Coatings specialist, Axalta has recorded third quarter net sales up 3.1% to US$1bn, with adjusted EBITDA of US$217m with Adjusted EBITDA margin of 21.7% versus 20.6% in Q3, 2014.
“Axalta produced a solid third quarter, including ongoing volume growth and margin expansion, which enabled us to exceed the mid-point of our adjusted EBITDA guidance for the period,” said Axalta chairman and CEO, Charles Shaver.
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“This result was delivered notwithstanding persistent foreign exchange headwinds for our global businesses, which masked otherwise strong profit growth in nearly all segments and regions.
“Although we also faced some challenges in the quarter from the slowdown in the Chinese economy, including automotive end-markets, we are encouraged demand indicators now show signs of recovery.”
“Regarding our 2015 operating and financial goals, we are pleased with the progress we have made to date, and we continue to execute our plan in a disciplined way with the goal of creating shareholder value through profitable revenue growth, strong cash generation, and effective capital allocation.”
