Akzo Nobel Reports Profit In Q3 - Quick Facts

(RTTNews) - Akzo Nobel N.V. (AKZOY.PK) reported third-quarter net income attributable to shareholders, including impairment, of 155 million euros, compared to a loss of 2.37 billion euros, last year. Excluding impairment, net income attributable to shareholders was 155 million euros, compared to profit of 110 million euros, last year. Profit before tax for the quarter was 251 million euros, compared to a loss of 1.90 billion euros, last year.

Earnings per share from total operations was 0.64 euros, compared to a loss of 9.94 euros per share, prior year. Adjusted earnings per share was 0.74 euros, flat with a year ago.

Revenues were 3.78 billion euros, 5 percent lower compared with the same period last year. The company said the decrease was a consequence of adverse currency effects and divestments. Lower restructuring costs and higher volumes helped push third-quarter operating income up 22 percent to 303 million euros.

Akzo Nobel said the economic environment remains challenging and the company does not expect an early improvement in the trends faced in its end-user market segments. AkzoNobel expects restructuring charges in the fourth quarter of around 160 million euros. This means that full-year operating income before incidental items is unlikely to exceed 908 million euros, the company said.