Brenntag SE — Investor Presentation 2015

Aug 6, 2015

Q2 2015

▌6 August 2015

Conference call on Q2 2015 resultsCorporate Finance & Investor Relations

Q2 2015 PresentationAGENDA

▌Highlights Q2 2015

▌Financials Q2 2015

▌Outlook

▌Appendix

Introductory remarks to Q2 2015 earningsHIGHLIGHTS Q2 2015

M a c r o E c o n o m y	f E d N h A i i i l b i l d h b t t t r o p e a n a n o r m e r c a n e c o n o m e s a r e g r o n g a e a s o o n o g r o c a n e u w w w w G L i A i i h d i h b l b l i A i t t t t. t s e e n. a n m e r c a w a m o e s e n v r o n m e n r o w a o v e g o a a v e r a g e n s a P i f i a c c.
G f i t r o s s p r o	G f i f E U R i ( f d j d ). 5 8 5 3 1 6 5 % 4 3 % t t t r o s s p r o o m g r o w n g a x a u s e
O i t p e r a n g E B I T D A	O i E B I T D A f E U R 2 1 4 i 2 0 % ( 6 % f d j d ). t 5 t 7 7 t p e r a n g o m g r o n g a a s e w x u
S E P	E i S h f E U R i 0 6 9 3 0 2 % t a r n n g s p e r a r e o g r o n g a w
M t a n a g e m e n B d o a r	G E i f M B d f 3 b f l i h f h t t 5 t t t p a n s o n o a n a g e m e n o a r r o m o m e m e r s r e e c n g g r o o e r o p. x w u f A i K B k M k K l ä h d H i N j d t t t p p o n m e n o a r s e n e c m a n n, a r s n a n e n r e a e u
A i i i t c q u s o n s	A i i i f Q i i M ñ i S i t c q u s o n o u m c a s e r o o n p a n.

Board of ManagementHIGHLIGHTS Q2 2015

Steven Holland, CEO

Region Latin America, Corp. Communications, Development, HR, HSE, Internal Audit & Compliance, M&A

Georg Müller, CFOCorp. Accounting, Controlling, Finance & IR, IT, Legal, Risk Management, Tax, Brenntag International Chemicals

Karsten BeckmannRegion Europe incl. Middle East & Africa, Global Accounts

Markus KlähnRegion North America

Henri NejadeRegion Asia Pacific, Global Sourcing

Acquisition in SpainHIGHLIGHTS Q2 2015

Quimicas Meroño, S.L., Spain

• Sales of around EUR 12.7m, Gross Profit of EUR 3.6m and EBITDA of EUR 1.7m in 2014.
• Investment amount of EUR 10.3m.
• Quimicas Meroño is a distributor of industrial chemicals.
• The acquisition
• perfectly complements Brenntag's regional distribution network in Eastern Spain
• offers additional growth opportunities in key industry sectors

Q2 2015 PresentationAGENDA

▌Highlights Q2 2015

▌Financials Q2 2015

▌Outlook

▌Appendix

Financial highlights Q2 2015HIGHLIGHTS Q2 2015

	Q 2 2 0 1 5	C t o m m e n s	C h a n g e
G f i t r o s s p r o	E U R 5 8 5. 3 m	I f ( f d j d ) 4 3 % t n c r e a s e o a s e x u f ( ) I 1 6 % d 5 t n c r e a s e o a s r e p o r e
O i t p e r a n g E B I T D A	E U R 2 1 5. 4 m	( ) I f 6 % f d j d 7 t n c r e a s e o a s e x u I f ( d ) 2 0 7 % t n c r e a s e o a s r e p o r e
O i t p e r a n g E B I T D A / G f i t r o s s p r o	3 6. 8 %	Q 2 2 0 1 4 3 % 5 5 =
F h r e e c a s f l o w	E U R 1 6 1 7. m	A i E U R i Q 1 1 2 6 2 2 0 1 4 t g a n s m n

