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Financial highlights


Revenue was up 6 percent, mainly driven by pricing actions to offset higher raw material costs. However, weaker end markets and cost inflation adversely impacted our results, with EBITDA 3 percent lower at €423 million. Cash from operating activities was impacted by a one-time pension payment and the seasonal build-up of operating working capital. The performance improvement program is on track.

Continuing operations before incidentals

 

1st quarter

 

 

 

 

in € millions

 

2011

 

2012

 

Δ%

Revenue

 

3,762

 

3,972

 

6

EBITDA

 

437

 

423

 

(3)

EBITDA margin (in %)

 

11.6

 

10.6

 

 

EBIT

 

289

 

255

 

(12)

EBIT margin (in %)

 

7.7

 

6.4

 

 

Moving average ROI (in %)

 

10.9

 

8.4

 

 

Operating ROI (in %)

 

27.6

 

20.8

 

 

Adjusted earnings per share (in €)

 

0.72

 

0.63

 

 

 

 

 

 

 

 

 

After incidentals

1st quarter

 

 

 

 

in € millions

 

2011

 

2012

 

Δ%

Operating income

 

277

 

191

 

(31)

Net income from continuing operations

 

132

 

70

 

 

Net income from discontinued operations

 

(4)

 

1

 

 

Net income total operations

 

128

 

71

 

 

Earnings per share from continuing operations (in €)

 

0.57

 

0.30

 

 

Earnings per share from total operations (in €)

 

0.55

 

0.30

 

 

 

 

 

 

 

 

 

Capital expenditures

 

130

 

143

 

 

Net cash from operating activities

 

(519)

 

(761)

 

 

Interest coverage

 

5.9

 

4.5

 

 

Invested capital

 

13,013

 

14,681

 

 

Net debt

 

1,578

 

2,860

 

 

Number of employees

 

56,100

 

57,320

 

 

Copyright © 2012 Akzo Nobel N.V.