Slide 1: FY 2023 Results
FY 2023 Results Brenntag SE March 7, 2024
Slide 2: FY 2023 Results Presentation
FY 2023 Results 1. Highlights FY 2023 Presentation 2. Financial performance FY 2023 3. Outlook 4. Appendix
Slide 3: Highlights FY 2023
Highlights FY 2023 SALES OPERATING GROSS OPERATING EBITA FREE CASH FLOW PROFIT EUR 16.8 bn EUR 4.0 bn EUR 1.3 bn EUR 1.7 bn - 11.0% vs. PY (fx adj.) -3.7% vs. PY (fx adj.) - 13.1% vs. PY (fx adj.) +70.3% vs. 2022 EPS DPS proposal to AGM SHARE BUYBACK OUTLOOK FY 2024 EUR 4.73 EUR 2.10 1st & 2nd tranc
Slide 4: Brenntag continued to manage challenging macroeconomic conditions well in 2023
Brenntag continued to manage challenging macroeconomic conditions well in 2023 Global market dynamics characterized by various, Brenntag results emphasize resilience of the cumulating factors chemical distribution business model Ongoing geopolitical uncertainties and inflationary trends Benefits
Slide 5: Brenntag continued to successfully execute its M&A strategy
Brenntag continued to successfully execute its M&A strategy Acquisitions signed or closed in 2023 Essentials Specialty (Life Science) EUR ~570 million EV spent on 8 deals (signed or closed) with 3 5 focus on Specialty Life Science EMEA and Essentials targets North M&A remains a key strategic America
Slide 6: FY 2023 Results Presentation
FY 2023 Results 1. Highlights FY 2023 Presentation 2. Financial performance FY 2023 3. Outlook 4. Appendix
Slide 7: Financials FY 2023: Operating EBITA bridges
Financials FY 2023: Operating EBITA bridges1) Operating EBITA growth Segment – Operating EBITA growth in EUR m in EUR m - 13% - 22% - 5% - 13% 8 -56 -37 10 -158 -201 2 -20 1,512 1,512 2 -44 1,265 1,265 FY 2022 FX translation M&A Organic FY 2023 FY 2022 Brenntag Brenntag All other FY 2023 contributio
Slide 8: Financials FY 2023: Brenntag Specialties
Financials FY 2023: Brenntag Specialties Operating EBITA growth vs. PY 1) Results affected by negative volume developments in combination with falling sales prices Op. Gross Profit of EUR 1.5 billion, a decrease of 8.2% vs. PY AMERICAS EMEA Op. EBITDA of EUR 595 million, a decrease of 19.7% vs. PY -
Slide 9: Financials FY 2023: Brenntag Essentials
Financials FY 2023: Brenntag Essentials Operating EBITA growth vs. PY 1) Brenntag Essentials continued to demonstrate its resilience in adverse market conditions and against a very strong year 2022 Op. Gross Profit of EUR 2.5 billion, a decline of 0.7 % vs. PY NORTH AMERICA EMEA Op. EBITDA of EUR 1.
