Headwinds experienced during 2017, including higher raw material costs and adverse effects from foreign currency, are projected to continue in 2018, especially during the start of the year.

We anticipate ongoing positive developments for Decorative Paints in all regions, particularly Asia. Trends for Performance Coatings are expected to be positive for most segments and regions, while still challenging for Marine and Protective Coatings.

We continue implementing various measures to mitigate current market challenges, including increased selling prices and cost discipline. Our “Winning Together – 15 by 20” strategy will create a focused Paints and Coatings Company and deliver our 2020 guidance.

Please refer to our website for more information on our ambitions and the strategic focus areas.

Amsterdam, March 8, 2018
The Board of Management