Gewinnwarnung 2024:
- Gestiegende Transportkosten
- Preissensititivät d. Kunden
- Geringes Wirtschaftswachstum 2-4 % CAGR
- "Low End of Guidance hard to achive"
- Gewinnwarnungen auch von Produzenten BASF, Lanxess, Evonik
- Umsatzwachstum "nur" 5,1 % (< erwartete 9...10%)
- stagnierender Marktausblick Chemieindustrie (gestiegende Energiekosten), ggf. Verbesserung H2 2024 erwartet: stiegendes Handelsvolumen (?)
- Markterholung Chemie (mit Weltwirtschaft) ab 2025-26
- Geschäftsfeld Essentials resilienter
- Upside: profitables Händlergeschäftsmodell (4-5 % Marge), starke Dividende, langfristiger Wachstumsmarkt, hohe Liquidität, finanzielle Stabilität, Marktführschaft (5%)
- Downside: direkte Abhängigkeit von Weltwirtschaft/Wachstum Industrie/Chemie etc
- Bewertungsabschlag da nicht auf Spezialchemie fokusiert --> Trennung Geschäftsfelder: https://themarket.ch/analyse/wie-brenntag-ihren-bewertungsabschlag-zur-konkurrenz-beseitigen-moechte-ld.11638
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Disclaimer
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