10.02.2016 07:20:42

Akzo Nobel 2015 Profit Up 79%; But Expects 2016 To Be Challenging - Quick Facts

(RTTNews) - Paints and coatings maker Akzo Nobel NV (AKZOY.PK, AKZOY) reported that its net income attributable to shareholders for fiscal 2015 rose 79 percent to 979 million euros from 546 million euros in the prior year. Looking ahead, the company expects 2016 to be a challenging year.

Adjusted earnings per share for the year were up 43 percent at 4.02 euros, compared to 2.81 euros last year.

Operating income increased 59 percent to 1.57 billion euros, reflecting process optimization, lower costs, reduced restructuring expense, favorable currency developments and incidental items.

Revenue for the year grew 4 percent to 14.86 billion euros from 14.30 billion euros last year, due to 6 percent favorable currency effects, partly offset by divestments and slightly lower volumes.

The company has proposed total dividend for 2015 up 7 percent at 1.55 euros, compared to 1.45 euros in 2014.

CEO Ton Buchner said, "Looking ahead, we expect 2016 to be a challenging year and anticipate limited support from the markets in which we operate."

The company noted that difficult market conditions continue in Brazil, China and Russia. Further, it anticipates no significant improvement in Europe, particularly in the Buildings and Infrastructure segment.

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