Akzo Nobel increased results for the first time again

19.10.2018 − 

In the third quarter, sales of the continuing operations of the Dutch chemicals group Akzo Nobel fell again by 4% to €2.326bn. Adjusted for negative currency effects, sales reached the previous year's level. The operating result increased by 10% to €237m, thus exceeding the previous year's level for the first time this year. Higher raw material costs were more than offset by the cost-cutting measures implemented as part of the ongoing restructuring program. In the first (-48%) and second quarters (-36%), however, operating earnings were still well below the respective comparative figures. A minus of 2% was reported for the full year 2017.

In the "Decorative Paints" division, in which Akzo Nobel concentrates on the manufacture and sale of paints, varnishes and varnishes for end consumers, sales declined by 6% to €1.007bn, while operating profit of €115m was 21% higher than in the previous year. In the Performance Coatings division, which comprises the activities with industrial coatings, inks and coating systems for the woodworking and furniture industries, among others, the decline in sales was somewhat less pronounced with a decline of 3% to €1.388bn. Adjusted operating profit here also increased significantly by 16% to €170m.

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