Brenntag Q2 2026: Key Financial Highlights and Performance

• Sales rose 11% to EUR 4.3 billion, operating gross profit increased 19% to EUR 1,146 million, and operating EBITDA grew 41% to EUR 463 million. Gross margin reached 26.9%, with EUR 41 million in cost savings.

• Sales focus and organisational simplification are driving customer growth and expanding key accounts.

• Full-year 2026 operating EBITDA guidance raised to EUR 1.35–1.45 billion.

Brenntag SE reported its Q2 2026 financial results amid supply chain pressures and higher chemical prices driven by the Middle East conflict. The company leveraged its global network, supply chain capabilities, and commercial discipline to ensure reliable customer supply while maintaining focus on its strategic priorities.

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.”

Thomas Reisten, Chief Financial Officer 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. We 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.”

Progress on Key Priorities

Brenntag continued to advance its strategic priorities through commercial initiatives and organisational simplification. North America expanded and reactivated customer accounts, APAC benefited from strategic sourcing, and we further deployed AI tools to enhance pricing and customer insights.

M&A

Brenntag’s acquisition of South Korean speciality distributor Woojin Trading strengthens its Beauty & Personal Care presence and supports its bolt-on acquisition strategy. The transaction is expected to close in Q4 2026, subject to regulatory approvals.

Outlook 2026

Brenntag raised its full-year 2026 operating EBITDA guidance to EUR 1.35–1.45 billion, supported by solid year-to-date performance and positive pricing trends. Despite continued macroeconomic uncertainty, the company remains focused on growth and will provide a strategic update at its Capital Markets Day on 12 November 2026.

Source: Brenntag