Paint and chemicals group Akzo Nobel has strengthened considerably operating income in the second quarter of 2015 through efficiency, lower costs and restructuring expenses, divestitures and favorable currency effects. The operating result for the second quarter of 2015 by 38% compared to the same period in 2014 and amounted to € 486 million.
In recent years, AkzoNobel has assumed office in 2012, under the new CEO Ton Büchner substantial cut in its activities, to boost the poor profitability of the group. That meant considerably high restructuring costs in 2013 € 348 million and € 253 million last year. This year and the coming years is expected to continue to restructure the group.
Currency effects
The return on sales increased from 9.5% in 2012 to 12.3% today. Adjusted earnings per share rose 37% to € 1.30. The turnover of the producer of paint brands as Flexa increased by 6% to € 3.9 billion, thanks to favorable currency
” The second quarter continued to show the positive effect of our focus on profitability and leadership position in sustainability, “Buchner said in a statement. “The world economy continues to be challenging and shows a very mixed picture with a dynamic which varies by region and customer segment.
Europe
Akzo Nobel also states that the European market does not improve. Market conditions in many other countries including Russia, Brazil and China remain challenging. Only on the US market, the company is positive.
Büchner says AkzoNobel is on track to achieve the 2015 targets.
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