Performance Coatings – Overview
- Revenue up 8 percent due to favorable currencies and price/mix offsetting lower volumes
- Operating income up 35 percent due to the simplified structure and processes, improvement actions and reduced restructuring expenses
- ROS increased to 11.9 percent (2014: 9.6 percent); ROI increased to 22.9 percent (2014: 21.4 percent)
- Delayered and simplified business structure generating lower costs
Revenue was up in all businesses, benefiting from favorable currency effects. Volume was up in Automotive and Specialty Coatings and down in the other businesses. Volumes increased in North America, but declined in other regions, with performance across segments mixed regionally. Operating income was up 35 percent due to cost reductions generated by improvement activities, including the simplification of the business structure, cost control measures and currencies.