• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Research
    • Markets & Technologies
    • Raw Materials
    • Top Companies
    • Directories
    • Jobs
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Research
  • Markets & Technologies
  • Raw Materials
  • Top Companies
  • Directories
  • Jobs
  • Events
  • Microsites
  • Current / Back Issues
    Features
    Business Corner
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    World Reports
    eBook
    Top Features
    Pigments Market

    The Architectural Paint Market Enjoys a Strong 2022

    The Buyers’ Guide

    Auto Refinish Market

    The 2022 Protective Additives Directory
    Breaking News
    Online Exclusives
    Distributor News
    Financial News
    Paint & Coatings Manufacturer News
    People In the News
    Price Increases
    Product News
    Raw Materials & Equipment
    Video Bites
    Suppliers News
    Live From Shows
    Top News
    Personnel Changes at BASF

    Dr. Kurt Wood to Deliver Mattiello Memorial Lecture at ACA’s 2023 CoatingsTech Conference

    hubergroup Chemicals to Debut at the European Coatings Show

    PPG Supports Finnish Science Centre Heureka and ‘Power of Play’ Exhibition

    Perstorp Sets Reduction Targets for Water and Waste
    Top Companies report
    Market Research
    White Papers / Tech Papers
    Technical Papers
    Product Spec Sheets
    World Reports
    Adhesives and Sealants
    Aerospace Coatings
    Architectural Coatings
    Automotive Coatings
    Automotive Refinish
    Business Operation
    Color Trends & Forecast
    Construction Chemicals
    Corrosion Control
    Industrial Coatings
    Laboratory Equipment
    Marine Coatings
    Market Trends & Forecast
    Powder Coatings
    Production Equipment
    Radcure Coatings
    Special Purpose Coatings
    Wood Coatings
    "Green" Coatings

    PPG Completes COLORFUL COMMUNITIES Project in Denmark

    PPG’s SEM Products Business Launches VCS Hybrid Cup System for the Refinish Market

    Mankiewicz Selects ‘Feel Good’ Hues for 2023 Colors of the Year

    ROSS Offers Heavy-Duty Three Roll Mills for High Viscosity Dispersions

    PPG Achieves ISO 14001 Certification of Environmental Management System
    Additives
    Binders
    Pigments
    Solvents

    SAFIC-ALCAN to Distribute Scott Bader Acrylics & Rheology Modifiers in France

    EPS Launches New Acrylic DIrect-to-Metal Polymer

    Evonik, Partners Launch PlasCO₂ Project for C4 Chemicals Production

    Dr. Ranjini Murthy to Join Azelis Americas as SVP of Commercial and Digital Excellence

    Univar Solutions Announces New Distribution Relationship
    Company Capabilities
    Buyers Guide
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    Siltech Corporation

    Shepherd Color Company, The

    Arkema

    W. R. Grace & Co.

    Clariant Additives
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    Saudi Arabia Coatings Show

    Southern Society for Coatings Technology Annual Meeting and Technology Conference

    Eastern Coatings Show

    CPCA Annual Conference

    66th Annual Sink or Swim
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    Siltech Corporation

    Shepherd Color Company, The

    Arkema

    W. R. Grace & Co.

    Clariant Additives
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Business Corner
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directories
      • Buyers Guide
      • Distributor Guide
      • Corporate Capabilities
      • Trade Associations
      • Add Your Company
    • Markets & Technologies
      • Adhesives and Sealants
      • Aerospace Coatings
      • Architectural Coatings
      • Automotive Coatings
      • Automotive Refinish
      • Business Operation
      • Color Trends & Forecast
      • Construction Chemicals
      • Corrosion Control
      • Industrial Coatings
      • Laboratory Equipment
      • Marine Coatings
      • Market Trends & Forecast
      • Powder Coatings
      • Production Equipment
      • Radcure Coatings
      • Special Purpose Coatings
      • Wood Coatings
      • "Green" Coatings
    • Raw Materials
      • Additives
      • Binders
      • Pigments
      • Solvents
    • World Reports
      • Africa Report
      • China Report
      • India/Asia Pacific Report
      • Europe Report
      • Latin America Report
      • Market Research
      • Russian Report
    • Top Companies
    • Online Exclusives
    • Glossary
    • Slideshows
    • Experts Opinions
    • Blog
    • eBook
    • Infographics
    • Videos
    • Podcasts
    • Whitepapers
    • Jobs
    • Microsites
      • Companies
      • White Papers/Tech Papers
      • Product Spec Sheets
      • Equipment
      • Literature/Brochures
      • Videos
    • Events
      • Industry Events
      • Live From Show Event
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    AkzoNobel Reports Record Profitability in Q1 2017

    ...

