Akzo Nobel: Lower result despite higher turnover

11.10.2017 − 

In the second quarter, Dutch Akzo Nobel was confronted with a deterioration in its results figures despite a 2% increase in total turnover to €3.785bn. The EBIT decreased by 6% to €461m due to higher raw materials costs, for example. The net result declined to €301m.

In the performance coatings business division - which includes activities with industrial varnishes, paints and coatings systems, for example, for the wood and furniture industry - turnover - as for the entire group - increased by 2% to €1.504bn. In this connection, the 4% decrease in sales volumes was more than offset, particularly by the turnover contribution made by companies acquired during the preceding year.

In the fourth quarter of 2016, Akzo Nobel concluded the takeover of the industrial varnish segment of BASF, for example. Subsequently, the industrial and powder coatings subdivision, in which activities in the area of wood varnish products are consolidated, achieved over-proportional turnover growth of 10% to €777m from April to June, and therefore contributed more than half of the business division’s turnover. Opposing development in the marine and protective coatings subdivision (-11% to €347m) as well as higher raw materials costs led to an EBIT decrease of 9% to €202m.

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