Brenntag Se · XETR:BNR
Brenntag — Q2 2025 Earnings Presentation
23 slides from Brenntag's earnings presentation, 2025
Slide 1: Brenntag
2 BRENNTAG
Slide 2: Highlights Q2 2025
Highlights Q2 2025 SALES EUR 3.9 bn -4.1% vs. PY (fx adj.) EPS EUR 0.30 Impacted by special items and one-time non-operating effects OPERATING GROSS PROFIT EUR 974m -1,9% vs. PY (Fx adj.) BUSINESS ENVIRONMENT High economic & geo- political uncertainty Impacting business sentiment OPERATING EBITA EUR
Slide 3: Q2 2025 Strategy update and economic environment
Q2 2025 Strategy update and economic environment a Economic environment > Muted customer sentiment leading to overall slowdown in demand > High degree of economic uncertainty driven by geopolitical tensions and unresolved global tariff discussions v A v Strategy update Focus on leveraging business o
Slide 4: Development of selected Income statement figures
Financials Q2 2025: Development of selected Income statement figures Sales ~4.1% Q2 2024 InEURm Q2 2025 Operating Gross Profit Operating expenses 3.3% =A Ey] --30 joc Organic OPEX Bg -_ ao Q2 2024 M&A FX Underl. OPEX Q22025 In EURm OPEX cost-out Operating EBITDA/EBITA “1.9% 10.4% 13.9% 386 _ 974 297
Slide 5: Operating EBITA bridges
Financials Q2 2025: Operating EBITA bridges” Operating EBITA growth in EURm 13.9% 2 -46 _[ | Q2 2024 FX translation M&A Organic Q2 2025 contribution growth FX translation As HI M&A contribution Operating EBITA growth by division inEURm -13.9% = -11.2% -13.1% DS =7 1 Q2 2024 Brenntag Brenntag Group a
Slide 6: Brenntag Specialties and Brenntag Essentials
Financials Q2 2025: Brenntag Specialties and Brenntag Essentials Operating EBITA growth vs. PY NORTH AMERICA EMEA -11.3% -17.3% LATIN AMERICA APAC +58.6% -55.2% Specialties Material Science -16.9% Global end markets Electronics Positive volume developments in EMEA, Latin America and APAC. North Amer
Slide 7: Free cash flow
Financials Q2 2025: Free cash flow in EURm Q2 2025 Payments to acquire intangible assets and property, plant and equipment -66.0 A Working capita -73.4 Principal and interest payments on lease liabilities -41.,7 Free cash flow 162.9 Working capital turnover (annualized)?) 74x Based on average fx. ra
Slide 8: Outlook 2025
Outlook 2025 Operating EBITA FX impact Tax rate: CAPEX | Comments FY 2025 Outlook EUR 950 million to EUR 1,050 million” Average FY 2025 EUR/USD: ~1.13 (2024: ~1.08) Sensitivity (FY basis): Delta of EUR/USD +/- 1 cent = EUR ~ -/+ 5-7m operating EBITA Tax rate: 35-37% due to one-time effects in 2025.
