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AkzoNobel reports record profitability in Q1 2017

Nyhet   •   Apr 19, 2017 08:55 CEST

  • Record profitability, with higher EBIT1, return on sales (ROS)2 and return on investment (ROI)3
  • Revenue up across all Business Areas and 7% overall, mainly due to higher volumes and acquisitions
  • Volumes up 4% driven by Decorative Paints and Specialty Chemicals
  • EBIT up in all Business Areas and13% overall, at €376 million (2016: €334 million), reflecting the positive effects of volume growth, continuous improvement and cost discipline
  • Full-year EBIT expected to be around €100 million higher than 2016, excluding any substantial changes in market conditions
  • Profitability improved, with ROSat 10.3% (2016: 9.7%) and ROI at 15.2% (2016: 14.5%)
  • Adjusted earnings per share up 8% at €1.05 (2016: €0.97)
  • Net cash outflow from operating activities improved to €287 million (2016: €336 million)
  • €150 million share repurchase program underway: €144 million completed up to March 31, 2017
  • A strategy update including further details of the proposed separation of Specialty Chemicals will follow today at 08.00 CET

Outlook: AkzoNobel continues to anticipate positive developments for EMEA, North America and Asia, improving during the year, while Latin America is expected to stabilize. Market trends experienced in the second part of 2016, including for the marine and oil and gas industries, are expected to continue during the first half of 2017.

The company has structurally improved its ability to respond to developments in its markets and continues taking appropriate measures to deal with higher raw material prices in an inflationary environment. EBIT for 2017 is expected to be around €100 million higher than 2016, as a result of growth momentum and continuous improvement, assuming no material change in market and economic dynamics.

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