Akzo Nobel N.V. reported positive volume growth and, for the fifth consecutive quarter, an improvement in Return on sales (ROS) – from 8.0 percent to 9.1 percent. Excluding restructuring costs of €55 million, ROS was 10.6 percent (2013: 10.0 percent).
Operating income grew 11 percent to €335 million (2013: €303 million), reflecting the benefits of ongoing operational efficiency programs, although this was partially offset by new restructuring costs in Performance Coatings. Net income attributable to shareholders was €205 million (2013: €155 million), due to higher operating income and lower finance expenses. Revenue for the third quarter declined 2 percent, with volume growth being offset by negative currency effects and divestments.
CEO Ton Büchner:
"AkzoNobel delivered a solid Q3 performance, despite continued economic uncertainty. Return on sales improved for the fifth consecutive quarter to 9.1 percent, while operating income grew by 11 percent. Conditions continue to be challenging, but we have a resilient strategy focused on stimulating organic and sustainable growth. Coupled with the benefits from our ongoing operational efficiency programs, we are on track to deliver on our 2015 targets.”
"Q3 was also notable for several achievements, including being ranked first in our industry on the Dow Jones Sustainability Index for the third year running. In addition, our Human Cities initiative gathered momentum when we made a commitment to the Clinton Global Initiative and partnered with The Rockefeller Foundation through its 100 Resilient Cities program. We also developed coatings technology for the world's first fully recyclable and compostable paper cup, and we broke ground on a new Decorative Paints site in Chengdu, China."
