significant growth potential in an attractive industry 9 Superior business model with resilience 9 Excellence in execution 9 Highly experienced management team 9 Strong financial profile 22
Slide 24: Agenda
Agenda 1. Introduction to Brenntag 2 Key investment highlights 2. 3. Financials 2011 4. Outlook Appendix 23
Slide 25: Introductory remarks to 2011 earnings
3. Financials 2011 Introductory remarks to 2011 earnings Full-year 2011 operating EBITDA of EUR 660.9m in the middle of the guidance range of EUR 650m to EUR 670m Operating EBITDA marks another record year and represents a 12.2% growth over 2010 on a constant currency basis (9 (9.7% 7% as reported)
Slide 26: Operating highlights 2011
3. Financials 2011 Operating highlights 2011 EUR 1,768.0m Gross profit FX adjusted increase of 10.0% y-o-y (as reported increase of 8.0% y-o-y) y o y) EUR 660.9m Operating EBITDA FX adjusted increase of 12.2% y-o-y (as reported increase of 9 9.7% 7% y-o-y) y o y) Operating EBITDA / 37.4% (against 36
Slide 27: Successful acquisitions 2011
3. Financials 2011 Successful aquisitions 2011 Acquired company Strategic rationale G.S. Robins & Company, St. Louis, Improve scale and efficiencies in North Missouri, USA America, expand positioning in focus industries like food and water treatment Zhong Yung (International) Chemical Co., Expand ge
Slide 28: Strategic market entry in China
3. Financials 2011 Strategic market entry in China • Acquisition of Zhong Yung (International) Chemical Ltd. • Purchase of the first tranche of 51% end of August 2011 and consolidation since September 1, 2011 • Acquisition of the remaining stake is contracted for 2016 • Enterprise value for the firs
Slide 29: Expansion of product portfolio into base oils and lubricant additives
3. Financials 2011 Expansion of product portfolio into base oils and lubricant additives • Acquisition of Multisol Group Ltd., a specialty chemical distributor of high value specialty chemicals • Enterprise value is EUR 120.4m • Multisol provides a further product portfolio expansion into lubricant
Slide 30: Refinancing
3. Financials 2011 Refinancing • Refinancing g took advantage g of Brenntag’s g continued successful track record and the attractive market environment in the first half of 2011 • Resulting in extended maturities, high degree of financial flexibility and significant margin improvements • Credit rati
Slide 31: Refinancing (continued)
3. Financials 2011 Refinancing (continued) • Brenntag issued its first bond in July 2011 • Further diversification of the financing mix • Substantial demand among investors, issuance was oversubscribed several times Main data of the Brenntag bond ISIN XS0645941419 Issuer Brenntag Finance B.V. Listin
Slide 32: Income statement
3. Financials 2011 Income statement ∆ FX i EUR m in 2011 2010 ∆ adjusted Sales 8,679.3 7,649.1 13.5% 15.4% Cost of goods sold -6,911.3 -6,012.7 14.9% Gross profit 1,768.0 1,636.4 8.0% 10.0% Expenses -1,109.2 -1,038.8 6.8% EBITDA 658.8 597.6 10.2% 12.8% Add back transaction costs 1) 2.1 5.0 Operating
Slide 33: Income Statement (continued)
3. Financials 2011 Income Statement (continued) in EUR m 2011 2010 ∆ EBITDA 658.8 597.6 10.2% Depreciation -88.9 -84.0 5.8% EBITA 569.9 513.6 11.0% Amortization1) -24.1 -104.6 -77.0% EBIT 545.8 409.0 33.4% Financial result -126.32)) -177.2 -28.7% EBT 419.5 231.8 81.0% P fit after Profit ft tax t 279
Slide 34: Cash flow statement
