AKZA Akzo Nobel NV

   By Oliver Griffin 
 

Akzo Nobel NV (AKZA.AE) said on Thursday that it expects full-year earnings before interest and taxes to grow 1.5%, and that its transformation into a paints and coatings company was progressing well.

The Dutch company said that it expects Ebit for FY 2017 to grow to 1.53 billion euro ($1.89 billion) from EUR1.50 billion in 2016. Revenue is expected to grow 3% to EUR14.58 billion, Akzo Nobel said.

Last year, Akzo Nobel said it would separate from its specialty chemicals segment, either through a private sale or a demerger.

The company said the separation with its specialty chemicals business should be completed in April this year.

Akzo Nobel said that it was on track to achieve EUR110M in savings in 2018, which would contribute to delivering its 2020 financial guidance.

The company said it will publish its 2017 and fourth-quarter results on March 8, 2018. This is later than previous years due to the financial reporting process relating to the separation of specialty chemicals, it said.

Write to Oliver Griffin at oliver.griffin@dowjones.com

(END) Dow Jones Newswires

February 08, 2018 01:46 ET (06:46 GMT)

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