Operating income

• In Decorative Paints, operating income was up 7 percent mainly due to the new operating model, lower costs and favorable currency developments
• In Performance Coatings, operating income was up 56 percent driven by cost reductions from performance improvement initiatives, lower costs, favorable product mix, lower restructuring charges and favorable currency developments
• In Specialty Chemicals, operating income was up 4 percent supported by the benefits from further increased production at the new Frankfurt plant, lower costs and operational efficiencies throughout the business

Total restructuring charges in the third quarter amounted to €15 million (2014: €55 million).

Raw material prices were lower, although in certain regions foreign currency effects adversely impacted raw material costs in local currencies.