Akzo Nobel N.V (AkzoNobel) today announced its results for the second quarter of 2009. Trading remained tough throughout all of the businesses and, as a result, the company reported a revenue decline of 10 percent to €3,668 million, while EBITDA was €527 million, 9 percent lower.
AkzoNobel’s CEO Hans Wijers commented; “In March, we saw early indications that markets may be stabilizing and we have seen that trend continue into the second quarter. However, this gradual stabilization is at significantly lower levels than 2008. With the exception of some emerging markets, we see little significant recovery of growth. Due to the continuing economic uncertainty, forward visibility still remains limited. Therefore, management actions continue to focus on customers, costs and cash. Our Q2 results show that these actions are beginning to bear fruit.”
More Details