Outlook

We continue to anticipate positive developments for EMEA, North America and Asia, improving during the year, while Latin America is expected to stabilize. Market trends experienced in the second part of 2016, including for the marine and oil and gas industries, are expected to continue during the first half of 2017.

We have structurally improved our ability to respond to developments in our markets and continue taking appropriate measures to deal with higher raw material prices in an inflationary environment.

We expect EBIT for 2017 to be around €100 million higher than 2016, as a result of growth momentum and continuous improvement, assuming no material change in market and economic dynamics.

Please refer to our website for more information on our ambitions and the strategic focus areas.

Amsterdam, April 19, 2017
The Board of Management