By: ICN Bureau
Last updated : October 27, 2024 10:17 pm
AkzoNobel has reported a second quarter with positive developments in profitability in all three Business Areas, despite currency pressures and a challenging market environment.
AkzoNobel has reported a second quarter with positive developments in profitability in all three Business Areas, despite currency pressures and a challenging market environment. EBIT increased 9 percent to €491 million. Overall volumes improved by 1 percent, although this increase was not reflected in Q2 revenue, which was down 6 percent at €3.7 billion, strongly affected by currencies. Return on sales improved to 13.2 percent and return on investment was up at 15.1 percent.
"During the quarter we increased volumes while improving profitability across all Business Areas, showing the ongoing resilience of our business. The market environment in 2016 remains uncertain, with challenging conditions in several countries and segments. Deflationary pressures and currency headwinds are expected to continue. Our ongoing focus will remain on driving continuous improvement and organic growth across our Business Areas,” Ton Büchner, CEO, AkzoNobel commented.
“We were delighted to open our largest technology center in China, which will support product innovation and the development of next-generation paints, coatings and specialty chemicals. We were also ranked number one in our industry on the influential FTSE4GOOD index of sustainable companies, reinforcing our commitment to embedding sustainability at the heart of our business strategy.”