Slide 9: Brenntag
P, BRENNTAG
Slide 10: Income statement
Financials Q2 2025: Income statement in EURMm f 2.2025 | Q22024 nN AFX adjusted Sales 3,869.4 4,176.3 -7.3% 4.1% Cost of materials -2,895.1 -3,147.2 -8.0% - 974.3 1,027.9 5.2% -1.9% Operating expenses -640.3 -641.9 -0.2% 3.3% 334.0 386.0 -13.5% -10.4% Depreciation -87.6 -88.9 -1.5% 1.5% 246.4 297.4
Slide 11: Segments
Financials Q2 2025: Segments inEURm Operating Gross Profit? Specialties Life Science 196.9 Specialties Material Science 78.5 Specialties Other 2.8 Essentials EMEA 241.1 Essentials North America 369.2 Essentials Latin America 46.8 Essentials APAC 36.2 Essentials Transregional 2.8 : Note: The differen
Slide 12: Cash flow statement
Financials Q2 2025: Cash flow statement Profit after tax 43.2 151.3 Effect from IAS 29 on profit/loss after tax 0.2 -0.6 Depreciation & amortization 197.2 105.9 Income tax expense 39.4 64.7 Income taxes paid -66.0 -76.1 Net interest expense 34.8 32.5 Interest paid -23.6 (thereof interest paid for le
Slide 13: Cash flow statement (continued)
Financials Q2 2025: Cash flow statement (continued) inEURe a2 2024 Proceeds from the disposal of consolidated subsidiaries and other business units less costs to sell 19.3 - Proceeds from the disposal of other financial assets Proceeds from the disposal of intangible assets and property, plant and e
Slide 14: Working capital
Financials Q2 2025: Working capital in EURm Inventories 1,479.4 + Trade receivables 2,300.4 ./. Trade payables 1,634.2 Working capital (end of pe: 2,145.6 Working capital turnover (annualized)?) 74x a 2) Based on fx. effects as of end of respective reporting period and incl. M&A 14 31 Mar 2025 1,544
Slide 15: Balance sheet and maturity profile
Financials Q2 2025: Balance sheet and maturity profile in EURm Financial liabilities 2,893.3 Lease liabilities 551.9 ./. Cash and cash equivalents 618.2 Net Debt 2,927.0 Equity 4,241.9 ENN Pet 31 Dec 2024 2,939.0 617.3 763.3 2,793.0 1.9x 4,762.0 @ 15 Operating EBITDA for the quarters calculated on L
Slide 16: Income statement 6M 2025
Financials 6M 2025: Income statement Sales Cost of materials Operating Gross Profit Operating expenses Operating EBITDA Depreciation Operating EBITA Net income / expense from sp. items EBITA Amortization and impairments EBIT Financial result EBT Profit after tax 6M 2024 8,178.9 ~6,165.1 2,012.3 -1,2
Slide 17: Segments 6M 2025
Financials 6M 2025: Segments inEURm Operating Gross Profit? Specialties Life Science 406.0 Specialties Material Science 169.7 Specialties Other 7.5 a N al ic) Brenntag Specialties Essentials EMEA 495.2 Essentials North America TAT Essentials Latin America 98.8 Essentials APAC 73.8 Essentials Transre
Slide 18: Operating EBITA bridges 6M 2025
Financials 6M 2025: Operating EBITA bridges” Operating EBITA growth Operating EBITA growth by division in EURm in EURm -7.1% -6.2% -8.6% -7.1% 2 a i: el -59 ae} =. 6M 2024 FX translation M&A Organic 6M 2025 6M 2024 Brenntag Brenntag Group and 6M 2025 contribution growth Specialties Essentials Region
Slide 19: Cash flow statement 6M 2025
Financials 6M 2025: Cash flow statement in EURm 6M 2024 Profit after tax 295.0 Effect from IAS 29 on profit/loss after tax 0.4 Depreciation & amortization 200.4 Income tax expense 126.0 Income taxes paid -127.7 Net interest expense 87.4 Interest paid -48.4 (thereof interest paid for leases) (-10.4)
Slide 20: Cash flow statement (continued) 6M 2025
Financials 6M 2025: Cash flow statement (continued) in EURm 6M 2024 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, plant and equ
Slide 21: Free cash flow 6M 2025
Financials 6M 2025: Free cash flow Payments to acquire intangible assets and property, plant and equipment -126.3 A Working capita -157.4 Principal and interest payments on lease liabilities -89.4 Free cash flow 316.2 @) 21 »Based on average fx rate excl. M&A 6M 2024 727.6 -146.8 -160.8 -87.2 332.8
Slide 22: Financial calendar / contact
Financial calendar / contact Financial calendar Contact Follow us: in| November 12, 2025 March 12, 2026 Brenntag SE Quarterly Statement Annual Report Corporate Investor Relations Q3 2025 FY 2025 Phone: +49 (0) 201 6496 2100 Fax: +49 (0) 201 6496 2003 May 13, 2026 May 20, 2026 Quarterly Statement Ann
Slide 23: 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