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CORRECTED-AkzoNobel misses earnings forecast, sticks to 2015 targets
February 12, 2015 / 6:22 AM / in 3 years

CORRECTED-AkzoNobel misses earnings forecast, sticks to 2015 targets

(Corrects in first paragraph and headline to show EBITDA did not exceed but fell short of expectations)

AMSTERDAM, Feb 12 (Reuters) - Dutch paint and chemicals company AkzoNobel said on Thursday it was on track to meet its targets for this year as it posted fourth-quarter earnings figures that fell short of analyst expectations.

The company made earnings before interest, tax, depreciation and amortisation of 330 million euros ($373 million) off revenues of 3.5 billion euros ($3.96 billion).

Analysts polled for Reuters had expected EBITDA of 338 million euros ($382.38 million) and revenues of 3.5 billion euros.

AkzoNobel said raw materials prices, exchange rate movements and slowing growth in emerging markets would shape its performance in 2015, but stuck to its target of achieving 9 percent return on sales and 14 percent return on investment. ($1 = 0.8839 euros) (Reporting By Thomas Escritt; Editing by Anthony Deutsch and Sunil Nair)

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