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Akzo Nobel N.V. (AKZA.AS)

Amsterdam - Amsterdam Delayed price. Currency in EUR
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90.00+1.06 (+1.19%)
At close: 5:35PM CET
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Previous close88.94
Open88.86
Bid0.00 x 0
Ask0.00 x 0
Day's range88.70 - 90.10
52-week range45.73 - 93.10
Volume910,397
Avg. volume522,636
Market cap17.154B
Beta (5Y monthly)1.02
PE ratio (TTM)32.09
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield1.92 (2.16%)
Ex-dividend date23 Oct 2020
1y target estN/A
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Press releases
  • Globe Newswire

    AkzoNobel’s Q2 results show strong focus on margin and cost savings in response to COVID-19 headwinds

    July 22, 2020 AkzoNobel’s Q2 results show strong focus on margin and cost savings in response to COVID-19 headwindsAkzo Nobel N.V. (AKZA; AKZOY) publishes results for second quarter 2020Highlights Q2 2020 * ROS, excluding unallocated costs1, increased to 14.0% (2019: 13.7%) due to strong margin management and cost savings * Headwinds related to COVID-19 eased during the quarter, with revenue almost 30% lower in April and nearly 5% lower in June * Total cost savings delivered €116 million, of which €38 million structural savings related to transformation initiatives * Net cash from operating activities improved to €308 million (2019: €152 million); maintained a strong balance sheetQ2 2020 (compared to Q2 2019) * Revenue 19% lower and 17% lower in constant currencies, with positive price/mix of 2% and 18% lower volumes, mainly due to the impact of COVID-19 * Adjusted operating income2 at €238 million (2019: €305 million); ROS was 12.0% (2019: 12.4%) * Operating income at €207 million includes €31 million negative impact from identified items, related to transformation costs (2019: €308 million, including €3 million positive identified items); OPI margin was 10.4% (2019: 12.6%) * Net income attributable to shareholders at €129 million (2019: €231 million) * Adjusted EPS from continuing operations at €0.80 (2019: €0.96); EPS from total operations at €0.68 (2019: €1.07) AkzoNobel CEO, Thierry Vanlancker, commented: “Despite lower end market demand, our business return on sales increased 30 basis points to 14% for the second quarter as a result of continued focus on margin management and cost-saving measures.“I’m extremely proud of our teams around the world, who have continued to focus on serving our customers and delivered this resilient performance while also helping many communities affected by the pandemic.“Our rigorous cash management and strong balance sheet put us in a sound position to deal with the ongoing uncertainty from COVID-19 as we strive to deliver powerful performance as a frontrunner in our industry.”AkzoNobel in € millions Q2 2019 Q2 2020 Δ% Δ% CC3 Revenue 2,451 1,987 (19%) (17%) Adjusted operating income2 305 238 (22%)   ROS 12.4% 12.0%     ROS, excluding unallocated costs1 13.7% 14.0%     Operating income 308 207 (33%)     Recent highlights Partnership with SOS Children’s Villages extended Our global partnership with SOS Children’s Villages has been extended for another three years. Part of our “Let’s Colour” initiative, the collaboration has already benefited more than 20,000 children and young people all over the world. It will continue to focus on renewing living spaces and offer practical skills training so that young people, families at risk and children without adequate parental care can have a brighter future.Rising to the challenge The outbreak of COVID-19 has not only seen us continue to supply our products to critical industries around the world. Our businesses and employees have also made every effort to support local projects and community initiatives in an effort to help as many people as possible. Dulux gets tough on walls The battle to keep interior walls stain-free has escalated following the launch of Dulux EasyCare+. Reinforced with Scuff Resist technology, the paint forms a durable matt coating, providing extraordinary mechanical strength. So it prevents those familiar battle scars you often get when plastic, rubber or