Brenntag : Q4 op. EBITA -5% vs consensus but record OpFCF of € 1.7bn; recovery outlook in line. Solid.
>Op. EBITA turnaround in Q4, up 12% y-o-y adj. for FX to € 285m, -5% below cons of € 301m - Op. EBITA turned around in Q4 after three quarters of y-o-y decline to € 285m, 5% below consensus expectations of € 301m, showing a 12% FX-adjusted recovery fuelled by the two segments, Specialties (+4%) and Essentials (+10% FX adj. y-o-y). Op. EBITA was slightly down q-o-q compared to Q3 2023, which reported € 295m op. EBITA with stable Essentials and cost contingency measure...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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