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news.AkzoNobel, headquartered in Amsterdam, the Netherlands, a producer of specialty chemicals, has reported a revenue increase of 13% to EUR3.9bn for the second quarter of 2010 and the early achievement of the 14% EBITDA margin target set for the end of 2011.
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Revenue of the specialty chemicals booked double-digit revenue growth of 14%, mainly driven by higher volumes.
EBITDA for the second quarter was EUR614m, 21% higher than in 2009, with total net income up 76% to EUR273m.
Hans Wijers, CEO of Akzo Nobel, said: “Our Q2 results show a further increase of revenue and profitability across each of AkzoNobel’s business areas, evidencing that we are benefiting from the recovery and our on-going restructuring.
”The importance of these markets, which will continue to have a major influence on our activities and strategic agenda, was highlighted by our Q2 performance.
“The 15% volume increase at specialty chemicals also owed much to these higher growth regions.”