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AkzoNobel publishes Q1 results

April 20/2012

(akzonobel) -- Akzo Nobel N.V. (AkzoNobel)  reported a 6 percent increase in first quarter revenue compared with the same period in 2011, mainly driven by pricing actions to offset higher raw material costs. The EBITDA for Q1 was 3 percent lower at EUR423 million, due to weaker end markets and cost inflation. The company also announced that its global performance improvement program is on track.

Overall raw material prices remain a challenge. Looking forward, the company expects the higher oil and TiO2 prices on average to have an inflationary impact.

Cash from operating activities was impacted by a one-time pension payment and the seasonal build-up of operating working capital.

Decorative Paints achieved a revenue increase of 4 percent in the first quarter, primarily driven by margin management in weak markets. Lower volumes impacted EBITDA, particularly in North America which benefited last year from a one-time positive customer load-in. Restructuring and cost reduction actions are underway in Europe and North America to offset weaker demand.


In Performance Coatings, revenue increased 11 percent and EBITDA was up 15 percent compared with the previous year. Industrial Coatings Ц boosted by acquisition activity Ц achieved the strongest growth, followed by Marine and Protective Coatings. Although overall activity levels were flat, there was significant variability between individual segments.



mrcplast.com
Author:Anna Larionova
Tags:No
Category:General News
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