London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Dutch AkzoNobelís net income is forecast to drop by 13.9% year on year

October 18/2011

(ICIS) -- Dutch chemicals major AkzoNobelís net income is forecast to drop by 13.9% year on year to ?649m ($889m) in 2011, as earnings from its core segments come under pressure from higher raw material costs and deteriorating global economic conditions, Bernstein Research said on Tuesday.
AkzoNobel is expected to lower its 2011 guidance for its earnings before interest, tax, depreciation and amortisation (EBITDA) by about 5-10% on a year-on-year basis when it announces its third quarter results on 20 October, the research firm said in a report. The company posted an EBITDA of ?1.96bn in 2010, according to the report.


AkzoNobel said earlier in July that its 2011 EBITDA is expected to be at least in line with the year before, assuming that economic conditions do not deteriorate further.


While Bernstein has maintained its ďoutperformĒ rating on AkzoNobel, it has lowered its earnings per share (EPS) to ?3.26 in 2011, from ?3.71 in 2010. The companyís EPS is forecast by Bernstein to rise to ?3.76 in 2012.


Raw material costs increased by 20% in the second quarter of this year, which had a major impact on the companyís three business areas: decorative paints, performance coatings and specialty chemicals.
For the decorative paints segment, its EBITDA is expected to fall by 10-15% in 2011 because of strong cost inflation in the third quarter of this year, Bernstein said.


mrcplast.com

Tags:Akzo Nobel.
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe