AkzoNobel Publishes Q1 2016 Results
AkzoNobel has reported its first quarter 2016 results with posi- tive volume developments in all
three Business Areas despite a challenging
market environment. Operating income
increased 17 percent to €357 million and
EBIT increased 9 percent to €334 million, reflecting continuous improvement
initiatives and lower costs, partly offset
by adverse currency effects. Revenue was
down 4 percent compared with the same
period last year as positive volume development was more than offset by adverse
currency effects, price/mix and divestments. Profitability improved, with return
on sales at 9. 7 percent compared with 8.5
percent last year.
Maëlys Castella - CFO AkzoNobel
said, “During the first quarter we grew
volumes in all Business Areas and con-
tinued to improve profitability despite
a challenging market environment and
negative currency effects. Net income
improved by 50 percent and we continue
to further strengthen our businesses by
delivering on our strategy of continuous
improvement, organic growth and in-
novation. During the period we agreed
an offer for the acquisition of BASF’s
Industrial Coatings division which fits
well with our existing business, adding to
our offering of essential solutions for our
customers.”
Decorative Paints: Operating income
increased 4 percent, mainly due to high-
er volumes and lower costs, partly offset
by unfavorable currency developments.
Volumes increased 6 percent due to pos-
itive developments in Asia and Europe,
offset by Latin America. Revenue was
down 3 percent, mainly due to unfavor-
able currency effects and adverse price/
mix. Performance Coatings: Operating
income increased 9 percent, due to high-
er volumes, management delayering,
continuous improvement initiatives and
lower costs. Volumes were up 2 percent
mainly driven by Marine and Protective
Coatings. Revenue was down 3 percent,
with positive volume development being
more than offset by adverse currencies
and unfavorable price/mix. The in-
tended acquisition of BASF’s Industrial
Coatings business was announced,
which will strengthen our position.
Specialty Chemicals: Operating income
increased 1 percent, due to operational
efficiencies and lower costs offsetting
the effects of price deflation and adverse
currencies. Volumes were up 1 percent,
with positive developments – mainly
in Industrial Chemicals – being partly
offset by lower demand in oil related
segments. Revenue was down 7 per-
cent due to the divestment of the Paper
Chemicals business, price deflation and
adverse currency effects. CW
Index to Companies
This index gives the starting page for a department or feature with a significant reference to a manufacturer of paint, coatings, adhesives and sealants
Subsidiaries are indexed under their own names.
AkzoNobel.............................................................................................8, 10, 28
Axalta Coating Systems........................................................................ 10, 19, 21
BASF ............................................................................................................... 10
Benjamin Moore ............................................................................................. 34
Hardide Coatings ............................................................................................ 41
H.B. Fuller ...................................................................................................... 10
Hempel ........................................................................................................... 10
Hentzen..................................................................................................... 21, 28
IFS Coatings.................................................................................................... 10
Kansai Paint .................................................................................................... 24
Mankiewicz..................................................................................................... 28
PPG.................................................................................... 10, 19, 21, 28, 34, 50
Sherwin-Williams ................................................................................. 21, 28, 34
Sika ................................................................................................................. 10
Valspar ............................................................................................................ 10