    Related Content
    • ICP Group Adds Chris Pappas to Its Board
    • Barentz Announces New Distribution Agreement with Dixie Chemical
    • Nouryon to Build Bermocoll Facility in Southeast Asia to Meet Demand in Coatings End-Market
    • Archroma Names Thomas Bucher as New CFO
    • Nouryon Awarded 2021 EcoVadis Gold Rating for Sustainability Achievements
    04.19.17
    AkzoNobel continues to anticipate positive developments for EMEA, North America and Asia, improving during the year, while Latin America is expected to stabilize. Market trends experienced in the second part of 2016, including for the marine and oil and gas industries, are expected to continue during the first half of 2017.

    The company has structurally improved its ability to respond to developments in its markets and continues taking appropriate measures to deal with higher raw material prices in an inflationary environment. EBIT for 2017 is expected to be around €100 million higher than 2016, as a result of growth momentum and continuous improvement, assuming no material change in market and economic dynamics.

    AkzoNobel CFO Maëlys Castella said of the results: "Our record performance continued this quarter, showing the substantial growth momentum we have across the business. Significant progress continues across all our Business Areas, reflecting both our strong customer focus and great portfolio of brands. We remain focused on increasing returns to shareholders, including a €150 million share repurchase program that began in the quarter. We made another industry-leading commitment to sustainability, announcing our ambition to become carbon neutral by 2050 and use 100% renewable energy. Our R&D efforts will be strengthened with a new innovation hub at Felling in the UK, and we announced more key partnerships for our Human Cities Program around the world. Our strong financial and operational foundation has enabled us to embark on the next phase of our strategy, with a review of options for the separation of the Specialty Chemicals business to further unlock value for shareholders. We look forward to updating the market on our new strategy."

    A breakdown of AkzoNobel's segments is as follows: 

    Decorative Paints: Revenue was up 7%, mainly driven by strong volume growth. Volumes were up 9%, with positive developments in all regions. Volume developments were positive for the sixth consecutive quarter. EBIT increased by 48%, mainly as a result of higher revenue and continued focus on cost measures, while recognizing that Q1 is a seasonally smaller quarter. Communities in more than 40 countries will benefit from a partnership between AkzoNobel and MasterPeace, a global peace movement, to paint 100 "Walls of Connection," part of the company's Let's Colour initiative.

    Performance Coatings: Revenue was up 6%, driven by positive volume development across a number of segments and the acquisition of BASF's Industrial Coatings business. EBIT was up 1%, with positive development in segments including Industrial and Powder Coatings and Automotive and Specialty Coatings offsetting continued weak demand in the marine and oil and gas industries and integration costs. More than 100 scientists will be brought together in a new €12.6 million research and innovation hub in Felling, UK. The facility will focus on developing protective coatings for the energy, mining, infrastructure and oil and gas industries.

    Specialty Chemicals: Revenue was up 7%, due to positive volume developments in all business units and regions and favorable currency effects. Volumes were up 5%, with several businesses benefiting from improved market conditions in the oil drilling, mining, agrochemical and building and construction segments. EBIT increased by 7%, mainly due to improved volumes and operational efficiencies, partly offset by price increases which were not yet fully recaptured through increased selling prices.  AkzoNobel's Imagine Chemistry open innovation challenge generated more than 200 ideas to solve real-life chemistry-related challenges as well as uncovering sustainable commercial opportunities for the Specialty Chemicals businesses.

