AMSTERDAM (dpa-AFX) - Dutch paints and chemicals maker Akzo Nobel N.V. (AKZA.AS, AKZOY) reported that its third-quarter net income attributable to shareholders declined to 164 million euros from 220 million euros in the same quarter last year.
Earnings per share from total operations were 0.89 euros down from 1.15 euros in the prior year.
Adjusted earnings per share from continuing operations declined to 0.93 euros from 1.30 euros in the previous year.
But revenue for the quarter grew about 6% to 2.41 billion euros from 2.28 billion euros in the previous year, driven by pricing initiatives.
AkzoNobel targets to grow at least in line with its relevant markets. Trends differ per region and segment, with significant raw material cost inflation and supply constraints expected to continue through mid-2022.
The company said it is confident in the 2 billion euros EBITDA target for 2023, in line with its Grow & Deliver strategy.
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