AKZOY Akzo Nobel NV (QX)

By Ian Walker

Akzo Nobel NV (AKZA.AE) on Wednesday reported a 15% fall in second-quarter net profit, mainly due to the sale of its specialty chemicals unit last year.

The Dutch paints-and-coatings company made a profit of 231 million euros ($257.4 million), down from EUR271 million for the same quarter in 2018. On a continued basis, net profit was EUR215 million compared with EUR107 million.

Revenue was EUR2.45 billion compared with EUR2.45 billion for the second quarter of 2018 and consensus forecasts of EUR2.46 billion, taken from the company's website.

Adjusted earnings before interest, taxes, depreciation and amortization--one of the company's preferred metrics, which strips out exceptional and other one-off items--was EUR394 million compared with EUR285.0 million and consensus forecasts of EUR368.5 million, also taken from the company's website.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

July 24, 2019 01:32 ET (05:32 GMT)

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