3. Financials 2011 Cash flow statement in EUR m 2011 2010 Profit after tax 279.3 146.6 Depreciation & amortization 113.0 188.6 Income taxes 140.2 85.2 Income tax payments -119.3 -86.1 Interest result 107.3 168.3 I t Interest t payments t (net) ( t) -112.0 112 0 -195.3 195 3 Changes in current assets
Slide 35: Cash flow statement (continued)
3. Financials 2011 Cash flow statement (continued) in EUR m 2011 2010 Purchases of intangible assets and property, plant & equipment -86.3 -81.2 Purchases of consolidated subsidiaries and other business units -122.3 -143.1 Other 10 5 10.5 58 5.8 Cash used for investing activities -198.1 -218.5 Capit
Slide 36: Balance sheet as of 31 December 2011
3. Financials 2011 Balance sheet as of 31 December 2011 in EUR m 5,576 5,576 459 Cash and cash equivalents Trade receivables 1,952 Financial liabilities 1,221 286 Other assets 697 Inventories Trade payables 957 350 Other liabilities 201 Other provisions Intangible assets1) 2,047 355 Other 1,761 Equi
Slide 37: Specific effects relating to the consolidation of Zhong Yung
3. Financials 2011 Specific effects relating to the consolidation of Zhong Yung • 51% of Zhong Yung is currently owned by Brenntag; the acquisition of the remaining 49% stake is contracted for 2016. • Zhong Yung is fully consolidated by the Brenntag Group since September 2011. • Earnings attributabl
Slide 38: Balance sheet and leverage
3. Financials 2011 Balance sheet and leverage 30 Sep 30 Jun 31 Mar in EUR m 31 Dec 2011 31 Dec 2010 31 Dec 2009 2011 2011 2011 Financial liabilities1) 1,952.4 1,855.2 1,729.8 1,726.7 1,783.8 2,436.3 ./. / Cash C h and d cash h 458.8 481.6 259.2 349.8 362.9 602.6 equivalents Net Debt 1,493.6 1,373.6
Slide 39: Leverage: Net debt / Operating EBITDA
3. Financials 2011 Leverage: Net debt / Operating EBITDA1) 2) 6.0x 6.0x 5.6x 4.8x 4.0x 3.6x 4.0x 2.7x 2.7x 2.6x 2.4x 2.3x 2.3x 2.2x 2.1x 2.0x 2.0x 0.0x 0.0x 0 0x 2007 2008 2009 2) 31 M Mar 30 J Jun 30 S Sep 31 D Dec 31 M Mar 30 J June 30 S Sep 31 D Dec 2) 2) 2) 2) 2) 2) 2010 2010 2010 2010 2011 2011
Slide 40: Maturities profile as of 31 December 2011
3. Financials 2011 Maturities profile as of 31 December 2011 EUR m 1,400 Main maturity under Syndicated Facility 1,200 1,000 800 600 Bond 400 EUR 179m borrowings under A/R Securitization – 200 0 2012 2013 2014 2015 2016 2017 2018 39
Slide 41: Working capital
3. Financials 2011 Working capital 31 Dec 30 Sep 30 June 31 Mar 31 Dec 31 Dec i EUR m in 2011 2011 2011 2011 2010 2009 Inventories 696.8 653.4 645.7 606.0 606.1 422.3 + Trade receivables 1,220.9 1,279.2 1,264.8 1,216.2 1,059.7 831.4 ./. Trade payables 956.6 975.3 923.5 917.7 834.1 655.6 Working capi
Slide 42: Return on net assets (RONA)
3. Financials 2011 Return on net assets (RONA) in EUR m 2011 2010 ∆ ∆ EBITA 569.9 513.6 56.3 11.0% Average property, plant and equipment (PPE) 824.0 806.1 17.9 2.2% Average working capital 928.3 752.4 175.9 23.4% R t Return on nett assets t 32 5% 32.5% 33 0% 33.0% 41
Slide 43: Free cash flow
3. Financials 2011 Free cash flow in EUR m 2011 2010 ∆ ∆ EBITDA 658.8 597.6 61.2 10.2% Capex -86.0 -85.1 -0.9 1.1% ∆ Working capital -61.0 -136.4 75.4 -55.3% F Free cash h flow fl 511 8 511.8 376 1 376.1 135 7 135.7 36 1% 36.1% 42
Slide 44: Segments
3. Financials 2011 Segments North Latin Asia All other in EUR m Europe Group America America Pacific segments External sales 2011 4 29 3 4,295.3 2 2 2,725.7 806 9 806.9 41 4 415.4 436 0 436.0 86 93 8,679.3 2010 3,927.5 2,442.7 725.1 217.1 336.7 7,649.1 ∆ 9.4% 11.6% 11.3% 91.3% 29.5% 13.5% ∆ FX 9.2%