IFRIC 21 – Retroactive adjustment of 2014 operating EBITDAFINANCIALS Q2 2015

i E U R n m	G r o u p	E u r o p e	N h t o r i A m e r c a	L i t a n i A m e r c a	A i s a i f i P a c c	A l l h t o e r t s e g m e n s
Q / 2 2 0 1 4	4 4 -	2 0 -	2 2 -	0 2 -	-	-
Q / 2 2 0 1 4	1. 8	0 7	1. 1	-	-	-
Q / 3 2 0 1 4	1. 0	0 7	0 2	0 1	-	-
Q / 4 2 0 1 4	1. 6	0 6	0 9	0 1	-	-

⁸ Full Year 2014 - - - - - - New interpretation of accounting for levies imposed by a government (IFRIC 21) are applied for the first time in 2015

• Profit & Loss Statement: timing of recognition of expenses will change
• Retroactive adjustment of 2014 results in order to ensure comparability
• Effects to be seen in the quarters – no effect on a full year basis

Income statementFINANCIALS Q2 2015

i E U R n m	Q 2 2 0 1 5	) 2 Q 2 2 0 1 4	∆	F X ∆ d j d t a s e u	2 0 1 4
S l a e s	2 6 9 1. 4 ,	2 0 1. 3 5 ,	6 % 7	2 8 % -	1 0 0 1 6 5 ,
C f d l d t o s o g o o s s o	2 1 0 6 1 - ,	1, 9 9 9 1 -	5 4 %		7 9 8 8 1 - ,
G f i t r o s s p r o	5 8 5. 3	5 0 2. 2	1 6. 5 %	4. 3 %	2, 0 2 5 7.
E x p e n s e s	3 6 9 9 -	3 2 3 5 -	1 4 3 %		1, 3 0 0 6 -
E B I T D A	2 1 5. 4	1 8. 7 7	2 0. 5 %	6. 6 %	2 6. 9 7
1 ) A d d b k i t t t a c r a n s a c o n c o s s	-	0 2 -			0 2 -
O i E B I T D A t p e r a n g	5. 2 1 4	5 1 7 8.	2 0. 7 %	6. 7 %	7 2 6. 7
O / G f E B I T D A i t p. r o s s p r o	3 6 8 %	3 % 5 5			3 8 % 5

1) Transaction costs are costs related to restructuring and refinancing under company law

Income statement (continued)FINANCIALS Q2 2015

i E U R n m	Q 5 2 2 0 1	) 4 Q 2 2 0 1 4	∆	2 0 1 4
E B I T D A	2 1 4 5	1 8 7 7	2 0 % 5	2 6 9 7
D i i t e p r e c a o n	2 7 2 -	2 4 4 -	1 1. 5 %	9 9 4 -
E B I T A	1 8 8. 2	1 5 4. 3	2 2. 0 %	6 2 5 7.
) 1 A i i t t m o r z a o n	9 8 -	8 7 -	1 2 6 %	3 5 9 -
E B I T	1 8. 4 7	1 4 5. 6	2 2. 5 %	5 9 1. 6
2 ) F i i l l t n a n c a r e s u	1 8 7 -	2 0 2 -	1 1. 9 % -	8 3 8 -
E B T	1 6 0 6	1 2 5 4	2 8 1 %	5 0 7 8
f f P i t t t r o a e r a x	1 0 8. 1	8 2. 0	3 1. 8 %	3 3 9. 7
E P S	0 6 9	0 5 3	3 0 2 %	2 2 0
S E P l. A i i d Z h t t e c m o r a o n a n o n g x z 3 ) Y l i b i l i t n g a u y	0 4 7	0 5 7	2 9 8 %	2 3 2

1) Includes scheduled amortization of customer relationships amounting to EUR 7.6m in Q2 2015 (EUR 6.9m in Q2 2014 and EUR 28.3 million in 2014).

