MOSCOW (MRC) -- AkzoNobel’s net income
fell by 34% to EUR133m in the fourth quarter, mostly weighed by lower
incidental items compared to the same period of 2015, said the company in its
The company's revenue fell by 3% year on year to EUR3.46bn
in the fourth quarter while earnings before interest and taxes (EBIT) were 12%
lower at EUR235m, the company said in a statement.
For the full year of
2016, AkzoNobel’s net income dropped by 1% to EUR970m, with sales down
4% at EUR14.2bn.
Full-year EBIT rose by 3% to EUR1.5bn.
before, AkzoNobel said on 9 June that it is adding marine and protective
coatings capacity at its existing performance coatings site at Lipetsk, south of
Moscow. The new capacity became operational in the third quarter
of last year. It will enable AkzoNobel to supply protective coatings for
the regional oil and gas, mining, power and infrastructure markets, as well as
marine coatings for ship building, maintenance and repair. The investment
represents a further expansion for the multi-business site at Lipetsk.
Besides, in December 2016, AkzoNobel finalized the
acquisition of BASF’s global Industrial Coatings business, which supplies a
range of products for industries including construction, domestic appliances,
wind energy and commercial transport, strengthening its position as the global
number one supplier in coil coatings,
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