- PPG partners with Prague Crafts Academy to train the next generation of painters
- Offshore wind farm Hollandse Kust Zuid inaugurated
- UPM selects Brenntag as sole European distributor of its new bio-based MEG
- PPG partners with Dutch university to develop world’s first off-road solar car
- Philippine lead paint ban feted in Bonn, Germany
The company reported revenue growth across all business areas, led by price/mix developments of 5% and a 2% volume increase.
Highlights included: 2011 revenue up 7% to €15.7bn, driven mainly by pricing actions; weaker end markets and cost inflation impacted results; 2011 EBITDA 9% lower at €1.8bn; net income from continuing operations €469M (€664M yr-on-yr) adjusted EPS €2.91 (€3.71 yr-on-yr); total dividend for 2011: increase to €1.45 proposed (2010: €1.40); performance improvement programme on track and economic environment and certain raw materials remain key sensitivities in 2012.
For the year ahead, the company expects to see the full-year benefit of the price rises that have been achieved so far and which have now offset most of the raw material prices.