In the first quarter, Akzo Nobel sees earnings cut in half

09.05.2018 − 

Dutch Akzo Nobel ended the first quarter with an 8% slide in revenues from continuing activities to €2.176bn. Akzo Nobel said that this slump was primarily fuelled by unfavourable currency effects from the company’s perspective. While sales volumes also fell 3%, average sales prices increased 3%. However, Akzo Nobel noted that much higher raw material costs that prompted these price increases had only been partly passed on to buyers. What is more, charges of €41m, primarily from ongoing restructuring work, meant that operating profits were almost halved to €108m.

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