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Performance Coatings – Overview

  • Revenue increased 4 percent, volumes up 2 percent
  • Ongoing price increases offset by higher raw material cost
  • EBITDA margin at 13.0 percent (2010: 15.2 percent)
  • The Marine and Wood Finishes segments impacted by weaker economic conditions
  • Recent acquisitions contributed positively to results

Against a strong prior year, Q2 revenue was up 4 percent, positively supported by a 2 percent volume increase, a 3 percent price increase, and 3 percent acquisition growth. However, it was negatively impacted by currencies by 4 percent. Revenue growth was balanced across all regions. Volumes increased in all major business segments with the exception of Wood Finishes and Adhesives, which has significant exposure to the US housing market. Selling prices are being increased in response to the continuous rise in raw material prices, with Marine being the hardest-hit segment. During the quarter, raw material price increases had a negative impact on margins. Cost control and restructuring efforts in mature markets are ongoing and continue to support performance. We continue to invest in growth plans in support of our medium-term growth strategy. EBITDA for the second quarter was €170 million. EBITDA margin was 13.0 percent (2010: 15.2 percent).

Revenue development Q2 2011

Performance Coatings – Revenue development Q2 2011 (bar chart)
Performance Coatings – Key brands (logos)
Copyright © 2011 Akzo Nobel N.V.