Akzo Nobel, the Dutch industrial and household chemicals group, looked set for a volatile open after reporting third-quarter earnings of €383m (£341.8m) that failed to match market expectations.
The company, which makes Dulux paint, said its results had been "impacted by unfavourable currencies, temporary disruption to the manufacturing and supply chain, continued headwinds for marine and protective coatings and margin pressure from raw materials cost inflation".
But revenues and volumes were higher, and the company announced plans to deliver €110m in cost savings in 2018.
Here's the Q3 highlights:
- Revenue up 1% to €3.6bn, mainly due to volume growth and acquisitions
- Volumes 2% higher driven by Decorative Paints and Performance Coatings
- Earnings before interest and tax fell 15.4% to €383m - direct impact of €25m related to Hurricane Harvey
- Adjusted earnings per share at €1.07 (2016: €1.20)
The company said it expected industry specific headwinds to continue, including higher raw material prices and challenges for marine and protective coatings.