Financial News

Akzo Nobel’s revenues up 12% in

March 19, 2007

Revenues at Akzo Nobel’s Coatings division grew 12% to a record €6,209 million and EBIT before incidentals was up 22% to €518 million. Car refinishes continued its turnaround, with revenues rising four percent. Industrial activities posted double digit revenues growth, while revenues at marine and protective coatings exceeded one billion euros for the first time. Decorative coatings revenues grew by 12% in 2006. This revenue growth could not be translated into similar growth of margins due to price pressure in mature markets. Raw material prices had an impact on most businesses, but this was more than offset by continued restructuring. Four percent of Akzo Nobel’s growth in 2006 was attributed to acquisitions.