Brenntag : Higher margins to continue
>4Q20 operating EBITDA 8% above consensus - On 10 March, Brenntag reported 4Q20 results that were significantly above market expectations. Operating EBITDA of € 254m was up 9% yoy, 8% above consensus (Infront) and 9% above our forecast. This was mainly driven by a higher operating gross profit margin, which was up 230bps yoy and 40bps above consensus at 24.3%All segments above our forecasts except Latin America - EMEA operating EBITDA of € 110m was up...Brenntag is a chemical distributor. Co. provides its customers and suppliers a range of services and global supply chain management as well as a chemical distribution network in Europe, North and Latin America as well as in the Asia Pacific region. Co. manages its business through its regionally structured segments in Europe, North America, Latin America and Asia Pacific. Co. provides a range of products as well as services such as just-in-time delivery, product mixing, blending, repackaging, inventory management, drum return handling as well as technical and laboratory services for specialty chemicals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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