AMSTERDAM, the Netherlands - Akzo Nobel N.V. reported positive volume growth and an improvement in return on sales (ROS) for the full-year 2014. Excluding incidentals, ROS was 7.5% in 2014 compared to 6.1% in 2013.
Operating income excluding incidentals grew 20% to €1,072 million (2013: €897 million), reflecting higher benefits from ongoing operational efficiency programs and lower restructuring charges, offset by higher adverse incidental items. Contrary to positive incidental items of €61 million in 2013, mainly related to gain on divestments, the negative incidental items of €85 million in 2014 relate to provisions for legacy items, an external fraud suffered by one of the company’s subsidiaries in the United States, and project costs related to a divestment. Net income attributable to shareholders was €546 million (2013: €724 million which includes exceptional items). Revenue for the full year declined 2%, with volume up 1% in all business areas, more than offset by negative currency effects and divestments.