Brenntag shares fall as chemicals price pressures hit forecast [Reuters]
BRENNTAG SE UNSP/ADR (BNTGY)
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Source: Reuters
missed first-quarter estimates due to price pressures and lower-than-expected demand in some areas. Chemicals firms have cut inventories over the past two years due to weak demand, but some are seeing tentative recovery signs as volumes slowly pick up in the U.S., Europe and China. Brenntag said that higher volumes were not making up for lower prices, without giving exact figures. "Finding the right price points at this moment is a little bit tricky as we have not been fully meeting the expectations in Q1," said CEO Christian Kohlpaintner in an analyst call. But there were "encouraging signs" on price improvements, he said, especially in its warehouse business builders. Brenntag's finance chief Kristin Neumann said that although demand was picking up in beauty, healthcare and nutrition, the material science sector was slightly slower. Volume growth was coming from the EMEA and North America regions, while Latin America, which accounts for less than 10% of Brenntag's revenu
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