AkzoNobel 2013 Revenue Falls
AkzoNobel N.V. recently announced its fourth quarter and full-year 2013 results. Revenue for the year totaled €14,590 million (~ $20,042 million), down 5% compared to 2012, reportedly as a consequence of adverse currency effects and divestments.
Operating income for 2013 (excluding incidentals) came in at €897 million (~ $1,230 billion) vs. €908 million (~ $1,247 billion) in 2012, excluding impairment. Net income attributable to shareholders reached €724 million (~ $994 million), up from €386 million (~ $530 million) in 2012.
“We indicated at the start of 2013 that trading conditions would continue to be challenging and that has proven to be the case,” said Ton Büchner, CEO. “In response, we accelerated our company-wide improvement actions and have brought our performance improvement program to a successful conclusion a year ahead of schedule and above target. While the first half of 2013 was impacted by weaker trading conditions and specific one-off events in Specialty Chemicals, the second half has shown early signs of stabilization in several end markets. In combination with our restructuring actions, this positive effect has been evident in our improving return on sales in the third and fourth quarters, despite foreign currency headwinds. In 2014, we will continue to improve our ability to leverage our strong brands and leading market positions. We will further restructure our business, reduce our costs and drive organic growth. I am confident that we are on track to deliver on our 2015 strategic goals.”
For more information, visit www.akzonobel.com.