Dutch paints and coatings maker Azko Nobel reported weaker-than-expected revenues on Wednesday, as lower volumes and adverse currency effects hit sales in the third quarter. The company reported a net revenue of 2.33 billion euros ($2.69 billion), missing Reuters expectations of 2.48 billion euros. Meanwhile, Akzo Nobel's third-quarter core profit rose 8 percent to 243 million euros, underpinned by higher prices and costs savings. When asked whether Akzo Nobel's third quarter results had helped bring a feeling of harmony among the company's executives and its shareholders, CEO Thierry Vanlancker told CNBC: "If you look at our third quarter, I think we do show significant improvement — I mean there are big headwinds on currency and on raw materials — but the fact that we deliver a stronger third-quarter result is significant proof that we are working on it."

Shares bounce

Earlier this year, Akzo Nobel sold its Specialty Chemicals division for 10 billion euros to Carlyle Group after it rejected an unwanted takeover offer from U.S. rival PPG Industries in 2017. At the time, the company vowed to increase its return on sales to 15 percent by 2020 and to improve the return on investments to above 25 percent. In the company's earnings report, Vanlancker said the company was still on course to meet these targets, although the numbers stood at 10.4 and 12.6 percent respectively in the third quarter.