2) Thereof EUR -0.7m in Q2 2015 (EUR -0.6m in Q2 2014) are related to a change of the purchase price obligation for Zhong Yung (International) Chemical Ltd., which has to be recorded in the income statement according to IFRS (EUR 6.1m in 2014).

3) Adjusted for the net effect of amortizations and changes in the purchase price obligation for the outstanding 49% in Zhong Yung (International) Chemical Ltd.

Cash flow statementFINANCIALS Q2 2015

i E U R n m	Q 2 2 0 1 5	) 1 Q 2 2 0 1 4	2 0 1 4
f f P i t t t r o a e r a x	1 0 8 1	8 2 0	3 3 9 7
D i i & i i t t t e p r e c a o n a m o r z a o n	3 7 0	3 3 1	1 3 5 3
I t n c o m e a e s x	2 5 5	4 3 4	1 6 8 1
I t t n c o m e a x p a y m e n s	5 6 9 -	5 3 6 -	1 6 4 8 -
I l t t t n e r e s r e s u	1 8 2	1 8 4	3 4 7
I ( ) t t t t n e r e s p a y m e n s n e	1 0 2 -	1 4 4 -	7 0 2 -
C h i d l i b i l i i t t t a n g e s n c r r e n a s s e s a n a e s u	3 3 5 -	4 9 4 -	9 0 4 -
C h i h i b l i i / I A S 3 2 t a n g e n p u r c a s e p r c e o g a o n	0 9	0 9	4 0 -
O h t e r	7 7 -	1 1. 9 -	1 7 4 -
C i i i i i h d d b t t t a s p r o v e y o p e r a n g a c v e s	1 0 6. 6	4 8. 5	3 6 9. 7

Cash flow statement (continued)FINANCIALS Q2 2015

i E U R n m	Q 2 2 0 1 5	Q 2 2 0 1 4	2 0 1 4
P h f i i b l d l & t t t t u r c a s e s o n a n g e a s s e s a n p r o p e r y, p a n ( ) i P P E t e q p m e n u	2 0 7 -	2 3 0 -	1 0 3 0 -
P h f l i d d b i d i i d h t t u r c a s e s o c o n s o a e s u s a r e s a n o e r b i i t u s n e s s u n s	1 8 8 -	5 0 6 -	8 2 0 -
O h t e r	1. 7	0 5	6 8
C h d f i i i i i t t t a s s e o r n e s n g a c e s u v v	3 8 7. -	3. 1 7 -	1 8. 2 7 -
C i l i t a p a n c r e a s e	-	-	-
P i i i h h i l i t t t t t a m e n s n c o n n e c o n e c a p a n c r e a s e y w	-	-	-
P h f h i i l d u r c a s e s o s a r e s n c o m p a n e s a r e a y l i d d t c o n s o a e	-	-	-
D i i d d i d i i h h l d t t v e n s p a o m n o r y s a r e o e r s	1. 3 -	0 9 -	1. 8 -
D i i d d i d B h h l d t t v e n s p a o r e n n a g s a r e o e r s	1 3 9 1 -	1 3 3 9 -	1 3 3 9 -
f ( ) / f ( ) ( ) R d b i t t e p a m e n o p r o c e e s r o m + o r r o n g s n e y w -	1 2 3 7 -	2 2 9	1 3 6 -
C f f i i i i i h d t t a s u s e o r n a n c n g a c v e s	2 6 4. 1 -	1 1 1. 9 -	1 4 9. 3 -
C i i h h & h l t a n g e n c a s c a s e q u v a e n s	1 9 5. 3	1 3 6. 5	4 2. 2

