Slide 1: Q1 2024 Results
Q1 2024 Results Brenntag SE May 14, 2024
Slide 2: Q1 2024 Results Presentation
Q1 2024 Results 1. Highlights Q1 2024 Presentation 2. Financial performance Q1 2024 3. Outlook 4. Appendix
Slide 3: Highlights Q1 2024
Highlights Q1 2024 SALES OPERATING GROSS OPERATING EBITA FREE CASH FLOW PROFIT EUR 4.0 bn EUR 984 m EUR 260 m EUR 175 m - 10.9% vs. PY (fx adj.) - 5.1% vs. PY (fx adj.) - 24.0% vs. PY (fx adj.) - 61.0% vs. Q1 2023 EPS BUSINESS BOND PLACEMENT OUTLOOK FY 2024 ENVIRONMENT APRIL 2024 EUR 0.97 Challengin
Slide 4: Update on our strategic initiatives
Update on our strategic initiatives Portfolio Strategy M&A Shift Reallocation of selected businesses Legal and operational disentanglement started in January 2024 to further started beginning of 2024 3 acquisitions1) (YTD May 10, 2024): strengthen coherence of business models Internal respon
Slide 5: Financial performance Q1 2024
Q1 2024 Results 1. Highlights Q1 2024 Presentation 2. Financial performance Q1 2024 3. Outlook 4. Appendix
Slide 6: Operating EBITA bridges
Financials Q1 2024: Operating EBITA bridges1) Operating EBITA growth Operating EBITA growth by division in EUR m in EUR m - 24% - 23% - 23% - 24% 6 3 -3 -4 -35 0 3 -88 -59 345 345 6 260 260 Q1 2023 FX translation M&A Organic Q1 2024 Q1 2023 Brenntag Brenntag Group and Q1 2024 contribution growth Spe
Slide 7: Financials Q1 2024: Brenntag Specialties
Financials Q1 2024: Brenntag Specialties Operating EBITA growth vs. PY Results affected by negative gross profit per unit development while volumes almost reached prior-year level Life Science Material Science Op. Gross Profit of EUR 286 million, a decrease of 8.3% vs. PY -19.4% -17.7% Op. EBITA of
Slide 8: Financials Q1 2024: Brenntag Essentials
Financials Q1 2024: Brenntag Essentials Operating EBITA growth vs. PY Brenntag Essentials with positive volume developments offset by lower gross profit per unit Op. Gross Profit of EUR 698 million, a decline of 3.8 % vs. PY NORTH AMERICA EMEA -12.5% -26.6% Op. EBITA of EUR 186 million, a decrease o
Slide 9: Financials Q1 2024: Income statement
Financials Q1 2024: Income statement in EUR m Q1 2024 Q1 2023 ∆ ∆ FX adjusted Sales 4,002.6 4,527.1 -11.6% -10.9% Cost of materials -3,017.9 -3,481.5 -13.3% - Operating Gross Profit 984.4 1,045.6 -5.9% -5.1% Operating expenses -642.8 -625.2 2.8% 3.5% Operating EBITDA 341.6 420.4 -18.7% -18.0% Deprec
Slide 10: Financials Q1 2024: OPEX bridge
Financials Q1 2024: OPEX bridge1) Operating expense development in EUR m Positive translational FX effect in Q1 2024 3.5% ~5 M&A related increase combined with DiDEX & IT ~0 investments leading to cost increase against prior-year ~20 Underlying OPEX flat despite cost inflation, particularly in ~-5 w
Slide 11: Financials Q1 2024: Free cash flow
Financials Q1 2024: Free cash flow in EUR m Q1 2024 Q1 2023 ∆ ∆ Operating EBITDA 341.6 420.4 -78.8 -18.7% Payments to acquire intangible assets and property, plant and equipment -71.7 -49.7 -22.0 44.3% ∆ Working capital1) -52.7 116.7 -169.4 -145.2% Principal and interest payments on lease liabilitie
Slide 12: Balance sheet and maturity profile
Financials Q1 2024: Balance sheet and maturity profile Eurobond & Promissory Note & in EUR m 31 Mar 2024 31 Dec 2023 in EUR m ESG-linked Synd. Loan Financial liabilities 2,270.6 2,313.9 Eurobond & (New) (New) Promissory Note Eurobond2) Eurobond2) Lease liabilities 468.0 449.8 ./. Cash and cash equiv
Slide 13: Outlook
Q1 2024 Results 1. Highlights Q1 2024 Presentation 2. Financial performance Q1 2024 3. Outlook 4. Appendix
Slide 14: Outlook 2024: Well positioned in a continuously challenging environment
Outlook 2024: Well positioned in a continuously challenging environment Operating EBITA Brenntag expects operating EBITA for 2024 at the lower end of the guidance provided in Guidance March 2024 (op. EBITA of EUR 1.23 billion to 1.43 billion) Forecast takes into account the contributions to earn
Slide 15: Thank you for your attention!
Thank you for your attention! We are happy to answer your questions! Dr. Christian Kohlpaintner Dr. Kristin Neumann CEO CFO 15
Slide 16: Appendix
Q1 2024 Results 1. Highlights Q1 2024 Presentation 2. Financial performance Q1 2024 3. Outlook 4. Appendix
Slide 17: Financials Q1 2024: Segments
Financials Q1 2024: Segments Operating EBITA in EUR m Operating Gross Profit1) Operating EBITA2) conversion ratio ∆ FX ∆ FX Q1 2024 Q1 2023 ∆ adjusted Q1 2024 Q1 2023 ∆ adjusted Q1 2024 Q1 2023 Specialties Life Science 200.2 219.9 -9.0% -6.3% 80.3 102.5 -21.7% -19.4% 40.1% 46.6% Specialties Material
Slide 18: Financials Q1 2024: Cash flow statement
Financials Q1 2024: Cash flow statement in EUR m Q1 2024 Q1 2023 Profit after tax 143.7 217.1 Effect from IAS 29 on profit/loss after tax 1.0 2.7 Depreciation & amortization 94.5 93.0 Income tax expense 61.3 79.8 Income taxes paid -52.6 -36.9 Net interest expense 24.9 27.2 Interest paid (netted agai
Slide 19: Financials Q1 2024: Cash flow statement (continued)
Financials Q1 2024: Cash flow statement (continued) in EUR m Q1 2024 Q1 2023 Proceeds from the disposal of consolidated subsidiaries and other business units less costs to sell - - Proceeds from the disposal of other financial assets - - Proceeds from the disposal of intangible assets and property,
Slide 20: Financials Q1 2024: Working capital
Financials Q1 2024: Working capital in EUR m 31 Mar 2024 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023 Inventories 1,422.6 1,376.4 1,459.8 1,547.6 1,661.8 + Trade receivables 2,480.2 2,263.1 2,481.0 2,519.4 2,693.1 ./. Trade payables 1,819.8 1,633.7 1,716.7 1,744.7 1,902.0 Working capital (end of
Slide 21: Financial calendar / contact
Financial calendar / contact Financial calendar Contact Follow us: May 23, 2024 August 13, 2024 Brenntag SE Annual General Half-Year Financial Corporate Investor Relations Meeting 2024 Report 2024 Phone: +49 (0) 201 6496 2100 Fax: +49 (0) 201 6496 2003 November 12, 2024 Quarterly Statement E-mail: i
Slide 22: 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