Akzo Nobel Expects 2017 Ebit to Grow 1.5%
February 08 2018 - 2:01AM
Dow Jones News
By Oliver Griffin
Akzo Nobel NV (AKZA.AE) said on Thursday that it expects
full-year earnings before interest and taxes to grow 1.5%, and that
its transformation into a paints and coatings company was
progressing well.
The Dutch company said that it expects Ebit for FY 2017 to grow
to 1.53 billion euro ($1.89 billion) from EUR1.50 billion in 2016.
Revenue is expected to grow 3% to EUR14.58 billion, Akzo Nobel
said.
Last year, Akzo Nobel said it would separate from its specialty
chemicals segment, either through a private sale or a demerger.
The company said the separation with its specialty chemicals
business should be completed in April this year.
Akzo Nobel said that it was on track to achieve EUR110M in
savings in 2018, which would contribute to delivering its 2020
financial guidance.
The company said it will publish its 2017 and fourth-quarter
results on March 8, 2018. This is later than previous years due to
the financial reporting process relating to the separation of
specialty chemicals, it said.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
February 08, 2018 01:46 ET (06:46 GMT)
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