Slide 45: Dividend proposal
3. Financials 2011 Dividend proposal in EUR m Profit after tax 279.3 l less minority i it interest i t t -1.9 19 Profit after tax (consolidated) attributable to shareholders of Brenntag AG 277.4 Proposed dividend payment 103 0 103.0 Dividend per share in EUR 2.00 Payout ratio 37 1% 37.1% 44
Slide 46: Agenda
Agenda 1. Introduction to Brenntag 2 Key investment highlights 2. 3. Financials 2011 4. Outlook Appendix 45
Slide 47: Outlook 2012
4. Outlook 2012 Outlook 2012 Trend 2012 2011 Comments and 2013 • Ongoing but slower macroeconomic growth Sales EUR 8,679m • Outsourcing trends to distribution, the preferential role of scale distributors and Brenntag’s strong competitive position are expected to provide further g growth potential •
Slide 48: Outlook 2012
4. Outlook 2012 Outlook 2012 Trend 2012 2011 Comments and 2013 • To a large extent a function of sales growth Working capital EUR 961m • Business growth will lead to an increase of working capital • Capex spending will be slightly above depreciation due to increasing business EUR 86m Capex activitie
Slide 49: Agenda
Agenda 1. Introduction to Brenntag 2 Key investment highlights 2. 3. Financials 2011 4. Outlook Appendix 48
Slide 50: Contents
Appendix Contents • Longstanding history of more than 140 Years ..................................... p. 50 • Strategy focus on continued profitable growth ................................. p 51 p. • Top initiative – Turned-over business ................................................... p. 52 • To
Slide 51: Longstanding history of more than 140 years
Appendix Longstanding history of more than 140 years 1874 • Philipp Mühsam founds the business in Berlin 1912 • Entry into chemical distribution business 1966 • Brenntag becomes international, acquiring Balder in Belgium 1970-1979 • US business established; continued acquisitions in European and Nor
Slide 52: Strategy focus on continued profitable growth
Appendix Strategy focus on continued profitable growth Be the safest, fastest growing, most profitable, global chemical distributor and preferred channel for both Vision specialty and industrial chemicals • Focus on organic growth and acquisitions – Intense customer orientation – Full-line product p
Slide 53: Top initiative – Turned-over business
Appendix Top initiative – Turned Turned-over over business Substantially increase supplier penetration by proactively taking over smaller customers from suppliers • Reduced administration cost Cost reduction • Reduced logistics cost at suppliers • Better inventory levels, credit terms Brenntag’s val
Slide 54: Top initiative – Focused segment growth
Appendix Top initiative – Focused segment growth Significantly increase share in customer industries where Brenntag can achieve above average growth 1 Water ACES1) Capturing cross- Treatment selling opportunities 2 Optimization of portfolio, leveraging of know-how Personal across regions Food Growth
Slide 55: Top initiative – Key accounts
Appendix Top initiative – Key accounts Increase business with pan-regional / global key customers based on increased demand Concept • Management believes amount spent by customers on chemical distribution may be 15% to 25% of their total chemical spending p g • Partnering with an international distr
Slide 56: Top initiative – AdBlue / DEF
Appendix Top initiative – AdBlue / DEF1) High volume growth of high quality urea solution needed for catalytic reaction in trucks to fulfill regulatory requirements in Europe (AdBlue) and North America (DEF) Concept • In Europe and North America new trucks have to meet specific norms for reduced emi
