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AkzoNobel beats forecasts, expects to meet 2015 targets

Thursday, 6 Feb 2014 | 12:00 AM ET
'Fragile stabilization' in Europe happening: AkzoNobel CEO
Thursday, 6 Feb 2014 | 2:15 AM ET
Ton Büchner, CEO of AkzoNobel, says there is "fragile stabilization" in the European economy but any "disturbance" could set the continent back.

Dutch paints and chemicals company AkzoNobel reported slightly higher-than-expected fourth-quarter earnings on Thursday and said it was on track to meet its 2015 targets even though tough economic conditions and volatile exchange rates are expected to continue this year.

The Dutch paints and chemicals firm reported almost flat quarterly earnings before interest, tax depreciation and amortization (EBITDA) of 208 million euros ($281.5 million) while revenues fell 5 percent to 3.48 billion euros.

Analysts in a poll commissioned by Reuters had forecast EBITDA of 197 million euros on sales of 3.51 billion euros.

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