Last price update: 24 Apr 24 18:35 GMT
Akzo Nobel N.V. manufactures and sells paints and coatings throughout the world. Individuals in the building and renovation industry can purchase lacquers, varnishes, dyes, plus a selection of blending machines and tones. Also, the company produces specialized coatings for the protection and development of vessels, cars, aircrafts, yachts, housing products, consumer products, and oil/gas sites. The company, which was once called Akzo NV and later became Akzo Nobel N.V. in 1994, has its headquarters in Amsterdam, The Netherlands and mainly sells its goods under the labels Dulux, International, Sikkens, and Interpon. It began doing business in 1646.
Akzonobel continues to see improving trend in q3 2020. financial results for q3 will be announced on october 21, 2020.. end market demand for DEC orative paints is strong in europe and south america and continues to improve for performance coatings.. based on current trading, total revenue for q3 is expected to be close to previous year in constant currencies..
Akzonobel’ s q2 results show strong focus on margin and cost savings in response to covid 19 headwinds. q2 adjusted eps from continuing operations at eur 0.80 (2019 eur 0.96); eps from total operations at eur 0.68 (2019 eur 1.07). covid 19 will continue to impact second half of 2020. raw material costs are expected to have a favorable impact for second half of 2020. q2 net income attributable to shareholders at 129 million (2019 231 million). company targets a leverage ratio of 1 2 times net debt ebitda by end of 2020 and commits to retain a strong investment grade credit rating. rigorous cash management and strong balance sheet put us in sound position to deal with ongoing uncertainty from covid 19 as we strive to deliver powerful performance as frontrunner in our industry. q2 total cost savings delivered 116 million, of which 38 million structural savings related to transformation initiatives. end q2 net cash from operating activities improved to eur 308 mln (2019 eur 152 mln); maintained a strong balance sheet.
Delivers robust profitability during q2, DES pite covid 19 headwinds. q2 revenue 19% lower at eur 1,987 million (2019 eur 2,451 million). q2 adjusted operating income 238 million (2019 305 million). strong margin management and strict temporary cost saving measures have helped to compensate for lower end market demand. as expected, demand for performance coatings continued to improve during quarter, although remained significantly below previous year, especially for automotive and aerospace related markets. q2 ros , excluding unallocated cost, increased to 14% (2019 13.7%).
Akzonobel weathering covid 19 storm. akzo nobel nv during q1, covid 19 adversely impacted revenue by around minus 5%. akzo nobel nv asia was most affected throughout q1, with other regions impacted only from second half of march onwards. akzo nobel nv demand improved as some lockdown measures started to ease, although revenue for may remained around 20% below 2019.
Reg akzonobel’ s q1 results show 31% profitability improvement, DES pite headwinds from covid 19. q1 adjusted operating income up 31% at eur 214 million. q1 net income from total operations at eur 114 million (2019 eur 65 million). q1 revenue 6% lower and 5% lower in constant currencies(3), with positive price mix of 2% more than offset by 7% lower volumes, mainly due to impact of covid 19. q1 operating income at eur 187 million includes eur 27 million negative impact from ID entified items. q1 transformation and other savings delivered eur 44 million lower costs ( compared with q1 of 2019). q1 adjusted eps from continuing operations up 54% at eur 0.71. q1 return on sales, excluding unallocated costs, increased to 12.4% (2019 9.1%) with price mix up 2%. transformation and other savings delivered eur 44 million lower costs. covid 19 headwinds are increasing for most of world and will have a significant impact during q2. we' ve been forced to pause key parts of our transformation and suspend our 2020 financial ambition. we' re eager to quickly resume our positive momentum once markets normalize ceo. q1 revenue eur 2.06 billion versus eur 2.13 billion seen in refinitiv poll. 408 million of 500 million share buyback program executed during q1 2020. raw material costs are expected to have a moderately favorable impact for the first half of 2020. continued margin management and cost saving programs are in place to address the current challenges.
Akzonobel partners with orange business services to drive digital transformation with secure end to end global connectivity services. akzonobel expands agreement with orange business services to transform global network and security infrastructure, converge information technology operational technology ( it ot) and enhance security.
Focuses on covid 19 response, ready to resume momentum towards winning together 15 by 20 ambition when markets normalize. on coronavirus once markets normalize, akzonobel intends to resume its positive momentum and drive performance in line with industry frontrunners. headwinds related to covid 19 are increasing for most parts of world and will have a significant impact during q2. in china, activity is gradually returning to normal after being significantly impacted in q1. at DEC ember 31, 2019, net cash and cash equivalents were eur 1.2 billion and financial leverage was 0.7 x net debt ebitda. outlook significant market disruption forces us to pause key parts of our transformation and hence to suspend our 2020 financial ambition.
Says acquires full ownership of powder coatings joint venture in turkey. deal will help to consolidate akzonobel’ s position in powder coatings in turkey. says has completed the acquisition of the remaining 25% stake in akzo nobel boya sanayi ve ticaret a. s., a leading powder coatings joint venture in turkey.
Provides update on winning together 15 by 20 and outlines plans for 2020 and beyond. ambitions for 2021 2023 include return on sales ( ros) 50 basis points cagr. revenue growth market cagr ( compound annual growth rate).
