Brenntag SE (XTER:BNR)
€ 61.08 -0.5 (-0.81%) Market Cap: 8.82 Bil Enterprise Value: 8.63 Bil PE Ratio: 16.42 PB Ratio: 2.03 GF Score: 83/100
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Q3 2019 Brenntag AG Earnings Call Transcript

Nov 06, 2019 / 01:00PM GMT
Release Date Price: €47.27 (+4.51%)
Operator

Dear, ladies and gentlemen, welcome to the Q3 2019 results Call of Brenntag AG. At our customer's request, this conference will be recorded. (Operator Instructions) May I now hand you over to Steve Holland, who will lead you through this conference. Please go ahead.

Steven E. Holland
Brenntag AG - Chairman of Board of Management & CEO

Thank you, and good afternoon, everybody. Welcome to our call. As you know, I'm here; my CFO, Georg Müller, and this indeed is my last call as CEO, as I step down at Christmas.

Let me start with the highlights of the quarter. Our operating gross profit rose by 3.9% to EUR 722.2 million on a constant FX basis. I'd like to note that our newly established Food & Nutrition organization contributed well in the third quarter, the gross profit growth was mid-single digit, which was clearly above the organic development of the group. We operate in quite a difficult economic environment at the moment, with soft demand, kept our operating EBITDA stable against last year's Q3, which is on a constant FX rate and on a frozen

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