Akzo Nobel Turns To Profit In Q4 - Quick Facts

(RTTNews) - Dutch paint maker Akzo Nobel N.V. (AKZOY.PK) posted fourth-quarter 2013 net income attributable to shareholders, including impairment, of 51 million euros, as against a loss of 27 million euros, a year before. Quarterly earnings per share from total operations amounted to 0.21 euros, versus a 0.11 euros loss last year. However, on an adjusted basis, loss per share for the tri-monthly period was 0.01 euros.

Revenues for the fourth quarter of 2013 dropped to 3.48 billion euros, from the prior-year figure of 3.67 billion euros.

Further, AkzoNobel added that, in 2014, it would continue to significantly restructure to reduce costs further and anticipates related restructuring charges of at least 250 million euros. Going forward, the company said it is on track to deliver its 2015 targets of ROS at 9.0 percent and ROI at 14.0 percent with a net debt/EBITDA ratio lower than 2.0.

In addition, the firm woud propose a 2013 final dividend of 1.12 euros per share, which would make a total 2013 dividend of 1.45 euros per share.