AkzoNobel reports positive growth

AkzoNobel has reported positive volume growth and an improvement in return on sales (ROS) for the full-year 2014. Excluding incidentals, ROS was 7.5% (yr-on-yr 6.1%).

Operating income excluding incidentals grew 20% to €1072M (€897M), reflecting higher benefits from on-going operational efficiency programmes and lower restructuring charges, offset by higher adverse incidental items. Net income attributable to shareholders was €546M (€724M, which includes exceptional items). Revenue for the full year declined 2%, with volume up 1% in all business areas, more than offset by negative currency effects and divestments.

CEO Ton Büchner commented: "For the full year we achieved further improvements in our operational performance, visible in our return on sales and return on investment levels. The introduction of several commercial excellence initiatives will help us drive organic growth going forward.

"2014 was challenging, evidenced by negative currency effects, a continued lack of growth in Europe and a slowdown in some of the Asian and Latin American economies. During the year, we continued to build a solid foundation and remain on track to deliver on our 2015 targets.”