Slide 10: Financials FY 2023: Income statement
Financials FY 2023: Income statement in EUR m FY 2023 FY 2022 ∆ ∆ FX adjusted Sales 16,815.1 19,429.3 -13.5% -11.0% Cost of materials -12,795.0 -15,110.3 -15.3% - Operating Gross Profit 4,041.8 4,319.0 -6.4% -3.7% Operating expenses -2,457.2 -2,510.4 -2.1% 0.3% Operating EBITDA 1,584.6 1,808.6 -12.4
Slide 11: Financials FY 2023: OPEX bridge
Financials FY 2023: OPEX bridge1) Operating expense development in EUR m 0.3% Positive translational FX effect in FY 2023 ~-60 M&A related increase plus DiDEX & IT investments with a ~120 combined three-digit million EUR impact on costs ~-60 ~-45 Underlying OPEX reduction despite overall cost inflat
Slide 12: Financials FY 2023: Free cash flow and ROCE
Financials FY 2023: Free cash flow and ROCE in EUR m FY 2023 FY 2022 ∆ ∆ Operating EBITDA 1,584.6 1,808.6 -224.0 -12.4% Payments to acquire intangible assets and property, plant and equipment -321.1 -267.2 -53.9 20.2% ∆ Working capital1) 608.7 -385.7 994.4 -257.8% Principal and interest payments on
Slide 13: Financials FY 2023: Balance sheet and maturity profile
Financials FY 2023: Balance sheet and maturity profile in EUR m 31 Dec 2023 31 Dec 2022 in EUR m Eurobond & SSD & Financial liabilities 2,313.9 2,661.5 Eurobond & SSD ESG-linked Synd. Loan1) Lease liabilities 449.8 434.3 ./. Cash and cash equivalents -576.9 -1,046.1 725 SSD 659 Net Debt 2,186.8 2,04
Slide 14: FY 2023 Results Presentation
FY 2023 Results 1. Highlights FY 2023 Presentation 2. Financial performance FY 2023 3. Outlook 4. Appendix
Slide 15: 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 to be in the range of EUR 1.23 billion to 1.43 billion Guidance Forecast takes into account the contributions to earnings from acquisitions already closed and Comment
Slide 16: 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 16
Slide 17: FY 2023 Results Presentation
FY 2023 Results 1. Highlights FY 2023 Presentation 2. Financial performance FY 2023 3. Outlook 4. Appendix
Slide 18: Financials FY 2023: Segments (1/2)
Financials FY 2023: Segments (1/2) in EUR m Operating Gross Profit1) Operating EBITDA2) Conversion ratio ∆ FX ∆ FX FY 2023 FY 2022 ∆ adjusted FY 2023 FY 2022 ∆ adjusted FY 2023 FY 2022 Brenntag Specialties 1,479.6 1,678.3 -11.8% -8.2% 595.1 779.6 -23.7% -19.7% 40.2% 46.5% Brenntag Essentials 2,533.5
Slide 19: Financials FY 2023: Segments (2/2)
Financials FY 2023: Segments (2/2) in EUR m Operating Gross Profit1) Operating EBITA2) Conversion ratio ∆ FX ∆ FX FY 2023 FY 2022 ∆ adjusted FY 2023 FY 2022 ∆ adjusted FY 2023 FY 2022 Specialties EMEA 667.6 725.0 -7.9% -3.6% 256.1 323.9 -20.9% -15.2% 38.4% 44.7% Specialties Americas 558.7 664.3 -15.
Slide 20: Financials FY 2023: Cash flow statement
Financials FY 2023: Cash flow statement in EUR m FY 2023 FY 2022 Profit after tax 721.1 902.5 Effect from IAS 29 on profit/loss after tax 16.0 16.3 Depreciation & amortization 388.0 406.4 Income tax expense 281.7 332.4 Income taxes paid -249.1 -344.9 Net interest expense 103.9 92.1 Interest paid (ne
Slide 21: Financials FY 2023: Cash flow statement (continued)
Financials FY 2023: Cash flow statement (continued) in EUR m FY 2023 FY 2022 Proceeds from the disposal of consolidated subsidiaries and other business units less costs to sell 8.1 - Proceeds from the disposal of other financial assets 0.4 0.8 Proceeds from the disposal of intangible assets and prop
