MOSCOW (MRC) -- Dutch paint and
chemicals giant Akzo Nobel NV AKZA reported a flat net profit for the first
quarter of 2017, while guiding for higher profitability during the full year,
said the company on its site.
Net profit for the period ended March was
240 million euros (USD257.5 million), on par with net profit during the same
period a year earlier.
The company said it expects earnings before
interest and taxes to be roughly EUR100 million higher than in 2016, which came
in at EUR1.5 billion (USD1.61 billion).
Quarterly revenue rose 7% to
EUR3.67 billion, mainly as a result of higher volumes and
As MRC wrote earlier, 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.
The transaction included relevant technologies, patents and trademarks, as well
as two manufacturing plants in the United Kingdom and South Africa.
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.