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Markets :: Specialty Chemicals :: Paints and Coatings

AkzoNobel's Third-Quarter Earnings Rise on Improved Volumes

3:38 AM MDT | October 21, 2010 | Kerri Walsh

 AkzoNobel today reported higher third quarter sales and profits compared to year-ago levels because of strong volume growth in emerging markets. Revenue growth "remains weak" in mature markets, Akzo says. Net income rose 21%, to €328 million, on sales up 13%, to €3.9 billion. Ebitda increased 9%, to €574 million, but the Ebitda margin slipped 0.6 percentage points, to 14.8% because of increasing raw material costs, says CFO Keith Nichols.  "Our third-quarter results clearly illustrate that, in line with our recently...

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