TiO2 prices hit Q1 AkzoNobel revenues

• Autores: William Clarke
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 602, 2018 (Ejemplar dedicado a: Mayo - Junio)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Despite the implementation of product price rises, the company has been struggling with rising raw material costs with headwinds expected to continue in 2018.

    The higher cost of raw materials such as titanium dioxide and a fall in shipments of marine and oil and gas coatings hit AkzoNobel’s first-quarter revenues, it said.

    Although the average selling price for its coatings products was up by 3% year on year in the first three months of 2018, revenues fell 8% to €2.16 billion ($2.64 billion) thanks to currency effects and a 3% drop in volumes.

    “Volumes in marine coatings continued to be affected by the slowdown in new-build activity, despite some recovery in other segments,” AkzoNobel said. “Protective coatings volumes decreased due to fewer oil & gas projects.” The company’s net income from continuing operations fell by 6% - the high price of raw materials, such as titanium dioxide, continued to weigh on profits.

    “Headwinds experienced during 2017 - including higher raw materials costs and adverse effects from foreign currencies - are projected to continue in 2018, especially [at] the start of the year,” AkzoNobel said.