Paint and coatings group AkzoNobel said on Wednesday it had booked a 5% increase in 2012 full-year sales, driven by favourable currency effects and higher prices.
The company booked a full year operating loss of €1.2bn, due to a third quarter charge of €2.1bn, which derived from its decorative paints division. Without the charge, the company would have booked net profit of €862m.
In the fourth quarter of 2012, AkzoNobel booked a loss of €59m, compared with a loss of €68m in the final quarter of 2011.
The company will ‘continue to focus on performance improvements and operational efficiencies’ in 2013, the CEO said.