    Sustainability: AkzoNobel has committed to accelerating its sustainability agenda by announcing a new ambition to use 100% renewable energy and become carbon neutral by 2050. The company was also awarded a top grade on the Influential Supplier Climate A List for its efforts to combat climate change. The Dutch government recognized AkzoNobel's latest contribution to meeting national sustainability targets resulting from investments at its chemicals complex in Rotterdam.

    Human Cities: AkzoNobel joined forces with SOS Children's Villages to drive a positive impact on youth unemployment including professional training through the company's painter academies.
    More than 200 children in Egypt have benefited from a major renovation of their school's facilities by AkzoNobel volunteers. The company's Human Cities projects have touched the lives of more than 9 million people in the past year.

    Innovation: AkzoNobel signed an agreement with specialty chemicals company Itaconix to explore opportunities for the production of bio-based polymers. A new online tool which can track and certify the amount of bio-based raw materials in products was launched as a pilot by AkzoNobel and partners. Another partnership involving AkzoNobel is developing a drone capable of remotely inspecting enclosed spaces, helping to improve safety in the marine and oil and gas industries.
    Related Searches
    • paints
    • paint
    • environment
    • basf
    Suggested For You
    ICP Group Adds Chris Pappas to Its Board ICP Group Adds Chris Pappas to Its Board
    Barentz Announces New Distribution Agreement with Dixie Chemical Barentz Announces New Distribution Agreement with Dixie Chemical
    Nouryon to Build Bermocoll Facility in Southeast Asia to Meet  Demand in Coatings End-Market Nouryon to Build Bermocoll Facility in Southeast Asia to Meet Demand in Coatings End-Market
    Archroma Names Thomas Bucher as New CFO Archroma Names Thomas Bucher as New CFO
    Nouryon Awarded 2021 EcoVadis Gold Rating for Sustainability Achievements Nouryon Awarded 2021 EcoVadis Gold Rating for Sustainability Achievements
    Half-Year Results: ALTANA Posts Double-Digit Growth Half-Year Results: ALTANA Posts Double-Digit Growth
    The ChemQuest Group Acquires Powder Coating Research Group The ChemQuest Group Acquires Powder Coating Research Group
    BASF, SINOPEC to Expand Verbund Site in Nanjing, China BASF, SINOPEC to Expand Verbund Site in Nanjing, China
    LANXESS Completes Acquisition of Emerald Kalama Chemical LANXESS Completes Acquisition of Emerald Kalama Chemical
    Nouryon Opens Eco-friendly Office and Innovation Center in Dubai Nouryon Opens Eco-friendly Office and Innovation Center in Dubai
    ICP Brings on Michael Turner as New CFO ICP Brings on Michael Turner as New CFO
     PPG Appoints Acting Controller; Schaupp to Pursue Outside Opportunity PPG Appoints Acting Controller; Schaupp to Pursue Outside Opportunity
    Megafarma, an Azelis Company, Opens Innovation Center in Mexico City Megafarma, an Azelis Company, Opens Innovation Center in Mexico City
    LSI Launches as an Independent Global Specialty Chemicals Business LSI Launches as an Independent Global Specialty Chemicals Business
    ALTANA Innovation Award 2021 Honors Metallic Effect Pigments Technology for Automotive Market ALTANA Innovation Award 2021 Honors Metallic Effect Pigments Technology for Automotive Market

    Related Breaking News

    • Breaking News | People in the News
      ICP Group Adds Chris Pappas to Its Board

      ICP Group Adds Chris Pappas to Its Board

      Pappas will help guide ICP’s growth into one of the largest coatings and adhesives platforms in the industry.
      09.21.21

    • Breaking News | Distributor News
      Barentz Announces New Distribution Agreement with Dixie Chemical

      Barentz Announces New Distribution Agreement with Dixie Chemical

      Dixie Chemical makes high-performance anhydrides and smart materials for coatings materials and other markets.
      09.08.21

    • Additives | Breaking News | Industry News
      Nouryon to Build Bermocoll Facility in Southeast Asia to Meet  Demand in Coatings End-Market

      Nouryon to Build Bermocoll Facility in Southeast Asia to Meet Demand in Coatings End-Market

      Nouryon expects the final site selection to be made in the fourth quarter of this year, with construction beginning in late 2022.
      08.31.21


