Coatings / Headlines / News

Weak European Demand Impacts Akzo Nobel’s First Quarter Revenue

April 30, 2013
/ Print / Reprints /
ShareMore
/ Text Size+

Akzo Nobel N.V. recently reported a 7% revenue decrease in the 2013 first quarter compared with the same period last year, reportedly due to weak demand in European markets and divestments. Operating income for the first quarter was 8% lower at €217 million (~ $282 million). Revenue in Decorative Paints declined 5%, reportedly due primarily to lower volumes in Europe, price/mix effects and currencies. Operating income was €43 million (~ $55 million), an increase compared to the same period 2012, reflecting lower restructuring charges and lower costs in mature markets.

Performance Coatings revenue declined 3% compared with the previous year’s first quarter. Revenue in Specialty Chemicals was 11% lower due to divestments and lower volumes, mainly in construction-related products and the pulp bleaching and plastics industries.

“The economic environment remains challenging and we do not expect an early improvement in the trends that we see in our businesses,” said Keith Nichols, chief financial officer. “The acceleration of our performance improvement program and the strategic priorities announced in February are the right focus to have in these markets.”

For additional information, visit www.akzonobel.com.

Did you enjoy this article? Click here to subscribe to Adhesives & Sealants Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

ASI April 2014 Photo Gallery

Our April 2014 issue is now available!

Podcasts

ExxonMobil Tackifier Expansion

Dwight Tozer, vice president of ExxonMobil’s Adhesion Industry business, discusses the company’s latest tackifier expansion project with Editor-in-Chief Susan Sutton.

More Podcasts

Adhesives & Sealants Industry Magazine

ASI August 2014 cover

2014 August

Our August issue includes what is traditionally our most popular article of the year: the ASI Top 25. You won't want to miss it!

Table Of Contents Subscribe

THE ADHESIVES STORE

handbook-sealant-tech.gif
Handbook of Sealant Technology

The Handbook of Sealant Technology provides an in-depth examination of sealants, reviewing their historical developments and fundamentals, adhesion theories and properties, and today’s wide range of applications.

More Products

ASI 2014 Buyers GuideASI's Buyers' Guide

Annual purchasing resource for equipment used in the manufacture/formulation of adhesives, sealants, pressure sensitives, tapes and labels and for application of finished adhesives. 

Clear Seas Research

With access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook_40px twitter_40  youtube_40pxlinkedin_40 google+ icon ASI 30px