AkzoNobel (Strawinskylaan, Amsterdam), a supplier of paints, coatings, and specialty chemicals, announced a third quarter net income gain of 30% and a revenue loss of 10% compared to Q3 2008. Revenue for Q3 2009 was €3.639 billion and net income after incidentals was €197 million.
In the Performance Coatings segment, revenue declined 12% as a result of lower demand across all businesses. Volume decreased by 11% in Q3, after experiencing a 19% decline in Q2. The segment saw an EBITDA of €166 million, which is 12% higher than in 2008.
The Specialty Chemicals segment had volumes at 6% below last year, but has increased from the 18% decline in Q2. Revenue decreased by 8% from 2008, and the EBITDA amounted to €220 million, down 9% from 2008.
Revenue in Decorative Paints was down 6% and volume declined 9% compared to 2008. According to the company, the segment is undertaking a major restructuring of the European supply chain.
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