(Reuters) – German chemicals distributor Brenntag reported a lower-than-expected quarterly core profit on Wednesday, hurt by a persistently challenging business environment.
The group’s operating earnings before interest, taxes and amortisation (EBITA) rose to 264.3 million euros ($295.75 million) for the first quarter from 259.7 million a year earlier. Analysts had forecast 275.9 million euros profit, according to a poll by Vara Research.
“Brenntag experienced another quarter characterized by a challenging business environment with ongoing geopolitical and even increased economic uncertainties and volatility, amplified by global tariff negotiations,” CEO Christian Kohlpaintner said in a statement.
Brenntag said it is closely monitoring the development regarding tariffs at the international level and has various scenarios and mitigation measures prepared.
The Frankfurt-listed company now expects annual core profit to come in at the lower end of its forecast range of 1.1 billion euros to 1.3 billion euros.
Analysts polled by Vara Research expected full-year EBITA of 1.17 billion euros.
($1 = 0.8937 euros)
(Reporting by Ozan Ergenay and Marta Frackowiak in Gdansk; Editing by Eileen Soreng)
