DGAP-Ad-hoc: Brenntag AG / Key word(s): Forecast
Essen, 15 September 2020
The Board of Management of Brenntag AG (ISIN: DE000A1DAHH0) has dealt with the outlook for the current financial year at its meeting today and is now publishing a new forecast for financial year 2020. The original forecast published in the 2019 annual report was suspended in April of this year due to the considerable uncertainty associated with the COVID-19 pandemic.
Despite the impact of the COVID-19 pandemic on general economic performance, the Group achieved sound earnings growth in the first half of 2020. Brenntag has thus once again demonstrated the resilience of its business model.
Current business performance is in line with the Board of Management's expectations. With operating EBITDA in July and August 2020 slightly above the prior-year figure on a constant currency basis, the Group now expects operating EBITDA for financial year 2020 to be between EUR 1,000 million and EUR 1,040 million (financial year 2019: EUR 1,001.5 million).
The new forecast assumes that there will be no further significant government measures to contain the pandemic and related negative effects on the economy. Furthermore, this forecast does not envisage any special items or significant changes in current exchange rates in the further course of the year. It includes the contributions to earnings from acquisitions.
The measures already taken by Brenntag to protect employees, business processes and business partners continue to be implemented.
The full interim report for the third quarter of 2020 will be published on November 4, 2020 as scheduled.
15-Sep-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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|EQS News ID:||1132121|
|End of Announcement||DGAP News Service|
1132121 15-Sep-2020 CET/CEST