AkzoNobel forecasts improved performance in Q3 2020
Chemical

AkzoNobel forecasts improved performance in Q3 2020

Based on current trading, total revenue for the third quarter is expected to be close to previous year in constant currencies.

  • By Pravin Prashant | September 10, 2020
Paint and coatings manufacturer Akzo Nobel N.V. has provided an update on recent business performance as the complex situation regarding the global COVID-19 pandemic continues to evolve, 
 
Based on current trading, total revenue for the third quarter is expected to be close to previous year in constant currencies as the market headwinds have continued to ease during recent months.
 
Although trends differ per region and segment, end market demand for Decorative Paints is strong in Europe and South America and continues to improve for Performance Coatings.
 
Financial results for the third quarter will be announced on October 21, 2020.
 
The company recently reported a drop in its profits as well as sales during the second-quarter wherein its adjusted operating income fell 22% to 238 million euros on revenue down by 19% to 1.98 billion euros as against 2.45 billion euros in 2019.
 

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