Balance Sheet as of June 30, 2015FINANCIALS Q2 2015

6 4 3 1 ,		6 4 3 1 ,
3 1 9
1 8 9 5 ,	C h d h a s a n c a s i l t e q u v a e n s T d i b l	1 8 9 5 ,	F i i l l i b i l i i t n a n c a a e s
3 4 2	r a e r e c e a e s v		T d b l r a e p a y a e s
9 0 0	O h t t e r a s s e s	1 1 4 9 ,	O h l i b i l i i t t e r a e s
	I i t n v e n o r e s	3 6 2 1 6 3 3 8 6	O h i i t e r p r o s o n s v
2 3 8 7 ,	) I i b l 1 t t n a n g e a s s e s		O h t e r
	P l d t t r o p e r y, p a n a n i t e q p m e n u	2 5 1 2 ,	E i t q u y
9 0 3
A t s s e s		L i b i l i i d E t a e s a n q u	i t y

1) Of the intangible assets as of June 30, 2015, some EUR 1,268 million relate to goodwill and trademarks that were capitalized as part of the purchase price allocation performed on the acquisition of the Brenntag Group by funds advised by BC Partners Limited, Bain Capital, Ltd. and subsidiaries of Goldman Sachs International at the end of the third quarter of 2006 in addition to the relevant intangible assets already existing in the previous Group structure.

in EUR m

Balance Sheet and leverageFINANCIALS Q2 2015

i E U R n m	J 5 3 0 2 0 1 u n e	M 5 3 1 2 0 1 a r	D 3 1 2 0 1 4 e c
F i i l l i b i l i i t n a n c a a e s	1, 8 9 2 5	2 0 3 2 0 ,	1, 9 0 1. 6
/. C h d h i l t a s a n c a s e q u v a e n s	3 1 9 0	5 2 5 5	4 9 1. 9
N D b t t e e	1, 4 0 2 5	1, 0 6 5 5	1, 4 0 9 7
1 ) / i N D b O E B I T D A t t t e e p e r a n g	1. 9 x	2. 0 x	1. 9 x
E i t q u y	2 5 1 1. 9 ,	2 5 6 5 7 ,	2 3 5 6 9 ,

Leverage: Net debt/Operating EBITDA1) FINANCIALS Q2 2015

1) Net debt defined as current financial liabilities plus non-current financial liabilities less (cash and cash equivalents)

2) 2009 adjusted for expense items relating to the early termination of a multi-year incentive program.

1) Syndicated loan and bond excluding accrued interest and transaction costs on the basis of end of period exchange rates.

Working capitalFINANCIALS Q2 2015

i E U R n m	3 0 J 2 0 1 5 n e u	3 1 M 2 0 1 5 a r	3 1 D 2 0 1 4 e c
I i t n v e n o r e s	8 9 9 5	9 1 3 0	8 6 5 8
T d i b l r a e r e c e a e s + v	1, 8 9 2 5	1, 6 0 9 5	1, 4 0 2 7
/. T d b l r a e p a y a e s	1, 1 4 9 0	1, 1 7 4 4	1, 0 4 6 2
W k i i l t o r n g c a p a ( d f i d ) e n o p e r o	1, 3 3 9. 7	1, 3 4 4. 5	1, 2 2 6. 8
1 ) ( ) W k i i l d t t t t o r n g c a p a r n o e r e a r- o- a e u v y	8 1 x	8 0 x	8 6 x
) 2 W k i i l ( l l h ) t t t t t o r n g c a p a u r n o v e r a s w e v e m o n s	8 2 x	8 3 x	8 6 x

1) Using sales on year-to-date basis and average working capital year-to-date.

2) Using sales on LTM basis and average LTM working capital.

Free cash flowFINANCIALS Q2 2015

i E U R n m	Q 2 2 0 1 5	1 ) Q 2 2 0 1 4	∆	∆	2 0 1 4
E B I T D A	2 1 5 4	1 7 8 7	3 6 7	2 0 5 %	7 2 6 9
C a p e x	2 2 7 -	2 2 3 -	0 4 -	1. 8 %	1 0 4 8 -
W k i i l ∆ t o r n g c a p a	2 5 6 -	4 3 8 -	1 8 2	4 1. 6 % -	1 0 0 5 -
F h f l r e e c a s o w	1 6 7. 1	1 1 2. 6	4 5 5	4 8 4 %	5 2 1. 6

