Akzo Nobel‘s revenue increased in the third quarter, aided by consistent performance across its business sectors.
Overall, Akzo saw revenues increase 3% year-on-year to €3.7bn, with revenue from decorative paints and performance coatings remaining stable and speciality chemicals up 9%.
However, net income was down 23% to €157m, which the company put down to increasing incidental charges of €79m and €72m of other costs.
“All three business areas achieved underlying growth,” said chief financial officer Keith Nichols.
“This is solid proof of the strong positions Akzo Nobel holds in diverse, highly attractive predominantly low-cyclical sectors with good growth potential.”
Akzo Nobel reiterated that it expects EBITDA for 2008, excluding incidentals, to be broadly in line with the pro forma results of €1.87bn recorded in 2007.
