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AkzoNobel targets to achieve an above-5% increase in revenue

April 22/2011

(ICIS) -- AkzoNobel on Thursday reiterated its target to achieve an above-5% increase in revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) this year. Keith Nichols, AkzoNobels CFO added that the company was on track to increase its revenue to EUR 20 bln (USD 29 bln) within five years, with a view to keeping its margins at a 1315% range, first announced in September 2010, despite a rise in raw material prices, which are now close to 15% higher than last year.

Speaking at a press conference, Nichols said the targets can be achieved through organic expansion and a continued focus on high-growth markets.

He added that the Dutch speciality chemical producer is still aiming to raise the share of high-growth markets, which include China, India and Brazil, to 50% of total revenue over the next decade, up from the current 40%.

The company hopes to double its revenue in China to USD 3 bln and to quadruple its revenue in India to EUR 1 bln. In Brazil, AkzoNobel is looking to double its revenue to EUR 1.5 bln.

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