The net profit of global paints and coatings company AkzoNobel increased in the third quarter of 2014 due to higher operating income and lower finance expenses, the Dutch company announced on Tuesday.
Net profit attributable to shareholders grew by 32 percent from 155 million euros in the third quarter of 2013 to 205 million euros (261 million U.S. dollars) in Q3 this year. EBITDA (earnings before interest, taxes, depreciation and amortization) amounted to 487 million euros, up 7 percent year-on-year.
The operating income also rose by 11 percent from 303 million euros in Q3 last year to 335 million euros in the third quarter of 2014. This increase was, according to AkzoNobel, boosted by operational efficiency programs and lower restructuring charges
Revenue fell by 2 percent from 3.778 billion euros in the third quarter of 2013 to 3.686 billion euros in the same period of 2014. This decline was, according to the Dutch company, caused by negative currency effects and divestments.