Q3 2019 Brenntag AG Earnings Call Transcript
Dear, ladies and gentlemen, welcome to the Q3 2019 results Call of Brenntag AG. At our customer's request, this conference will be recorded. (Operator Instructions) May I now hand you over to Steve Holland, who will lead you through this conference. Please go ahead.
Thank you, and good afternoon, everybody. Welcome to our call. As you know, I'm here; my CFO, Georg Müller, and this indeed is my last call as CEO, as I step down at Christmas.
Let me start with the highlights of the quarter. Our operating gross profit rose by 3.9% to EUR 722.2 million on a constant FX basis. I'd like to note that our newly established Food & Nutrition organization contributed well in the third quarter, the gross profit growth was mid-single digit, which was clearly above the organic development of the group. We operate in quite a difficult economic environment at the moment, with soft demand, kept our operating EBITDA stable against last year's Q3, which is on a constant FX rate and on a frozen
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