MOSCOW (MRC) -- Dutch paints maker Akzo Nobel NV reported that its fourth-quarter net income attributable to shareholders fell to 7 million euros from 51 million euros in the prior year, said the company in its press release.
Operating income, excluding incidentals, was 169 million euros up from last year's 55 million euros, due to improved operational performance and lower restructuring charges.
Adjusted earnings per share were 0.33 euros, compared to 0.01 euros in the prior year.
Revenue for the quarter grew to 3.517 billion euros from 3.482 billion euros in the previous year. Revenue was up 1 percent, with 2 percent favorable currency effects offset by 1 percent lower volumes.
The company anticipates that significant developments in raw material prices, combined with relevant exchange rate movements and lower growth rates in high growth economies, will principally determine the dynamics of 2015.
AkzoNobel said it remains on track to achieve its targets for 2015.
As MRC wrote before, Daimler AG has signed an agreement with AkzoNobel Performance Coatings making the company one of the approved suppliers of vehicle refinishes to Daimler dealerships and approved bodyshops worldwide.
Akzo Nobel N.V., trading as AkzoNobel, is a Dutch multinational, active in the fields of decorative paints, performance coatings and specialty chemicals. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs approximately 55,000 people.
MRC