AkzoNobel Posts Revenue Increase for Third Quarter
AMSTERDAM, The Netherlands - Akzo Nobel N.V. (AkzoNobel) has reported a revenue increase of 13 percent for the third quarter of 2010 and an EBITDA margin of 14.8 percent.
Strong revenue gains continued to be achieved in high-growth markets across all business areas, while revenue development in the mature markets remained weak. Performance Coatings and Specialty Chemicals reported the strongest revenue increases of 18 and 15 percent respectively, with Decorative Paints revenue up eight percent.
EBITDA for the third quarter rose nine percent to EUR 574 million, with total net income rising 21 percent on 2009 to EUR 238 million.
On October 1, 2010, the company completed the sale of its National Starch business for $1.3 billion. Two acquisitions were announced during the quarter: the Lindgens Metal Decorating Coatings and Inks business and China's Changzhou Prime Automotive Paint Co., Ltd. business. Both are within the Performance Coatings business area.
Strong revenue gains continued to be achieved in high-growth markets across all business areas, while revenue development in the mature markets remained weak. Performance Coatings and Specialty Chemicals reported the strongest revenue increases of 18 and 15 percent respectively, with Decorative Paints revenue up eight percent.
EBITDA for the third quarter rose nine percent to EUR 574 million, with total net income rising 21 percent on 2009 to EUR 238 million.
On October 1, 2010, the company completed the sale of its National Starch business for $1.3 billion. Two acquisitions were announced during the quarter: the Lindgens Metal Decorating Coatings and Inks business and China's Changzhou Prime Automotive Paint Co., Ltd. business. Both are within the Performance Coatings business area.
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