FRANKFURT (Dow Jones)–The chemicals trader Brenntag returned to growth in the fourth quarter, but still struggled to achieve its own annual target for 2023 as a whole. As the DAX group announced, operating EBITA fell by 13.1 percent to 1.265 billion euros compared to the previous year, but was still the second-best result in the company’s history. Analysts had forecast an average operating EBITA of 1.281 billion euros. Brenntag itself had expected an operating EBITA around the lower end of the forecast range of 1.3 and 1.4 billion euros, which was lowered in August.
For the current year, Brenntag is aiming for an operating EBITA of between 1.23 and 1.43 billion euros. Brenntag expects that the sequential recovery in sales volumes seen over the course of 2023 will continue this year.
Shareholders are to receive a higher dividend of EUR 2.10 per share for 2023, compared to EUR 2.00 in the previous year. This would be the 13th dividend increase in a row.
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DJG/brb/kla
(END) Dow Jones Newswires
March 07, 2024 01:27 ET (06:27 GMT)
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