Slide 57: North America – Efficient hub & spoke system
Appendix North America – Efficient hub & spoke system Hub & spoke system – efficient management of stock and storage utilization Hub Spokes The highlighted states account for 70% of US manufacturing1) • Larger distribution sites (“hubs”) are fully equipped with tanks, filling stations, mixing and bl
Slide 58: Committed to health, safety and the environment
Appendix Committed to health, safety and the environment Committed to the principles of Responsible Care / Responsible Distribution1) • Product responsibility • Plant safety • Occupational safety and health • Comprehensive environmental protection (air, water, soil, raw materials, waste) • Transport
Slide 59: Acquisitions have achieved three main objectives
Appendix Acquisitions have achieved three main objectives Building up scale Expanding geographic Improving and efficiencies coverage full-line portfolio • Germany, 2002 • CEE, 2000 • ACES1), 2004 Biesterfeld Neuber Acquacryl/Chemacryl (UK) • UK and Ireland Ireland, 2006 • Canada / Latin America / •
Slide 60: Asia Pacific – Clearly defined strategy
Appendix Asia Pacific – Clearly defined strategy Brenntag's goal: Full-line distribution in Asia Pacific with access to various markets Strategic steps to build up Portfolio expansion esp. in Industrial Chemicals pan-Asian and expansion of geographical coverage network Market entry in China 9 - Acqu
Slide 61: Acquisition of EAC Industrial Ingredients
Appendix Acquisition of EAC Industrial Ingredients Fullyy in line with Brenntag’s g g growth strategy to expand presence in emerging markets Quantum leap from foothold in Asia Pacific to an established Asia Pacific Platform – market entry in two new Asian markets (Cambodia, Bangladesh) Significant b
Slide 62: Operating highlights Q4 2011
Appendix Operating highlights Q4 2011 EUR 444.3m 444 3m Gross Profit FX adjusted increase of 8.5% y-o-y (as reported increase of 8.2% y-o-y) EUR 168.5m 168 5 Operating EBITDA FX adjusted increase of 9.4 % y-o-y (as reported increase of 8.7% y-o-y) Operating EBITDA / 37.9% (against 37.8% in Q4 2010 a
Slide 63: Income statement Q4
Appendix Income statement Q4 in EUR m Q4 2011 Q4 2010 ∆ FY 2011 Sales 2,160.8 1,938.9 11.4% 8,679.3 Cost of Goods Sold -1,716.5 -1,528.4 12.3% -6,911.3 Gross Profit 444.3 410.5 8.2% 1,768.0 Expenses -275.1 -254.1 8.3% -1,109.2 EBITDA 169.2 156.4 8.2% 658.8 Add back -0.7 -1.4 2.1 Transaction costs 1)
Slide 64: Income statement Q4 (continued)
Appendix Income statement Q4 (continued) in EUR m Q4 2011 Q4 2010 ∆ FY 2011 EBITDA 169.2 156.4 8.2% 658.8 Depreciation -23.0 -21.7 6.0% -88.9 EBITA 146.2 134.7 8.5% 569.9 Amortization1) -6.7 -6.9 -2.9% -24.1 EBIT 139.5 127.8 9.2% 545.8 Financial result -32.62)) -35.8 -8.9% -126.3 EBT 106.9 92.0 16.2
Slide 65: Cash flow statement Q4
Appendix Cash flow statement Q4 in EUR m Q4 2011 Q4 2010 FY 2011 Profit after tax 78.1 62.4 279.3 Depreciation & amortization 29.7 28.6 113.0 Income taxes 28.8 29.6 140.2 Income tax payments -30.3 -30.4 -119.3 Interest result 22.6 28.8 107.3 I t Interest t payments t (net) ( t) -8.4 84 -26.6 26 6 -1
Slide 66: Cash flow statement Q4 (continued)
Appendix Cash flow statement Q4 (continued) in EUR m Q4 2011 Q4 2010 FY 2011 Purchases of intangible assets and PPE -35.1 -31.8 -86.3 Purchases of consolidated subsidiaries and other -97.1 -5.5 -122.3 business units Oth Other 33 3.3 26 2.6 10 5 10.5 Cash used for investing activities -128.9 -34.7 -1
