AkzoNobel Q2 Profit Flat
AkzoNobel reported that its second-quarter profit from continuing operations was almost flat at €273 million. Earnings per share from continuing operations were €1.07 compared to €1.05 in the previous year quarter.
Net income for the period was €268 million, lower than €273 million in the prior year quarter. Earnings per share from total operations decreased to €1.14 from €1.16 in the same quarter last year.
Adjusted net income for continuing operations was €256 million, compared to €275 million in the same period last year. Adjusted earnings per share for the quarter were 1.09, down from €1.18 in the previous year quarter.
Quarterly revenue rose 5% to €4.1 billion from €3.91 billion last year, driven by volume and price.
Looking ahead, Akzo Nobel expects full-year EBITDA to be at least in line with the prior year, assuming no further deterioration in economic conditions.
