Positive Volume Growth for AkzoNobel’s Third Quarter
AMSTERDAM, The Netherlands – For the third quarter of 2014, Akzo Nobel N.V. (AkzoNobel) reported positive volume growth and an improvement in return on sales (ROS) from 8.0% to 9.1%.
Excluding restructuring costs of €55 million, ROS was 10.6% (2013: 10%). Operating income grew 11% to €335 million (2013: €303 million), reflecting the positive effects of ongoing operational efficiency programs, although this was partially offset by new restructuring costs in Performance Coatings. Net income attributable to shareholders was €205 million (2013: €155 million), due to higher operating income and lower finance expenses. Revenue for the third quarter declined 2%, with volume growth being offset by negative currency effects and divestments.