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2015-04-21

Akzo Nobel NV: AkzoNobel publishes Q1 2015 results

April 21, 2015

Solid first quarter for AkzoNobel

* Operating income up 42 percent at €306 million (2014: €216 million),
reflecting the effects of process optimization, reduced restructuring
expenses, lower costs and favorable currencies
* Revenue up 6 percent due to 8 percent favorable currency effects
* Improved performance with ROS at 8.5 percent (2014: 6.4 percent); and ROI
at 10.6 percent (2014: 9.7 percent)
* Net income attributable to shareholders up 24 percent at €160 million
* Adjusted EPS up 25 percent at €0.76 (2014: €0.61)
* Net cash outflow from operating activities was €622 million (2014: €552
million)
* Overall market conditions remain challenging
* On track to deliver 2015 targets

Q1 2015 in € million

----------------------------------------------------------------------
| Q1 2014 Q1 2015 delta % |
| Revenue 3,383 3,591 6 |
| Operating income 216 306 42 |
| Return on sales (ROS) % 6.4 8.5 |
| EBITDA 364 462 27 |
| Net income attributable to shareholders 129 160 24 |
----------------------------------------------------------------------
Akzo Nobel N.V. (AKZA.AS; AKZOY) today reported a solid first quarter with
positive developments in all three Business Areas despite a challenging
market environment.

First quarter operating income increased 42 percent to €306 million,
reflecting the effects of process optimization efforts, reduced restructuring
expenses, lower costs and favorable currency effects. Revenues of €3,591
million were up 6 percent compared with the same period last year - an 8
percent impact of currency translation effects was offset by lower volumes,
reflecting a slow start to the year. Profitability improved, with return on
sales at 8.5 percent compared with 6.4 percent last year.

CFO Maëlys Castella:

"Our results for the first quarter demonstrate that AkzoNobel is continuing to
deliver an improved performance in a challenging economic environment. Our
strategy is working, and its positive effects are becoming increasingly
visible in our results. We continue to build on this strong foundation to
further increase our profitability and we remain on track to deliver our 2015
targets."

Decorative Paints
achieved a solid growth in profitability, with operating income and revenue
both increasing. Revenue was up 3 percent compared with 2014, due to a 7
percent favorable currency effect, but offset by an adverse volume impact and
the sale of the German stores. Operating income showed a clear improvement
with an increase of 194 percent, mainly due to the benefits of our new
operating model in Europe, strict cost containment, lower restructuring costs
and favorable currency developments. Volumes for the first quarter were up in
Latin America, but down in Asia and Europe due to a slow start of the season.

Performance Coatings
continued to benefit from the delayering and simplification of its business
structure. Revenue was up in all businesses, benefiting from favorable
currency effects and price/mix. Operating income increased 35 percent due to
cost reductions generated by improvement activities, including the
simplification of the business structure, cost control measures, currencies
and lower restructuring expenses. Volumes increased in North America but
declined in other regions, with performance across segments being mixed
regionally.

Specialty Chemicals
further improved its profitability. Revenue was up 6 percent as a result of
favorable currency effects. Operating income rose 21 percent versus last year
due to continuous improvement measures, cost focus, lower restructuring costs
and favorable currency developments. Volumes were flat overall, with a mixed
and volatile picture across segments and regions. Volumes in the US continued
to perform well, while there was more modest growth in China.

Outlook

We anticipate that exchange rate movements and lower growth rates in high
growth economies will principally determine the dynamics of 2015. The
preparations made in 2013 and 2014 form a sound basis for improved
performance. AkzoNobel remains on track to deliver its 2015 targets*.

Business Area highlights
in € million

Decorative Paints

------------------------------------------------
| Q1 2014 Q1 2015 delta% |
| Revenue 865 890 3 |
| Operating income 17 50 194 |
| ROS % 2.0 5.6 |
| EBITDA 56 88 57 |
| Performance Coatings |
| Q1 2014 Q1 2015 delta% |
| Revenue 1,319 1,430 8 |
| Operating income 126 170 35 |
| ROS % 9.6 11.9 |
| EBITDA 163 206 26 |
| Specialty Chemicals |
| Q1 2014 Q1 2015 delta% |
| Revenue 1,222 1,296 6 |
| Operating income 135 163 21 |
| ROS % 11.0 12.6 |
| EBITDA 204 242 19 |
------------------------------------------------
* Overall targets for the full year 2015 are 9.0 percent return on sales and
14.0 percent return on investment

The Q1 2015 report can be
downloaded via the AkzoNobel Report iPad app
http://bit.ly/obljrfor
read online at
www.akzonobel.com/quarterlyresults.

- - -

AkzoNobel is a leading global paints and coatings company and a major producer
of specialty chemicals. Calling on centuries of expertise, we supply
industries and consumers worldwide with innovative products and sustainable
technologies designed to meet the growing demands of our fast-changing
planet. Headquartered in Amsterdam, the Netherlands, we have approximately
46,000 people in around 80 countries, while our portfolio includes well-known
brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently
ranked as one of the leaders in the area of sustainability, we are committed
to making life more liveable and our cities more human.

Not for publication - for more information

-----------------------------------------------------------
| Corporate Media Relations Corporate Investor Relations |
| T +31 (0)20 - 502 7833 T +31 (0)20 - 502 7854 |
| Contact: Diana Abrahams Contact: Lloyd Midwinter |
-----------------------------------------------------------
Safe Harbor Statement

This press release contains statements which address key issues such as
AkzoNobel's growth strategy, future financial results, market positions,
product development, products in the pipeline and product approvals. Such
statements should be carefully considered, and it should be understood that
many factors could cause forecasted and actual results to differ from these
statements. These factors include, but are not limited to, price
fluctuations, currency fluctuations, developments in raw material and
personnel costs, pensions, physical and environmental risks, legal issues,
and legislative, fiscal, and other regulatory measures. Stated competitive
positions are based on management estimates supported by information provided
by specialized external agencies. For a more comprehensive discussion of the
risk factors affecting our business please see our latest annual report, a
copy of which can be found on our websitewww.akzonobel.com

Photo Maëlys Castella, CFO AkzoNobel
http://hugin.info/130660/R/1912692/682803.jpeg
Infographic
http://hugin.info/130660/R/1912692/682801.pdf
Q report
http://hugin.info/130660/R/1912692/682802.pdf
Press release AkzoNobel Q1 2015 results
http://hugin.info/130660/R/1912692/682800.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Akzo Nobel NV via Globenewswire

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