Decorative Paints – Overview

• Full-year revenue up 2 percent driven by favorable currencies and price/mix
• EBITDA 11 percent below the previous year
• Asian revenue growing due to strong volume development in China
• Challenging market conditions continue in Europe and Latin America
• Restructuring activities in Europe continue

Revenue increased 2 percent, mainly due to positive price/mix and favorable currencies. The euro crisis and the general slowdown in global markets continued to affect our business. Volumes were down 2 percent, with Europe and South East Asia experiencing the most significant declines. Restructuring activities continued across Europe. EBITDA for the year was 11 percent lower than the prior year, reflecting weaker demand from our European markets.

Q4 saw similar developments to the full-year. Revenue grew 3 percent, driven by positive volumes and favorable currencies. Volumes were up 2 percent, mainly reflecting China’s performance.

Revenue development 2012

Revenue development Q4 2012