Brenntag : CMD preview – more details on ‘Specialties’ steering model; no ‘breaking news’; headroom for another share buyback
>Confirmation of mid-term targets expected - Brenntag will host its CMD on 5 December in London. We expect management to confirm mid-term targets outlined at last year’s CMD in November 2022, when the company for the first time presented dedicated mid-term targets for ‘Essentials’ and ‘Specialties’ segments out to 2026. This included also organic op. EBITA growth target CAGR 2021-2026 of 6-8% based on € 1,082m reported in 2021. We project 6.4% p.a. including (!) M&A ...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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