Earnings release
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Press Release B BRENNTAG Essen , Germany , August 12 , 2026 Brenntag delivers strong Q2 2026 results , reflecting structural improvements and disciplined execution in favourable market conditions • • • Sales of EUR 4.3 billion ( +11 % ** ) ; Operating Gross Profit of EUR 1,146 million ( +19 % ** ) ; Operating EBITDA of EUR 463 million ( +41 % ** ) ; Gross margin increase to 26.9 % ( + 1.7pp ) ; EUR 41 million in cost - out savings in Q2 2026 Sales focus and organisational simplification yield tangible results with increased customer figures and expanded key account scopes Operating EBITDA guidance raised to range of 1,350 million - 1,450 million EUR for the full year 2026 Brenntag SE ( ISIN DE000A1DAHH0 ) , the global market leader in chemicals and ingredients distribution , today published its financial results for the second quarter of 2026. The conflict in the Middle East drove global supply chain pressure and higher pricing across chemicals markets . In this environment , Brenntag leveraged its global network , supply chain capabilities and commercial discipline to maintain reliable customer supply , while continuing disciplined execution of its key priorities and delivering tangible results . Jens Birgersson , Chief Executive Officer of Brenntag SE : " The second quarter demonstrated the strength of our business model and our more agile organization . As the conflict in the Middle East affects global chemical markets , our teams kept supply flowing and supported our customers without interruption . While performance in the first quarter 2026 was primarily driven by market volatility , a proof point of our resilient business model , our Q2 results now reflect the growing impact of our own commercial execution , improved customer penetration , pricing discipline , cost reductions and commercial excellence rather than market volatility alone . While visibility remains limited and macroeconomic uncertainty persists , we are increasingly confident in the direction of the business , which is also reflected in our guidance increase . We remain focused on operational discipline , commercial agility , and protecting profitability as visibility evolves . " Financial performance In the second quarter of 2026 , Brenntag generated sales of EUR 4.3 billion , up 11 % year- on - year . Operating gross profit reached EUR 1,146 million ( +19 % ** ) , and the gross margin expanded 1.7 percentage points to 26.9 % . Operating EBITDA reached EUR 463 million ( +41 % ** ) , benefiting from higher chemical pricing while volumes remained stable . The ongoing cost - out program contributed EUR Brenntag SE Messeallee 11 45131 Essen P.O. Box 10 04 61 45004 Essen Germany Phone +49 201 64960 Fax +49 201 64961010 www.brenntag.com Registered Domicile : Essen District Court : Essen HRB 31943 Board of Management : Jens Birgersson , Chief Executive Officer Thomas Reisten , Chief Financial Officer Supervisory Board Chairman : Richard Ridinger
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2 41 million in savings during the quarter versus the 2025 baseline. Free Cash Flow was EUR 4 mi llion (Q2 2025: EUR 15 4 million). This decline was technical in nature, reflecting higher working capital requirements from strong sales growth and the revaluation of inventory at higher prices, rather than any increase in underlying inventory volumes. Net working capital turnov er improved to 7.5x. Thomas Reisten, C hief F inancial O fficer of Brenntag SE : “ Our cost - out program contributed EUR 41 million in savings during the quarter and is tracking in line with our full - year targets . W e remain on course to deliver EUR 200 - 250 million in savings by 2027 despite temporary headwinds from higher transport and energy costs as well as bonus provisions. Free Cash Flow was temporarily impacted by higher working capital in the elevated pricing environment, which we continue to manage actively . At the same time , we improved net working capital turnover to 7.5x, confirming that working capital efficiency is moving in the right direction. Brenntag's financial position remains robust, providing the operational and financial flexibility to pursue disciplined, value - accretive bolt - on M&A and to execute on our key priorities. Based on the strong performance year - to - date, we have increased our operating EBITDA outlook to a range of 1,350 million – 1,450 million EUR for the full year 2026 . ” Divisional performance Brenntag Essentials reported operating gross profit of EUR 836 million (+23 .1 %**), with gross margins expanding to 28.5% (+2.2 pp). As pricing rose across regions, North America and EMEA capitalized on unified pricing strategies and stocking decisions, while APAC passed on rising transportation costs as chemical prices adjusted acr oss markets and industries. Latin America also delivered strong results. Brenntag Specialties reported operating gross profit of EUR 31 0 million (+ 8.8 %**), with gross margins improving to 23.4% (+0.6 pp). Although the Middle East conflict affected Specialties less, all business units converted market opportunities into organic EBITDA growth. Especially Beauty & Personal Care and Material Science delivered strong results globally, while expanding partnerships with key principals across product groups and regions i n both Life Science and Material Science . Progress on key priorities Brenntag continues to make progress on its key priorities, with commercial initiatives and organisational simplification increasingly supporting operational performance across the Group. North America captured or reactivated hundreds of customer accounts a nd enabled industry - focused sales teams to offer Brenntag's full portfolio. Strategic sourcing
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3 delivered supply advantages in APAC, and the rollout of further commercial AI applications continued for pricing and customer insights . M&A The recently announced acquisition of Woojin Trading, a South Korean specialty distributor of beauty and personal care ingredients, continues Brenntag's growth strategy of bolt - on acquisitions in key markets and expands its presence in South Korea's growin g beauty and personal care market. Closing is subject to customary conditions and regulatory approvals and is expected in Q4 2026. Outlook 2026 Brenntag raises its full - year 2026 operating EBITDA outlook to the range of EUR 1, 3 50 million to EUR 1,4 5 0 million, based on solid year - to - date performance and a good start to the third quarter supported by recent positive pricing dynamics. Brenntag continues to monitor macroeconomic developments, as risks of demand weakness remain. The company will present a comprehensive update on its medium - term strategy, operating model evolution and long - term value creation framework at its Capital Markets Day on 12 November 2026.
