AkzoNobel: stock down following quarterly results

(CercleFinance.com) - AkzoNobel shares are down 2% in Amsterdam today, after the group reported Q2 adjusted EPS from continuing operations that is down 30% to 0.
84 euro, as well as an adjusted operating margin that was less than half its previous level at 7.2%.

Nevertheless the Dutch paints and coatings manufacturer's sales increased 14% to 2.85 billion euros, including a 10% increase excluding currency effects, as price increases offset lower volumes.

AkzoNobel says it intends to continue to compensate for cost inflation through price measures, while pointing to increased macroeconomic uncertainties with geopolitical tensions, the resurgence of Covid-19 and inflation.


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