wood is knocked against a wall.Interpon puts the emphasis on hygiene Our Interpon powder coatings continue to make an important contribution to critical industries around the world. We recently expanded our antimicrobial offering (which already includes products for hygiene sensitive environments such as hospitals) by enhancing the functionality of our Interpon D1000 and 2000 range of architectural powder coatings. The inclusion of BioCote® antimicrobial technology means that building interiors can now be given increased protection against microbes such as bacteria and mold – which can cause issues such as bad odors, staining or material degradation.   *BioCote® technology does not protect users or others against disease-causing bacteria, germs, viruses or other harmful organisms. This technology is not a substitute for good hygiene and/or cleaning practices. Innovation out of adversity We received nearly 200 entries for our internal Paint the Future innovation challenge. It aimed to capture some of the creative thinking which emerged over the last few months following the COVID-19 outbreak, as employees improvised and learned to adapt to new and challenging situations. A group of 500 employees from across the company was invited to rate the ideas and drew up the shortlist which was used to determine the winners.  Beaming with pride Our CEO, Thierry Vanlancker, has signed the Declaration of Amsterdam to show AkzoNobel’s support for LGBTI+ inclusion. During the official signing event, he said he wanted everyone working at AkzoNobel to feel at home, and that all employees deserve a workplace where they feel respected and are offered equal opportunities, regardless of sexual orientation, race, gender or nationality. Organized by Workplace Pride, signing the declaration is a visible and very positive way for the company to show its commitment to creating an inclusive environment for everybody.  Outlook: AkzoNobel has suspended its 2020 financial ambition in response to the significant market disruption resulting from the pandemic. COVID-19 will continue to impact the second half of 2020, although demand trends differ per region and segment in an uncertain macro-economic environment. Raw material costs are expected to have a favorable impact for the second half of 2020. Continued margin management and cost-saving programs are in place to address the current challenges. The company targets a leverage ratio of 1-2 times net debt/EBITDA by the end of 2020 and commits to retain a strong investment grade credit rating. The report for the second quarter 2020 can be viewed and downloaded at  https://akzo.no/Q22020-Report          1 ROS excluding unallocated cost is adjusted operating income as percentage of revenue for Decorative Paints and Performance Coatings; it excludes unallocated corporate center costs 2 Adjusted operating income = operating income excluding identified items 3 Constant Currencies calculations exclude the impact of changes in foreign exchange ratesAbout AkzoNobel AkzoNobel has a passion for paint. We’re experts in the proud craft of making paints and coatings, setting the standard in color and protection since 1792. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. Headquartered in the Netherlands, we are active in over 150 countries and employ around 33,000 talented people who are passionate about delivering the high-performance products and services our customers expect.Not for publication – for more informationMedia Relations Investor Relations T +31 (0)88 – 969 7833 T +31 (0)88 – 969 7856 Contact: Joost Ruempol Media.relations@akzonobel.com Contact: Lloyd Midwinter Investor.relations@akzonobel.com   Safe harbor statement This media release contains statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be under-stood that many factors could cause forecast and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures, as well as significant market disruptions such as the impact of pandemics. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business, please see our latest annual report. www.akzonobel.com. Attachments * 20200722 Investor Update Q2 2020 * 20200722 report Q2 2020 * 20200722 PDF Media release Q2 2020

