- Q3 2025 results reflect the challenging macroeconomic and geopolitical backdrop: Sales of 3.718 million EUR (-4.7%*), Operating Gross Profit** of 947 million EUR (-3.1%), Operating EBITDA of 330 million EUR (-6.7%) and Operating EBITA*** of 243 million EUR (-9.2%)
- Cost containment program firmly on track, with savings of 45 million EUR in Q3 2025
- Management Board takes action to enhance agility and execution discipline, driving sales, performance and efficiencies
- Brenntag will continue to operate its two divisions within one Group; a full separation is no longer under consideration
- 2025 guidance of operating EBITA specified and now expected to be towards the lower end of the range
Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, today published its financial results for the third quarter 2025, reflecting a persistently challenging and volatile market environment. The company achieved sales of 3,718 million EUR (-4.7%), operating gross profit of 947.2 million EUR (-3.1%), operating EBITDA of 330.2 million EUR (-6.7%) and operating EBITA of 243.0 million EUR (-9.2%). Brenntag continued the implementation of its cost containment program at an accelerated pace, with 45 million EUR in savings in the third quarter. Brenntag specifies its 2025 guidance for operating EBITA towards the lower end of the range of 950 million EUR to 1,050 million EUR. The company’s governance structure is being simplified and aligned towards agility and execution discipline. Moreover, a strategic review has been initiated to ensure that the business and operating model remain fully aligned with evolving customer requirements and market dynamics.
Jens Birgersson, Chief Executive Officer of Brenntag SE: “My first months have been characterized by challenging market conditions without any short-term signs of improvement. Still, I am positive about Brenntag’s fundamental strengths as basis for future growth: A unique ability to adapt to market circumstances, market-leading positions and strong value propositions in both divisions with unmatched scale and global reach. I am impressed with the skill and commitment of our commercial teams towards our customers and supply partners. I see potential for operational improvements and efficiency gains. My immediate focus is on sales and execution. We need to strengthen Brenntag’s core by optimizing the corporate backbone, simplifying structures and improving our cost base. We have launched a strategic review to develop the most competitive and scalable global distribution supply chain and capture growth opportunities. We aim to present this new strategy in the second half of 2026.”
Financial performance
In the third quarter of 2025, Brenntag achieved sales of 3,718 million EUR, down 4.7% compared to Q3 2024. In challenging markets, the company generated an operating gross profit of 947.2 million EUR (-3.1%). Operating EBITDA stood at 330.2 million EUR (-6.7%) and operating EBITA at 243.0 million EUR, down 9.2% versus Q3 2024. EBITDA margin was 8.9% compared to 9.1% in Q3 2024, benefitting from positive effects of the company’s cost initiatives. Free cash flow amounted to 315.6 million EUR, an increase of 27.9% versus 246.8 million EUR in Q3 2024.
Based on business development and performance in the third quarter, Brenntag specifies its 2025 guidance and now expects operating EBITA to be towards the lower end of the range of 950 million EUR and 1,050 million EUR.
Cost containment program firmly on track with additional efficiency measures being examined
Thomas Reisten, Chief Financial Officer of Brenntag SE: “We are executing our cost containment program at an accelerated pace. We achieved 45 million EUR of savings in the third quarter 2025 and are on track to achieve our goal of 300 million EUR annual cost-out by 2027. A key element of the accelerated cost containment program is reducing organizational complexity, simplifying and streamlining administrative processes and removing duplications and structural overlaps.”
Initiatives include a reduction of headcounts worldwide, which will be implemented in a socially responsible manner. The focus will be on overheads, mainly in headquarters and support functions. The program is subject to customary consultations with workers council representatives. Brenntag will also continue to further optimize its global site network, including evaluation of site closures and market exits.
New governance structure
To ensure an agile decision-making process across the entire Group, Brenntag is implementing a streamlined governance model with a two-member Management Board of CEO and CFO and an Executive Committee. This structure, effective December 1, 2025, replaces the model with divisional CEOs and divisional Executive Committees introduced in 2023.
Divisional performance
CEO Jens Birgersson: “I value both divisions, and we must grow and invest in both. A full separation of Brenntag Specialties and Brenntag Essentials is no longer under consideration as it is not in the interest of Brenntag. Both divisions benefit from significant synergies in costs, personnel, operational infrastructure and market access, representing a unique competitive advantage for Brenntag.”
The macroeconomic environment remained challenging in Q3 2025, affecting both demand and price developments in all Brenntag businesses. Brenntag Essentials reported sales of 2,537 million EUR (-4.6%) and operating gross profit of 677.5 million EUR (-2.3%), driven mainly by lower performances in EMEA and North America (excluding Mexico). Operating EBITDA was 246.3 million EUR (-5.5%) and operating EBITA stood at 170.1 million EUR (-8.0%). The division achieved a positive volume development in Latin America, driven by acquisitions, while all other regions saw negative volumes year-over-year, in light of the overall pressure on demand. Sales prices remained under pressure.
Brenntag Specialties achieved sales of 1,181 million EUR (-5.0%), an operating gross profit of 269.7 million EUR (-5.1%), operating EBITDA of 100.7 million EUR (-13.0%) and operating EBITA of 92.5 million EUR (-14.2%). The segment Life Science reported a year-on-year operating EBITA decline of 17.1% whereas Material Science declined by 17.6%. The Life Science segment faced pressure from the persistently weak macroeconomic environment. Our Nutrition business continued to show a positive performance in EMEA while Americas remained under pressure, mainly driven by lower demand for base ingredients in our North American business. The weaker performance in Beauty & Care was mainly driven by slower demand and intense competition in Americas and APAC, while EMEA remained more stable compared to last year. Similarly, Pharma remained more stable in EMEA while APAC and Americas were more challenging. The Material Science segment continued to be affected by higher interest rates and the related slowdown in construction and public investment activity.
Strategic review initiated
Brenntag has initiated a Group-level strategy review to ensure its business and operating model remain fully aligned with evolving customer requirements and market dynamics, The analysis is ongoing, with strategy development continuing in 2026.In the meantime, Brenntag will focus on sales and execution as a key priority while further improving its cost base.
