- One Platform offers customers the full portfolio of essentials, semi specialties and specialties
- Global verticals for Life Sciences such as Pharma, Beauty & Care or Nutrition and Material Science, and regional verticals such as Water Treatment and Oil & Gas, deliver domain competence and application knowledge where that expertise creates most value for customers and supply partners
- A shift from product push to market pull: one account owner per customer, with access to the full portfolio and industry expertise when it is needed
- One globally governed supply chain, turning scale into efficiency while upholding the highest safety and reliability standards
- Decisions based on data, supported by an IT and data infrastructure built to scale
- New medium term targets:
- Organic revenue growth of market* plus ~1 percentage point, and market* plus 2-3 percentage points including M&A
- Operating EBITDA margin of ~10%
- ROIC** of more than 12%
Brenntag SE (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, today presented its strategy and medium term financial targets at its Capital Markets Day 2026. Brenntag is moving from separate divisions organized by product to one Platform built around the customer: broadline distribution as the foundation, complemented by verticals where deep domain competence and application knowledge drive faster growth and higher margins. Managed on facts and data, the Platform is designed to return Brenntag to growth above the market, generate operating leverage and improve returns on capital.
Jens Birgersson, Chief Executive Officer of Brenntag SE: “Chemical distribution is a great space to be in, and no one else has a platform of Brenntag’s breadth and reach. We are not dismantling what we built. We are connecting it and scaling it. Broadline distribution is our foundation; verticals are where we go deeper. We have built expertise over more than 150 years in this industry. We start with the customer, not with a product allocation, and that is how we will grow faster than our markets.”
The Platform delivers value for customers
Brenntag operates the world’s most extensive network for sourcing, handling and delivering chemicals and ingredients safely and reliably to customers across every industry. The company serves around 160,000 customers with more than 20,000 products from more than 10,000 suppliers. This scale gives customers supply reliability, safety and supply chain excellence, combined with deep chemistry expertise, a role proven through the recent market disruption.
Verticals
On top of the broadline distribution Platform, Brenntag builds verticals in segments such as Pharma, Nutrition, Water Treatment, Beauty & Care, Material Science and Oil & Gas, where customers need formulation support, regulatory expertise and application knowledge. Instead of focusing on specialty products alone, Brenntag now grows the whole portfolio within each vertical, across specialties, semi specialties and essentials. Where expertise drives faster growth and higher margins, Brenntag invests globally, regionally or locally. The verticals benefit from broadline scale, sourcing power and operational excellence; broadline gains a path to move up the value chain with customers.
Thomas Reisten, Chief Financial Officer of Brenntag SE: “Our 2026 results so far have been supported by exceptional market effects, but the underlying progress in the organization, from cost out delivery to simpler processes, shows what this business can do. Our medium term framework builds on that with confidence: growth above the market, an operating EBITDA margin of around 10% and a return on invested capital above 12%. A leverage range of 2.0x to 2.5x gives us strategic flexibility while we remain firmly committed to our investment grade rating.”
Medium term financial targets and capital allocation
- Organic revenue growth of market* plus around 1 percentage point; market* plus 2-3 percentage points including M&A
- Operating EBITDA margin of ~10%
- Return on invested capital (ROIC**) of more than 12%
- Annual capex of EUR 300–400m; dividend policy unchanged at 35–50% of net income; additional capital returns considered if this creates value for shareholders
- Cumulative M&A spend of around EUR 1.5bn over the medium term, focused on smaller acquisitions that add value
- Target leverage of 2.0x–2.5x net debt to operating EBITDA, consistent with an investment grade rating
Our approach to market
Brenntag is moving from product push to market pull. Every customer gets one account owner with access to the full Brenntag portfolio, and coverage is matched to customer potential, from strategic partnerships with key accounts and major suppliers to inside sales for smaller customers. For suppliers, Brenntag moves from isolated product deals to growing its partners’ complete portfolios.
Common KPIs, scorecards and incentives anchor accountability. Winning back customers, selling the full portfolio and pricing excellence are expected to contribute EUR 1.7bn of sales with a positive margin effect.
Operating leverage and supply chain
Brenntag is turning its network into one globally governed supply chain, with regional orchestration and accountable local execution. Sourcing and procurement, network optimization and supply chain planning, and headquarters, SG&A and cost discipline are targeted to contribute around EUR 450m of structural EBITDA improvement. Together with the topline levers, this underpins the medium term operating EBITDA margin target of around 10%.
Data driven decision making
Brenntag is becoming a data-driven enterprise, turning technology, data and AI into a competitive advantage. The company's market and customer knowledge, combined with the hundreds of thousands of transactions flowing through its business, is a significant asset. Brenntag is building the technology and data capabilities to enable organic growth and operating leverage, while unlocking the potential of market, customer and transaction data through analytics, automation and AI. Today’s IT cost base of around 1 - 1.5% of revenue is expected to support the targeted revenue growth and efficiency gains without rising in proportion to it.
Market consolidation
The chemical distribution market remains highly fragmented, with around 30,000 distributors globally. Being able to integrate both vertical and broadline distribution significantly broadens the target universe. Brenntag plans a cumulative M&A spend of around EUR 1.5bn over the medium term. The company will maintain a disciplined M&A approach focused on strategic fit, synergies and long-term value creation.
About Brenntag:
Brenntag is the global market leader in chemicals and ingredients distribution. Its global distribution platform connects suppliers and customers of the chemical industry, delivering a full portfolio of essentials, semi specialties and specialties safely and reliably to customers across all industries. On top of this platform, Brenntag operates verticals in areas such as Pharma, Nutrition, Water Treatment, Beauty & Care, Material Science and Oil & Gas, where deep application expertise creates additional value for customers.
Headquartered in Essen, Germany, Brenntag has around 17,000 employees worldwide and operates a network of 600 sites in around 70 countries. In 2025, Brenntag generated sales of EUR 15.2 billion.
Brenntag shares have been listed on the Frankfurt Stock Exchange since 2010.
*Market growth is defined as global chemical production growth weighted to Brenntag’s geographical exposure
**Return on invested capital defined as (EBITA minus Taxes) / Capital Employed
