Akzo Nobel 1Q Ebitda Beats Forecasts But Uncertain Environment Remains
April 19 2016 - 2:05AM
Dow Jones News
By Ian Walker
Paints and specialty chemicals firm Akzo Nobel N.V. (AKZA.AE)
Tuesday reported a 5% rise in first quarter earnings before
interest, taxes, depreciation and amortization, slightly above
consensus forecasts, but said the market environment remains
uncertain with challenging conditions.
The Amsterdam-based company, which lists Dulux, Sikkens,
Interpon and Eka among its brands, added that it grew volumes in
all business areas and continued to improve profitability. However,
deflationary pressures and currency headwinds are expected to
continue, it warned.
For the quarter ended March 31 Akzo said Ebitda rose to 487
million euros ($551.28 million) from EUR462 million a year earlier,
on revenue of EUR3.43 billion and EUR3.59 billion respectively.
This compares with consensus forecasts of EUR482.5 million and
EUR3.53 billion, respectively, taken from the company's website and
based on 16 analysts forecasts.
Net profit rose to EUR240 million from EUR160 million.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
April 19, 2016 01:50 ET (05:50 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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