Performance Coatings – Overview

• Revenue down 3 percent, primarily due to volume decline in certain markets
• Operating income up 2 percent, return on sales at 9.7 percent (2012: 9.3 percent)
• Ongoing focus on cost control and operational efficiencies

Revenue declined 3 percent compared with the previous year. The slowdown in Europe impacted all businesses. ROS% improved due to a combination of margin management activities, ongoing cost control and restructuring.

Revenue development Q1 2013