SegmentsFINANCIALS Q2 2015

i E U R n m		E u r o p e	N h t o r i A m e r c a	L i t a n i A m e r c a	A i s a i f i P a c c	A l l h t o e r t s e g m e n s	G r o u p
O i f i t t p e r a n g g r o s s p r o	Q 5 2 2 0 1	2 6 3. 8	2 4 3. 9	5 5 0.	3 6. 9	4. 0	5 9 9. 1
	Q 2 2 0 1 4	2 4 6 6	1 9 3 9	3 9 5	3 0 1	3 8	1 3 9 5
	∆	7 0 %	2 5 8 %	2 7 8 %	2 2 6 %	5 3 %	1 6 6 %
	F X d j d ∆ t a s e u	4 5 %	2 7 %	1 3 0 %	2 8 %	5 3 %	4 3 %
i O E B I T D A t p e r a n g	Q 2 2 0 1 5	9 2. 9	9 8. 4	1 6. 1	1 3. 7	5. 7 -	2 1 5. 4
	) 1 Q 2 2 0 1 4	8 6 2	7 8 7	9 0	1 0 2	5 6 -	1 7 8 5
	∆	8 % 7	2 0 % 5	8 9 % 7	3 4 3 %	1. 8 %	2 0 % 7
	F X d j d ∆ t a u s e	4 8 %	2 0 %	6 1. 0 %	1 1. 4 %	1. 8 %	6 7 %

Q2 2015 PresentationAGENDA

▌Highlights Q2 2015

▌Financials Q2 2015

▌Outlook

▌Appendix

OUTLOOK

	2 0 1 4 H 1 2 0 1 5	C t o m m e n s	T d 2 0 1 5 r e n
S l a e s	E U R 1 0, 0 1 6 m E U R 5, 2 6 5 m	M d l i i i d l t t t o e r a e y p o s v e m a c r o e c o n o m c e v e o p m e n s i h. t t s u p p o r n g g r o w
G f i t r o s s p r o	E U R 2, 0 2 8 m E U R 1, 1 4 3 m	f f P i i d l i i d b t t t t o s v e e v e o p m e n o g r o s s p r o s s u p p o r e y d l i i i d l d t t t m o e r a e y p o s v e m a c r o e c o n o m c e v e o p m e n s a n l h d t t t t s r u c u r a g r o w r e n s.
O i t p e r a n g E B I T D A	E U R 7 2 7 m E U R 4 1 0 m	G i d E U R E U R f h f l l 8 3 0 8 5 5 t t a n c e r a n g e u : m o m o r e u 2 0 1 5 y e a r
P f i f t t r o a e r t a x	E U R 3 4 0 m E U R 1 9 9 m	E d d i b i E B I T D A t t t p e c e o g r o r e n o p e r a n g x w v y

OUTLOOK

	2 0 1 4 H 1 2 0 1 5	C t o m m e n s	T d 2 0 1 5 r e n
W k i o r n g i l t c a p a	E U R 1, 2 2 7 m E U R 1, 3 4 0 m	T l f i f l d l t t t t. o a a r g e e e n a n c o n o s a e s e e o p m e n x u v ( ) E d i 2 0 1 d d 2 0 1 4 t t 5 t x p e c e o g r o w n c o m p a r e o y e a r e n d i b l h d h l l i k t t r v e n y s a e s g r o w a n m o r e c a e n g n g m a r e d i i t c o n o n s.
C a p e x	E U R 1 0 5 m E U R 3 8 m	C f d i i i i d t t t t t t a p e s p e n n g o m a n a n n r a s r c r e a n o s p p o r x u u u f h t t u u r e g r o w C f d b i h f E U R 2 0 1 5 1 3 0 t t t a p e x o r e x p e c e o e n e a r e a o m
C F h r e e a s F l o w	E U R 5 2 2 m E U R 3 2 8 m	f f F h l i d i i i l t t t r e e c a s o s e p e c e o g r o s g n c a n w x w y.

