Akzo Nobel 1Q Ebitda Beats Forecasts But Uncertain Environment Remains

   By Ian Walker 
 

Paints and specialty chemicals firm Akzo Nobel N.V. (AKZA.AE) Tuesday reported a 5% rise in first quarter earnings before interest, taxes, depreciation and amortization, slightly above consensus forecasts, but said the market environment remains uncertain with challenging conditions.

The Amsterdam-based company, which lists Dulux, Sikkens, Interpon and Eka among its brands, added that it grew volumes in all business areas and continued to improve profitability. However, deflationary pressures and currency headwinds are expected to continue, it warned.

For the quarter ended March 31 Akzo said Ebitda rose to 487 million euros ($551.28 million) from EUR462 million a year earlier, on revenue of EUR3.43 billion and EUR3.59 billion respectively. This compares with consensus forecasts of EUR482.5 million and EUR3.53 billion, respectively, taken from the company's website and based on 16 analysts forecasts.

Net profit rose to EUR240 million from EUR160 million.

-Write to Ian Walker at [e-mail]; @IanWalk40289749

(END) Dow Jones Newswires

April 19, 2016 01:50 ET (05:50 GMT)

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