Performance Coatings – Overview

• Revenue down 1 percent, due to currencies
• Operating income down 5 percent, return on sales at 11.2 percent (2012: 11.6 percent)
• Overall volume flat compared with the previous year
• Continued focus on cost control and operational efficiencies

Revenue declined 1 percent on 2012, with the slowdown in Europe impacting all businesses. Operating income was down by 5 percent due to investments in growth and business excellence initiatives, partially mitigated by margin management and structural cost benefits.

Revenue development Q2 2013