AkzoNobel Q3 trading results

AkzoNobel has announced its Q3 2014 trading results. Highlights include:

• Operating income totaled €335 million
• Revenue down two per cent, volume up one per cent, more than offset by negative currency effects and divestments
• Return on sales at 9.1 per cent (compared to 8.0 per cent in 2013); excluding restructuring costs of €55 million, ROS stands at 10.6 per cent
• Net income attributable to shareholders €205 million (2013: €155 million)
• Adjusted EPS increased 24 percent to €0.92 (2013: €0.74)
• Interim dividend of €0.33 declared
• Net cash inflow from operating activities €489 million (2013: €552 million)

CEO Ton Büchner, says, “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.”

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