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ContentsAPPENDIX

	P a g e
I S H 1 2 0 1 5 t t t n c o m e a e m e n	2 5
C f h l H 1 2 0 1 5 t t t a s o w s a e m e n	2 7
F C h F l H 1 2 0 1 5 r e e a s o w	2 9
S H 5 1 2 0 1 t e g m e n s	3 0

Income statementFINANCIALS H1 2015

i E U R n m	H 1 2 0 1 5	) 2 H 1 2 0 1 4	∆	F X ∆ d j d t a s e u
S l a e s	2 6 3 5 5 ,	4 9 1 4 7 ,	1 % 7	2 8 % -
C f d l d t o s o g o o s s o	4 1 2 2 7 - ,	3 9 3 1. 6 - ,	4 9 %
G f i t r o s s p r o	1, 1 4 2. 6	9 8 5. 8	1 5. 9 %	4. 3 %
E x p e n s e s	7 3 2 2 -	6 4 7 5 -	1 3 1 %
E B I T D A	4 1 0. 4	3 3 8. 3	2 1. 3 %	8. 1 %
1 ) A d d b k i t t t a c r a n s a c o n c o s s	-	0 2 -
O i E B I T D A t p e r a n g	4 1 0. 4	3 3 8. 1	2 1. 4 %	8. 2 %
O / G E B I T D A f i t p. r o s s p r o	3 9 % 5	3 4 3 %

1) Transaction costs are costs connected with restructuring and refinancing under company law.

Income statement (continued)FINANCIALS H1 2015

i E U R n m	H 1 2 0 1 5	) 3 H 1 2 0 1 4	∆
E B I T D A	4 1 0 4	3 3 8 3	2 1. 3 %
D i i t e p r e c a o n	5 3 7 -	4 8 4 -	1 1. 0 %
E B I T A	3 5 6. 7	2 8 9. 9	2 3. 0 %
) 1 A i i t t m o r z a o n	1 9 0 -	1 7 5 -	8 6 %
E B I T	3 3 7. 7	2 7 2. 4	2 4. 0 %
) 2 F i i l l t n a n c a r e s u	4 1. 5 -	4 2 4 -	2 1 % -
E B T	2 9 6 2	2 3 0 0	2 8 8 %
P f i f t t t r o a e r a x	1 9 9. 3	5 1 1. 2	3 1. 8 %

1) This figure includes for the period January to June 2015 scheduled amortization of customer relationships totalling EUR 14.8 million (H1 2014: EUR 13.8m).

2) Thereof EUR -1.3m in H1 2015 and EUR –1.2m in H1 2014 are related to change in purchase price obligation Zhong Yung (International) Chemical Ltd., whichhas to be recorded in the income statement according to IFRS.

Cash flow statementFINANCIALS H1 2015

i E U R n m	H 1 2 0 1 5	1 ) H 1 2 0 1 4
P f i f t t t r o a e r a x	1 9 9 3	1 5 1. 2
D i i & i i t t t e p r e c a o n a m o r z a o n	2 7 7	6 9 5
I t n c o m e a x e s	9 6 9	7 8 8
I t t n c o m e a p a m e n s x y	1 1 0 7 -	8 1. 5 -
I l t t t n e r e s r e s u	3 6 4	3 7 4
( ) I t t t t n e r e s p a m e n s n e y	2 1. 6 -	2 8 5 -
C h i d l i b i l i i t t t a n g e s n c u r r e n a s s e s a n a e s	7 8 5 -	1 2 1. 6 -
O h t e r	2 8 7 -	6 5 -
C i i i i i h d d b t t t a s p r o v e y o p e r a n g a c v e s	1 6 6. 7	9 5. 2