Slide 22: Financials FY 2023: Working capital
Financials FY 2023: Working capital in EUR m 31 Dec 2023 30 Sep 2023 30 Jun 2023 31 Mar 2023 31 Dec 2022 Inventories 1,376.4 1,459.8 1,547.6 1,661.8 1,773.8 + Trade receivables 2,263.1 2,481.0 2,519.4 2,693.1 2,676.8 ./. Trade payables 1,633.7 1,716.7 1,744.7 1,902.0 1,862.0 Working capital (end of
Slide 23: Financials Q4 2023: Operating EBITA bridges
Financials Q4 2023: Operating EBITA bridges1) Operating EBITA growth Segment – Operating EBITA growth in EUR m in EUR m +12% +4% +8% +12% 11 3 28 2 15 -17 -12 -6 0 3 285 285 272 272 Q4 2022 FX translation M&A Organic Q4 2023 Q4 2023 Brenntag Brenntag All other Q4 2023 contribution growth Specialties
Slide 24: Financials Q4 2023: Income statement
Financials Q4 2023: Income statement in EUR m Q4 2023 Q4 2022 ∆ ∆ FX adjusted Sales 3,943.1 4,734.5 -16.7% -13.2% Cost of materials -2,968.3 -3,704.3 -19.9% - Operating Gross Profit 974.8 1,030.2 -5.4% -1.2% Operating expenses -601.2 -678.1 -11.3% -8.1% Operating EBITDA 373.6 352.1 6.1% 12.3% Deprec
Slide 25: Financials Q4 2023: Segments (1/2)
Financials Q4 2023: Segments (1/2) in EUR m Operating Gross Profit1) Operating EBITDA2) Conversion ratio ∆ FX ∆ FX Q4 2023 Q4 2022 ∆ adjusted Q4 2023 Q4 2022 ∆ adjusted Q4 2023 Q4 2022 Brenntag Specialties 345.6 370.7 -6.8% -0.2% 129.0 136.7 -5.6% 4.3% 37.3% 36.9% Brenntag Essentials 624.2 653.8 -4.
Slide 26: Financials Q4 2023: Segments (2/2)
Financials Q4 2023: Segments (2/2) in EUR m Operating Gross Profit1) Operating EBITA2) Conversion Ratio ∆ FX ∆ FX Q4 2023 Q4 2022 ∆ adjusted Q4 2023 Q4 2022 ∆ adjusted Q4 2023 Q4 2022 Specialties EMEA 148.6 158.0 -5.9% 2.8% 51.3 48.6 5.6% 23.6% 34.5% 30.8% Specialties Americas 135.5 148.5 -8.8% -3.9
Slide 27: Financials Q4 2023: Cash flow statement
Financials Q4 2023: Cash flow statement in EUR m Q4 2023 Q4 2022 Profit after tax 137.3 105.6 Effect from IAS 29 on profit/loss after tax 1.5 7.4 Depreciation & amortization 103.4 137.8 Income tax expense 70.9 42.3 Income taxes paid -36.3 -85.5 Net interest expense 26.5 27.3 Interest paid (netted ag
Slide 28: Financials Q4 2023: Cash flow statement (continued)
Financials Q4 2023: Cash flow statement (continued) in EUR m Q4 2023 Q4 2022 Proceeds from the disposal of other financial assets 8.1 - Proceeds from the disposal of other financial assets 0.2 0.2 Proceeds from the disposal of intangible assets and property, plant and equipment 20.8 3.4 Payments to
Slide 29: Financials Q4 2023: Free cash flow
Financials Q4 2023: Free cash flow in EUR m Q4 2023 Q4 2022 ∆ ∆ Operating EBITDA 373.6 352.1 21.5 6.1% Payments to acquire intangible assets and property, plant and equipment -159.8 -118.4 -41.4 35.0% ∆ Working capital1) 221.0 261.8 -40.8 -15.6% Principal and interest payments on lease liabilities -
Slide 30: Financial calendar / contact
Financial calendar / contact Financial calendar Contact Follow us: May 14, 2024 May 23, 2024 Brenntag SE Quarterly Statement Annual General Corporate Investor Relations Q1 2024 Meeting 2024 Phone: +49 (0) 201 6496 2100 Fax: +49 (0) 201 6496 2003 August 13, 2024 November 12, 2024 Half-Year Financial
Slide 31: 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