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4 Financial Results at a glance – Q 2 /2026 (in EUR m) Q 2 202 6 Q 2 202 5 ∆ as reported ∆ fx adjusted Brenntag Group Sales 4,263 3,869 10.2% 11.1% Operating gross profit** 1,146 974 17.7% 18.9% Operating gross profit margin 26.9% 25.2% Operating EBITDA*** 463 334 38. 8 % 40 . 9 % Operating EBITDA / Operating gross Profit 40.4% 34.3% Operating EBITA*** 3 68 246 49 . 5 % 5 2 . 1 % Profit before tax 262 8 2 Profit after tax 182 43 Attributable to Brenntag shareholders 179 4 2 Earnings per share (in EUR) 1.23 0.30 Free cash flow 4 15 4 Jun . 3 0 , 2026 Dec . 31, 202 5 Working capital 2,41 2 1,893 Net financial liabilities 3 , 100 2, 528 (in EUR m) Q 2 2026 Q 2 2025 Brenntag Specialties Sales 1,327 1,253 5.9% 6.1% Operating gross profit * 310 286 8.4% 8.8% Operating EBITDA *** 130 111 17.6% 18.3% Operating EBITA *** 121 103 18.1% 18.8% Brenntag Essentials Sales 2,936 2,616 12.2% 13.4% Operating gross profit * 836 688 21.5% 23.1% Operating EBITDA *** 362 250 44.6% 47.2% Operating EBITA *** 2 78 172 60.6% 64 . 0 % Group and Regional Services **** Operating EBITDA *** - 2 9 - 27 6 .3% 2.9% Operating EBITA *** - 3 1 - 29 5 . 6 % 2.5%
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5 *Operating gross profit is defined as sales less cost of goods sold. **Unless indicated otherwise, growth rates are on a constant currency basis. ***Brenntag presents operating EBITA / EBITDA before holding charges and special items. Holding charges are certain costs charged between holding companies and operating companies. At Group level, these effects net to zero. Brenntag is also adjusting operating EBITA / EBITDA for income and expenses arising from special items so as to improve comparability in presenting the performance of its busine ss operations over multiple reporting periods and explain it more appropriately. Special items are income and expenses outside o rdinary activities that have a special and material effect on the results of operations, such as restructurings. ****Group and Regional Services mainly include the central functions for the entire Group, the regional service functions and the activities with regard to the digitalization of Brenntag’s business. About Brenntag: Brenntag is the global market leader in chemicals and ingredients distribution. The company holds a central role in connecting customers and suppliers of the chemical industry. Headquartered in Essen, Germany, Brenntag has more than 17, 0 00 employees worldwide and operates a network of around 600 sites in more than 70 countries. In 202 5 , Brenntag generated sales of 1 5 .2 billion EUR. The two global divisions, Brenntag Essentials and Brenntag Specialties, provide a diversified and broad portfolio of industrial and specialty chemicals and ingredients as well as tailor - made application, marketing and supply chain solutions , technical and formulation support, comprehensive regulatory know - how, and digital solutions for a wide range of industries. Brenntag pursues an ambitious sustainability agenda and is committed to sustainable solutions in its own sector and the industries served. Brenntag shares have been li sted at the Frankfurt Stock Exchange since 2010, in the DAX since September 2021. In addition, the Brenntag SE shares are listed in the DAX 30 ESG and DAX ESG Target. For more information, visit www.brenntag.com . Media Contact Investor Relations Robert Reitze André Simon Brenntag SE Brenntag SE Global Communications Investor Relations Telephone: +49 (201) 6496 - 2128 Telephone: +49 (201) 6496 - 1 824 E - Mail: global.communications@brenntag.com IR@brenntag.com