AkzoNobel (AEX)
Akzo Nobel swings to fourth-quarter net loss, sales drop 7%
Feb. 18, 2010, 5:29 a.m. EST · Recommend · Post:
Shares of the Dutch-based paints-and-chemicals firm drop 8% on Euronext
FRANKFURT (MarketWatch) -- Shares of Akzo Nobel N.V. fell 8% on Thursday after the Dutch paints-and-chemicals firm reported a fourth-quarter net loss and warned that the recovery will be fragile and slow.
The company posted a net loss of 60 million euros ($81.2 million) in the fourth quarter of 2009, as a result of ongoing restructuring costs and other incidental items.
That compares with a loss of 1.5 billion euros in the same period a year ago.
Restructuring costs totaled 119 million euros in the fourth quarter, while incidental charges included a fine imposed by the European Commission. Last year, Akzo Nobel laid off 2,980 employees.
Fourth-quarter revenue declined 7% to 3.3 billion euros.
Based in Arnhem, the Netherlands, Akzo Nobel makes a range of paints, coatings and specialty chemicals.
"Our volume development per quarter confirms that the stabilization we reported at the end of the third quarter has continued," said Hans Wijers, chief executive of Akzo Nobel, in a statement. "However, we believe the recovery is fragile and will be slow."
The firm said it remains on track to achieve its medium-term target of an Ebitda margin of 14% by the end of 2011.
The Ebitda margin was 12.7% in 2009 compared with 12.5% the previous year.
Shares of Akzo Nobel dropped 7.7% to 39.40 euros in late-morning trading on Euronext in Amsterdam. They have fallen 10% over the last three months.
Feb. 18, 2010, 5:29 a.m. EST · Recommend · Post:
Shares of the Dutch-based paints-and-chemicals firm drop 8% on Euronext
FRANKFURT (MarketWatch) -- Shares of Akzo Nobel N.V. fell 8% on Thursday after the Dutch paints-and-chemicals firm reported a fourth-quarter net loss and warned that the recovery will be fragile and slow.
The company posted a net loss of 60 million euros ($81.2 million) in the fourth quarter of 2009, as a result of ongoing restructuring costs and other incidental items.
That compares with a loss of 1.5 billion euros in the same period a year ago.
Restructuring costs totaled 119 million euros in the fourth quarter, while incidental charges included a fine imposed by the European Commission. Last year, Akzo Nobel laid off 2,980 employees.
Fourth-quarter revenue declined 7% to 3.3 billion euros.
Based in Arnhem, the Netherlands, Akzo Nobel makes a range of paints, coatings and specialty chemicals.
"Our volume development per quarter confirms that the stabilization we reported at the end of the third quarter has continued," said Hans Wijers, chief executive of Akzo Nobel, in a statement. "However, we believe the recovery is fragile and will be slow."
The firm said it remains on track to achieve its medium-term target of an Ebitda margin of 14% by the end of 2011.
The Ebitda margin was 12.7% in 2009 compared with 12.5% the previous year.
Shares of Akzo Nobel dropped 7.7% to 39.40 euros in late-morning trading on Euronext in Amsterdam. They have fallen 10% over the last three months.
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AkzoNobel (AEX)
A AkzoNobel apresentou resultados negativos no passado dia 24, mas o título continua a manter intacto um trading range com quase 3 meses de duração.
Neste momento o título está a testar o seu suporte na zona dos € 26,70 que, caso resulte numa reacção positiva, poderá levar o título a testar a sua resistência na zona dos € 33,00.
Apesar dos resultados negativos, o título não despencou e segue mais ou menos flat, o que indica uma certa indecisão por parte dos investidores. A sua zona actual de suporte servirá como um bom termômetro.
Um título a ter em atenção ao longo dos próximos dias.
AkzoNobel swings to quarterly net loss
Neste momento o título está a testar o seu suporte na zona dos € 26,70 que, caso resulte numa reacção positiva, poderá levar o título a testar a sua resistência na zona dos € 33,00.
Apesar dos resultados negativos, o título não despencou e segue mais ou menos flat, o que indica uma certa indecisão por parte dos investidores. A sua zona actual de suporte servirá como um bom termômetro.
Um título a ter em atenção ao longo dos próximos dias.
AkzoNobel swings to quarterly net loss
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