AMSTERDAM - AkzoNobel reported a second quarter with positive developments in profitability in all three business areas, despite currency pressures and a challenging market environment. EBIT increased 9% to €491 million. Overall volumes improved by 1%, although this increase was not reflected in second-quarter revenue, which was down 6% at €3.7 billion, strongly affected by currencies. Return on sales improved to 13.2% and return on investment was up at 15.1%.
CEO Ton Büchner commented, "During the quarter we increased volumes while improving profitability across all business areas, showing the ongoing resilience of our business. The market environment in 2016 remains uncertain, with challenging conditions in several countries and segments. Deflationary pressures and currency headwinds are expected to continue. Our ongoing focus will remain on driving continuous improvement and organic growth across our business areas.