Slide 67: Free cash flow Q4
Appendix Free cash flow Q4 in EUR m Q4 2011 Q4 2010 FY 2011 EBITDA 169.2 156.4 658.8 Capex -38.0 -37.9 -86.0 ∆ Working Capital 43.8 34.5 -61.0 F Free Cash C h Flow Fl 175 0 175.0 153 0 153.0 511 8 511.8 66
Slide 68: Segments Q4
Appendix Segments Q4 North Latin Asia All other in EUR m Europe Group America America Pacific segments External sales Q4 2011 1 00 8 1,007.8 692 692.7 209 4 209.4 142 1 142.1 108 8 108.8 2 160 8 2,160.8 Q4 2010 979.3 598.9 182.1 95.2 83.4 1,938.9 ∆ 2.9% 15.7% 15.0% 49.3% 30.5% 11.4% ∆ FX 4.0% 14.8%
Slide 69: Increasing value added and returns
Appendix Increasing value added and returns % CAGR in EUR m 2007 %∆ 2008 %∆ 20091) %∆ 2010 %∆ 2011 2007- 2011 Sales 6,671 10.6 7,380 -13.8 6,365 20.2 7,649 13.5 8,679 6.8 Cost of goods 5,317 10.7 5,887 -16.7 4,905 22.6 6,013 14.9 6,911 6.8 sold Gross profit 1,355 10.2 1,492 -2.2 1,460 12.1 1,636 8.0
Slide 70: Strong cash generation over the past years
Appendix Strong cash generation over the past years in EUR m 2007 2008 20091) 2010 2011 EBITDA 407.9 480.9 476.6 597.6 658.8 Capex -104.6 -84.3 -71.8 -85.1 -86.0 ∆ Working capital -24.4 24 4 -53.5 53 5 242 0 242.0 -136.4 136 4 -61.0 61 0 Free cash flow2) 278.9 343.1 646.8 376.1 511.8 Average working
Slide 71: IPO-related effects on income statement
Appendix IPO-related IPO related effects on income statement Q1 Q2 Q3 Q4 in EUR m H1 2010 2010 2010 2010 2010 2010 Effects above EBITDA IPO costs charged to Brachem +2.5 0.0 +2.5 0.0 -0.4 +2.1 Acquisition S.C.A. IPO costs -8.2 0.0 -8.2 0.0 +1.6 -6.6 Total effect above EBITDA -5.7 0.0 -5.7 0.0 1.2 -4
Slide 72: Income Statement adjusted for IPO effects
Appendix Income Statement adjusted for IPO effects in EUR m Q1 2010 Q2 2010 H1 2010 Q3 2010 Q4 2010 2010 EBITDA 128.5 152.8 281.3 159.9 156.4 597.6 Adjustment for IPO- 5.7 0.0 5.7 0.0 -1.2 4.5 related effects EBITDA adjusted 134.2 152.8 287.0 159.9 155.2 602.1 Financial result -73.6 73 6 -35.1 35 1
Slide 73: Shareholder structure as of March 2012
Appendix Shareholder structure as of March 2012 13.69 % Brachem Acquisition S.C.A. Freefloat 86.31 % 72
Slide 74: Share data
Appendix Share data ISIN DE000A1DAHH0 Stock symbol BNR Listed since 29 March 2010 Subscribed capital EUR 51,500,000 51 500 000 Outstanding shares 51,500,000 Class of shares Registered shares Free float 86.31% Official market Prime Standard XETRA and Frankfurt Regulated unofficial markets Berlin, Stu
Slide 75: Bond data
Appendix Bond data ISIN XS0645941419 Listing Luxembourg Stock Exchange Issuer Brenntag Finance B.V. Guarantors Brenntag AG, AG several Brenntag Group companies Aggregate principal amount EUR 400,000,000 Denomination EUR 1,000 Minimum transferable amount EUR 50,000 Coupon p 5.50% Coupon payment 19 Ju
Slide 76: Financial calendar
Appendix Financial calendar March 21, 21 2012 Annual Report 2011 May 9, 2012 Interim Report Q1 2012 May y 14 – May y 16,, 2012 Deutsche Bank German & Austrian Conference June 20, 2012 General Shareholders’ Meeting June 25 – June 26, 2012 Goldman Sachs Business Services Conference August 8, 2012 Inte
Slide 77: Contact
Appendix Contact Brenntag AG Investor Relations Stinnes-Platz 1 45472 Mülheim an der Ruhr Germany Phone: +49 (0) 208 7828 7653 Fax: +49 (0) 208 7828 7755 Email: IR@brenntag.de Web: www.brenntag.com Stefanie Steiner, Diana Alester, Georg Müller Investor Relations 76