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Decorative Paints – Overview


  • Revenue up 7 percent, volumes up 5 percent
  • EBITDA at €82 million (2009: €48 million)
  • EBITDA margin 7.8 percent (2009: 4.9 percent)
  • Ongoing restructuring contributed to better results in the mature economies
  • Significant growth in higher growth markets; mature markets stable
  • An increase of 0.5 percent of sales in advertising and promotion

The Decorative Paints business got off to a good start in 2010, with revenue up 7 percent (including a favorable currency translation effect of 3 percent), due to a 5 percent increase in volume. In growth markets, revenue growth was strong (Asia increased 30 percent), while revenue remained stable in the mature markets compared with the previous year. Synergies and restructuring benefits contributed to better results in the mature economies. The EBITDA margin was 7.8 percent, an improvement compared with the previous year (2009: 4.9 percent) despite severe winter conditions in the Northern Hemisphere and a weak commercial property market. In line with our strategy, we have increased our spend in advertising and promotion by 0.5 percent of sales, to accelerate growth in the key high growth markets.

Decorative Paints – Revenue development Q1 2010 (bar chart)
Decorative Paints – Brands (logos)
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