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Restructuring again impacts Akzo Nobel's results

26.04.2019 − 

The Dutch chemicals group Akzo Nobel generated sales of €2.185bn in the first quarter, on a par with the previous year. The operating result, which was again impacted by costs from the ongoing restructuring of the company since the first quarter of 2017, increased by 5% to €113m. Adjusted for extraordinary factors, it improved by 9% to €163m. The return on sales calculated on this basis increased by 0.7 percentage points to 7.5 %.

Earnings development in the first quarter was slowed by higher raw material costs compared with the prior-year period. However, the €77m increase in variable costs was offset by price increases and the cost reduction measures implemented as part of the ongoing restructuring program.

The "Decorative Paints" division, where Akzo Nobel concentrates on the production and sale of paints, varnishes and varnishes for end consumers, generated sales of € 844m, which was virtually unchanged from the previous year. Adjusted operating profit, on the other hand, improved by 7% to €60m.

The "Performance Coatings" division, which comprises activities with industrial coatings, inks and coating systems for the woodworking and furniture industries, among others, improved earnings by 3% to €138m in the first quarter. Here, too, sales were at the prior-year level at €1.339bn.

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