Akzo Nobel 3Q Revenue in Constant Currencies up 5%

Akzo Nobel reported a more-than-doubled third-quarter net profit and backed the middle range of its full year adjusted Ebitda guidance, while cautioning that the current macro-economic uncertainties are expected to continue and weigh on organic volume.
The Dutch paints company–which houses the Dulux, Polycell and Cuprinol brands–said Wednesday that net income for the quarter was 189 million euros ($200.2 million) compared with EUR84 million for the comparable quarter a year earlier.
Adjusted earnings before interest, taxes, depreciation and amortization–one of the company’s preferred metrics, which strips out exceptional and other one-off items–came to EUR414 million compared with EUR283 million and a consensus of EUR412 million.
For the year as a whole, the company expects adjusted Ebitda to be around EUR1.45 billion, the middle of the previously guided EUR1.40 billion to EUR1.55 billion range.
Revenue fell to EUR2.74 billion from EUR2.86 billion and was up 5% up on a constant-currency basis, driven by pricing as volumes fell. Revenue consensus was EUR2.77 billion.
Write to Ian Walker at ian.walker@wsj.com