Brenntag has released its financial results for the third-quarter 2023 broadly in line with expectations. The business of Brenntag Specialties was again affected by negative volume developments and price pressure. Both divisions observed a sequential improvement in demand in the course of the third-quarter that is expected to continue in the fourth-quarter.
Christian Kohlpaintner, CEO of Brenntag SE, said “The macroeconomic environment continued to be challenging in the third-quarter with ongoing geopolitical uncertainties and inflationary trends that impacted our performance. We saw a mixed picture across divisions and regions but also observed market conditions continue to normalize with sequential volumes moderately increasing as it has been anticipated for the second half of 2023. This modest volume recovery and our overall solid third-quarter performance provides a rather stable basis for the remainder of the year despite slightly softening pricing levels. We expect our operating EBITA for the financial year 2023 to now be around the lower end of our guidance specified in August 2023. We thank our employees who made these results happen against numerous headwinds.”