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Performance Coatings – Overview


  • Revenue €1,239 million, up 18 percent (2009: €1,051 million)
  • Demand improved in all businesses, with volumes up 5 percent
  • EBITDA €166 million (2009: €169 million)
  • EBITDA margin of 13.4 percent (2009: 16.1 percent), impacted by raw material prices
  • Integration of acquired activities progressing well

Performance Coatings saw strong revenue growth of 18 percent supported by the acquired powder coatings activities (5 percent) and a favorable currency translation impact (8 percent). Volumes increased in all businesses, especially in the high growth markets. The strongest increase was evident in Powder Coatings, and the lowest in the late-cycle Marine, deep sea maintenance, and Protective, oil and gas segment. In the quarter, some of our raw materials have had significant cost increases. To mitigate these, our margin management programs are ongoing and restructuring efforts continue to support performance. EBITDA was €166 million, with an EBITDA margin of 13.4 percent (2009: 16.1 percent). In Q3, Industrial Coatings acquired the Lindgens Metal Decorating business and Car Refinishes acquired the Changzhou Prime Automotive Paint Co., Ltd business in China on October 1.

Revenue development Q3 2010

Performance Coatings – Revenue development Q3 2010 (bar chart)
Performance Coatings – Brands (logos)
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