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AkzoNobel has reported volume growth in Decorative Paints and Speciality Chemicals with further overall profitability growth in Q3, despite challenging conditions in several countries and segments. EBIT increased one percent to €442M and return on sales improved to 12.3% (2015: 11.6%). Overall volumes were flat and revenue was down four percent to €3.6bn, due to adverse currency and price/mix effects. Return on investment was 15.2% (2015: 13.0%).
CFO Maëlys Castella commented: "We achieved further growth in profitability in the third quarter, with returns up for all business areas and positive volume developments in Decorative Paints and Specialty Chemicals. We are delivering on our improvement programmes and maintaining a strong cash discipline. We decided to increase the interim dividend by six percent to €0.37/share.
"Our focus remains on driving continuous improvement and organic growth. We broke ground on a powder coatings plant in Mumbai that will bring us closer to our customers in the north and west of India. We also introduced innovative products that bring major sustainability benefits to our customers, including our Berol DR-B1 direct release surfactant and Aquasilk waterborne wood coating. Denim Drift was launched as our Color of the Year for 2017.”