  • Globe Newswire

    AkzoNobel delivers robust profitability during Q2, despite COVID-19 headwinds

    July 13, 2020 AkzoNobel delivers robust profitability during Q2, despite COVID-19 headwindsAkzo Nobel N.V. (AKZA; AKZOY) today provides a further update on recent business performance and announces preliminary financial results for the second quarter of 2020:  * Revenue 19% lower at €1,987 million (2019: €2,451 million) * Adjusted operating income1 €238 million (2019: €305 million) * ROS2, excluding unallocated cost, increased to 14% (2019: 13.7%) Market headwinds continued to ease during Q2, although revenue for June was nearly 5% lower than the same month in 2019. As previously announced, revenue for May was around 20% lower than last year, while market headwinds were strongest during April, when revenue was almost 30% lower compared with 2019.Trends have differed significantly per region and segment. Demand for Decorative Paints rebounded strongly in Europe – and faster than company planning assumptions. By the end of the second quarter, China had almost recovered to previous levels, although other regions continued to be impacted by varied degrees of lockdown. As expected, demand for Performance Coatings continued to improve during the quarter, although remained significantly below the previous year, especially for automotive and aerospace related markets.Strong margin management and strict temporary cost-saving measures have helped to compensate for lower end market demand.AkzoNobel will provide further information and publish financial results for the second quarter and half-year on July 22, 2020.1 Adjusted operating income = Operating income excluding identified items 2 ROS = Adjusted operating income as percentage of revenue (excluding unallocated cost)This is a public announcement by Akzo Nobel N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014).About AkzoNobel AkzoNobel has a passion for paint. We’re experts in the proud craft of making paints and coatings, setting the standard in color and protection since 1792. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. Headquartered in the Netherlands, we are active in over 150 countries and employ around 33,500 talented people who are passionate about delivering the high-performance products and services our customers expect.Not for publication – for more informationMedia Relations Investor Relations T +31 (0)88 – 969 7833 T +31 (0)88 – 969 7856 Contact: Diana Abrahams Media.relations@akzonobel.com Contact: Lloyd Midwinter Investor.relations@akzonobel.com   Safe Harbor Statement This media release contains statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be under-stood that many factors could cause forecast and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures, as well as significant market disruptions such as the impact of pandemics. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business, please see our latest annual report. www.akzonobel.com. Attachment * 20200713 PDF Media release AkzoNobel delivers robust profitability during Q2, despite COVID-19 headwinds

  • Globe Newswire

    AkzoNobel weathering COVID-19 storm

    June 11, 2020 AkzoNobel weathering COVID-19 stormAs the complex situation regarding the global pandemic continues to evolve, AkzoNobel (AKZA; AKZOY) remains focused on ensuring employee health and safety and maintaining business continuity.The various steps taken to continue serving customers and rapidly reduce costs are proving successful, while at the same time keeping the organization intact and able to respond quickly to changes in end market demand.During the first quarter, COVID-19 adversely impacted revenue by around minus 5%. Asia was most affected throughout Q1, with other regions impacted only from the second half of March onwards.In more recent months, end market demand has evolved in line with company planning assumptions. Market headwinds were strongest during April and resulted in revenue almost 30% lower versus last year. Demand improved as some lockdown measures started to ease, although revenue for May remained around 20% below 2019.Distribution channels for Decorative Paints have mostly reopened in China and Europe, with demand returning towards previous levels. Varying degrees of market disruption persist in the rest of Asia and South America. Demand for Performance Coatings has also improved, although at a much slower pace than for Decorative Paints. Segments related to automotive and aerospace industries continue to be more significantly impacted than others. Market headwinds are expected to ease further throughout June, although continue to differ per region and segment.  Various cost-saving measures and strict margin management continue to be implemented throughout the organization to help compensate. AkzoNobel has also maintained a strong balance sheet due to rigorous cash management and robust working capital controls.Commenting on the evolving situation, AkzoNobel CEO, Thierry Vanlancker, said: “We’re weathering the COVID-19 storm, taking care of our employees while protecting our business. Thank you to everyone at AkzoNobel for working hard to continue serving our customers and provide many essential products for critical industries, while following all necessary health and safety measures.“Although the pandemic situation forced us to pause key parts of our transformation, our teams have focused on minimizing all discretionary costs, as well as carefully managing cash and working capital. The actions we’ve taken, together with our strong balance sheet, provide a solid platform for AkzoNobel to perform as an industry frontrunner.”Financial results for the second quarter will be announced on July 22, 2020.About AkzoNobel AkzoNobel has a passion for paint. We’re experts in the proud craft of making paints and coatings, setting the standard in color and protection since 1792. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. Headquartered in the Netherlands, we are active in over 150 countries and employ around 33,500 talented people who are passionate about delivering the high-performance products and services our customers expect. Not for publication – for more informationMedia RelationsInvestor Relations T +31 (0)88 – 969 7833T +31 (0)88 – 969 7856 Contact: Joost Ruempol Media.relations@akzonobel.comContact: Lloyd Midwinter Investor.relations@akzonobel.com   Safe Harbor Statement This media release contains statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be under-stood that many factors could cause forecast and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures, as well as significant market disruptions such as the impact of pandemics. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business, please see our latest annual report. www.akzonobel.com.Attachment * 20200611 PDF Weathering the COVID-19 storm media release