Cash flow statement (continued)FINANCIALS H1 2015

i E U R n m	H 5 1 2 0 1	H 1 2 0 1 4
P h f i i b l d l & i t t t t t r c a s e s o n a n g e a s s e s a n p r o p e r p a n e q p m e n u y, u	3 9 7 -	4 3 0 -
P h f l i d d b i d i i d h b i i t t t u r c a s e s o c o n s o a e s u s a r e s a n o e r u s n e s s u n s	4 4 4 -	5 7 7 -
O h t e r	2 4	1. 3
C f i i i i i h d t t t a s u s e o r n v e s n g a c v e s	8 1. 7 -	9 9. 4 -
C i l i t a p a n c r e a s e	-	-
P i i i h h i l i t t t t t a m e n s n c o n n e c o n e c a p a n c r e a s e y w	-	-
P h f h i i l d l i d d t u r c a s e s o s a r e s n c o m p a n e s a r e a y c o n s o a e	-	-
D i i d d i d i i h h l d t t e n s p a o m n o r s a r e o e r s v y	1. 3 -	0 9 -
D i i d d i d B h h l d t t v e n s p a o r e n n a g s a r e o e r s	1 3 9 1 -	1 3 3 9 -
( ) / ( ) ( ) R f d f b i t t e p a m e n o p r o c e e s r o m + o r r o n g s n e y w -	1 3 6 5 -	2 2 9
C f f i i i i i h d t t a s u s e o r n a n c n g a c v e s	2 7 6. 0 -	1 1 1. 9 -
C h i h & h i l t a n g e n c a s c a s e q a e n s u v	1 9 1. 0 -	1 1 6. 1 -

Free cash flowFINANCIALS H1 2015

i E U R n m	H 1 2 0 1 5	1 ) H 1 2 0 1 4	∆	∆	2 0 1 4
E B I T D A	4 1 0 4	3 3 8 3	7 2 1	2 1. 3 %	7 2 6 9
C A P E X	3 6 7 -	4 0 9 -	3 3	8 1 % -	1 0 4 8 -
W k i i l ∆ t o r n g c a p a	4 4 7 -	1 1 3 5 -	6 8 8	6 0 6 % -	1 0 0 5 -
f F h l r e e c a s o w	3 2 8. 1	1 8 3. 9	1 4 4. 2	7 8. 4 %	5 2 1. 6

SegmentsFINANCIALS H1 2015

i E U R n m		E r o p e u	N h t o r A i m e r c a	L i t a n A i m e r c a	A i s a P i f i a c c	A l l h t o e r t s e g m e n s	G r o p u
i f i O t t p e r a n g g r o s s p r o	H 1 2 0 1 5	5 2 0. 2	4 7 1. 7	1 0 0. 2	7 0. 3	7. 9	1, 1 7 0. 3
	H 1 2 0 1 4	4 9 0 7	3 7 6 3	7 7 1	5 7 9	7 4	1, 0 0 9 4
	∆	6 0 %	2 4 % 5	3 0 0 %	2 1. 4 %	6 8 %	1 9 % 5
	F X d j d ∆ t a u s e	3 8 %	3 2 %	1 4 1 %	2 5 %	6 8 %	4 3 %
O i E B I T D A t p e r a n g	H 1 2 0 1 5	1 8 1. 1	1 8 6. 3	3 1. 5	2 4. 8	1 3. 3 -	4 1 0. 4
	1 ) H 1 2 0 1 4	1 6 4 7	1 4 4 5	1 9 5	1 8 7	1 2 0 -	3 3 8 1
	∆	8 2 %	2 8 9 %	6 1. 5 %	3 2 6 %	1 0 8 %	2 1. 4 %
	F X d j d ∆ t a s e u	6 % 5	6 1 %	4 3 8 %	1 1. 2 %	1 0 8 %	8 2 %

CONTACT

Investor Relations

Thomas LangerDiana AlesterRené WeinbergPhone: +49 (0) 208 7828 7653Fax: +49 (0) 208 7828 7755E-mail: IR@brenntag.deWeb: www.brenntag.com

This presentation may contain forward-looking statements based on current assumptions and forecasts made by Brenntag AG and other information currently available to the company. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Brenntag AG does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.

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