ESSEN / LONDON (IT BOLTWISE) – Brenntag, a leading chemical distribution company, has adjusted its strategy under new CEO Jens Birgersson. Despite difficult market conditions, the company plans to maintain its business areas, increase sales and simplify the organization. A global workforce reduction is also part of the new strategy.
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Chemicals retailer Brenntag has announced a strategic realignment under the leadership of its new CEO Jens Birgersson. Since taking office in September, Birgersson has reviewed the company’s strategy and decided against splitting up the business areas. Instead, both areas will continue to be managed under the group umbrella. The goal is to increase sales, simplify the organization and improve implementation.
The new strategy, to be presented in the second half of the year, also includes global workforce reductions. Birgersson stressed that the first months of his term in office were characterized by difficult market conditions, with no signs of improvement in the short term. In order to strengthen Brenntag at its core, central structures are to be optimized and the cost base improved.
In the third quarter, Brenntag recorded a decline in sales of 8.6 percent to 3.72 billion euros. At 243 million euros, operating EBITA was 13.6 percent below the previous year’s figure. Net profit after taxes and third parties fell from 118.2 million euros in the same quarter of the previous year to 113.1 million euros. Analysts’ consensus had expected sales of 3.82 billion euros, an operating EBITA of 239 million euros and a net profit of 102 million euros.
For the full year 2025, Brenntag now expects operating EBITA towards the lower end of the range of 950 million euros to 1.05 billion euros. Brenntag shares reacted positively to the business figures and rose by up to nine percent. Analysts at JPMorgan commented that third-quarter results were better than feared.
In contrast, Evonik and LANXESS shares fell to new lows. Barclays expert Gaurav Jain classified the European chemical sector as structurally weak, but sees chemical traders like Brenntag in a comparatively good position. Evonik and LANXESS, on the other hand, were devalued, with LANXESS even being set to “Underweight” with a price target halved.
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