International. Akzo Nobel reported a strong first quarter, with positive performance in all three business areas, despite a challenging market environment. First quarter operating income increased 42% to €306 million (€), reflecting the effects of process optimization efforts, reducing restructuring, cost and favorable currency effects expenses.
Revenue of €3,591 million was up 6% compared to the same period last year. An 8% impact on conversion effects was offset by lower volumes, reflecting a slow start to the year. Profitability improved, with sales performance at 8.5% compared to 6.4% last year.
Decorative paints achieved solid profitability growth, with increase and gains in operating income. Revenue increased by 3% compared to 2014, due to a favorable exchange effect of 7%, but was offset by an adverse volume impact and by the sale of German stores.
