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Markets :: Specialty Chemicals :: Paints and Coatings
AkzoNobel's Quarterly Results Rise on Improved Volumes and Selling Prices
7:56 AM MDT | April 21, 2011 | Kerri Walsh
AkzoNobel today reported improved first-quarter sales and income because of improved volumes and higher seller prices. Net income jumped 58%, to €128 million, and adjusted earnings per share rose 38%, to €0.72/share. Ebitda rose 10%, to €437 million, on sales up 16%, to €3.8 billion. Volumes rose 7%, and selling prices, 4%. Raw material prices continue to rise, and Ebitda margins declined during the quarter compared to year-ago levels reflecting the lag between the rise in raw material costs and the effect of...
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