    • Breaking News | People in the News
      Archroma Names Thomas Bucher as New CFO

      Archroma Names Thomas Bucher as New CFO

      Roland Waibel will retire effective Oct. 1, 2021.
      08.20.21

    • Breaking News | Industry News
      Nouryon Awarded 2021 EcoVadis Gold Rating for Sustainability Achievements

      Nouryon Awarded 2021 EcoVadis Gold Rating for Sustainability Achievements

      This rating places Nouryon in the top 3% of more than 75,000 companies assessed by the global sustainability ratings provider.
      08.12.21

    Loading, Please Wait..
    Trending
    • Minwax Brand Announces Gentle Olive As Its 2022 Color Of The Year
    • PPG Reports Fourth Quarter, Full-Year 2022 Financial Results
    • 10 Partners Of The Automotive Industry Form JV, Cofinity-X
    • BASF Recognized As Top Company For Supplier Diversity
    • Eastman Acquires Dalian Ai-Red Technology
    Breaking News
    • Personnel Changes at BASF
    • Dr. Kurt Wood to Deliver Mattiello Memorial Lecture at ACA’s 2023 CoatingsTech Conference
    • hubergroup Chemicals to Debut at the European Coatings Show
    • Brilliant Group and Terra Firm Launch Partnership to Expand Market Support
    • PPG Supports Finnish Science Centre Heureka and ‘Power of Play’ Exhibition
    View Breaking News >
    CURRENT ISSUE

    January 2023

    • Pigments Market
    • The Architectural Paint Market Enjoys a Strong 2022
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    ADM Expands Production to Meet Demand for Probiotics
    Wiley’s Finest Debuts Peak DHA Featuring 600 mg of DHA and 300 mg of EPA
    FDA to Allow Qualified CVD Risk Reduction Claim for Cocoa Flavanols in High Flavanol Cocoa Powder
    Coatings World

    Latest Breaking News From Coatings World

    Personnel Changes at BASF
    Dr. Kurt Wood to Deliver Mattiello Memorial Lecture at ACA’s 2023 CoatingsTech Conference
    hubergroup Chemicals to Debut at the European Coatings Show
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Konica Minolta Introduces Mobile X-Ray Systems to Latin America
    NIH MedTech Program Aims to Develop Neurological Treatment Tech
    Formula Plastics Appoints Bill Gerard as President
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Qosina Corp. Names Lee Pochter as Executive Vice President
    Bristol Myers Squibb 4Q Results
    Actinium, NCI Partner to Develop Actimab-A in AML
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Tree Hut Introduces Body Wash Line
    Zara Introduces Mini Artists—Beauty Products for Kids
    L’Oréal USA Taps Stephanie Kramer as Chief Human Resources Officer
    Happi

    Latest Breaking News From Happi

    Arm & Hammer Taps Dave & Jenny Marrs, TikTokers for Budget-Centered 'Give It The Hammer' Campaign
    Meaningful Beauty Age-Proof Hair Care System Now Available on Amazon
    Zotos Expands Biotera Distribution to Target with Ultra Collection
    Ink World

    Latest Breaking News From Ink World

    Siegwerk, Wildplastic, TU-Hamburg Partner on Deinking
    Brilliant Group and Terra Firm Launch Partnership
    hubergroup Chemicals Debuts at the European Coatings Show
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Siegwerk partnership aims to improve plastic waste recyclability
    CELAB-Europe launches new web hub for liner recyclers
    Fujifilm expands RxD inkjet pigment dispersions color range
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Toray to Expand PPS Production in Korea
    Masque Bar Launches Compostable Sheet Masks
    Mark Snider Joins INDA as Chief Market and Industry Analyst
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    Jury Convicts Chiropractor, Orthopedic Surgeon in $31M Fraud Scheme
    Steady Growth Forecast for Global Orthobiologics Market
    ODT's Most-Read Stories This Week—Feb. 4
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    OE-A at LOPEC – Printed Electronics Up Close
    Monthly Recap: LG OLED, Avery Dennison and JOLED Top This Month’s Stories
    ASSA ABLOY Reports Q4 2022 Results

    Copyright © 2023 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login