International. Compared to the first quarter of the previous year, AkzoNobel reported a decrease in its revenue of 7%.
The company explains that these results are due to weak demand in European markets and divestment.
Revenues in decorative paintings were down 5%, mainly due to lower volumes in Europe, the effects and the price of foreign exchange. Operating profit of €43 million was higher than in 2012, reflecting lower restructuring expenses and lower costs in mature markets.
Revenue in high-redimiento coatings was down 3%, while the specialty chemicals business was down 11%.
