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(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,
AkzoNobel’s 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 13–15% 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.
mrcplast.com
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