AkzoNobel’s Q3 Results Show Continued Progress, With Adjusted Operating Income Up 23%

Akzo Nobel N.V. (AKZA; AKZOY) publishes results for third quarter 2019

  • Adjusted operating income1 up 23% at €300 million (2018: €243 million)
  • Return on Sales (ROS), excluding unallocated costs2, increased to 13.8% (2018: 12.3%)
  • Transformation on track and delivered €19 million cost savings
  • Adjusted Earnings per Share (EPS) from continuing operations up 62% at €0.97 (2018: €0.60)
  • New share buyback announced, €500 million to be completed in the first half of 2020

Q3 2019:

  • Revenue up 3% and 2% higher in constant currencies, with positive price/mix of 4% and acquisitions contributing 1%, offset by 4% lower volumes
  • Adjusted operating income up 23% at €300 million (2018: €243 million) driven by ongoing pricing initiatives and cost-saving programs; ROS increased to 12.5% (2018: 10.4%)
  • Operating income at €247 million includes €53 million negative impact from identified items, related to transformation costs and non-cash impairments; 2018 operating income of €237 million included €6 million negative identified items
  • Decorative Paints ROS up at 13.8% (2018: 12.1%); Performance Coatings ROS up at 13.7% (2018: 12.2%)
  • Net income from total operations at €162 million, including no net income from discontinued operations (2018: €301 million, including €152 million from discontinued operations)
  • Adjusted EPS from continuing operations up 62% at €0.97 (2018: €0.60); EPS from total operations at €0.79 (2018: €1.18)
  • €2.2 billion of the €2.5 billion share buyback program completed
  • Interim dividend of €0.41 per share

https://www.akzonobel.com/en/for-media/media-releases-and-features/akzonobel%E2%80%99s-q3-results-show-continued-progress-adjusted

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