AkzoNobel publishes Q1 2015 results
(Thomson Reuters ONE) -
April 21, 2015
Solid first quarter for AkzoNobel
* Operating income up 42 percent at ?306 million (2014: ?216 million),
reflecting the effects of process optimization, reduced restructuring
expenses, lower costs and favorable currencies
* Revenue up 6 percent due to 8 percent favorable currency effects
* Improved performance with ROS at 8.5 percent (2014: 6.4 percent); and ROI at
10.6 percent (2014: 9.7 percent)
* Net income attributable to shareholders up 24 percent at ?160 million
* Adjusted EPS up 25 percent at ?0.76 (2014: ?0.61)
* Net cash outflow from operating activities was ?622 million (2014: ?552
million)
* Overall market conditions remain challenging
* On track to deliver 2015 targets
Q1 2015 in ? million
Q1 2014 Q1 2015 delta %
Revenue 3,383 3,591 6
Operating income 216 306 42
Return on sales (ROS) % 6.4 8.5
EBITDA 364 462 27
Net income attributable to shareholders 129 160 24
Akzo Nobel N.V. (AKZA.AS; AKZOY) today reported a solid first quarter with
positive developments in all three Business Areas despite a challenging market
environment.
First quarter operating income increased 42 percent to ?306 million, reflecting
the effects of process optimization efforts, reduced restructuring expenses,
lower costs and favorable currency effects. Revenues of ?3,591 million were up
6 percent compared with the same period last year - an 8 percent impact of
currency translation effects was offset by lower volumes, reflecting a slow
start to the year. Profitability improved, with return on sales at 8.5 percent
compared with 6.4 percent last year.
CFO Maëlys Castella:
"Our results for the first quarter demonstrate that AkzoNobel is continuing to
deliver an improved performance in a challenging economic environment. Our
strategy is working, and its positive effects are becoming increasingly visible
in our results. We continue to build on this strong foundation to further
increase our profitability and we remain on track to deliver our 2015 targets."
Decorative Paints achieved a solid growth in profitability, with operating
income and revenue both increasing. Revenue was up 3 percent compared with
2014, due to a 7 percent favorable currency effect, but offset by an adverse
volume impact and the sale of the German stores. Operating income showed a clear
improvement with an increase of 194 percent, mainly due to the benefits of our
new operating model in Europe, strict cost containment, lower restructuring
costs and favorable currency developments. Volumes for the first quarter were up
in Latin America, but down in Asia and Europe due to a slow start of the season.
Performance Coatings continued to benefit from the delayering and simplification
of its business structure. Revenue was up in all businesses, benefiting from
favorable currency effects and price/mix. Operating income increased 35 percent
due to cost reductions generated by improvement activities, including the
simplification of the business structure, cost control measures, currencies and
lower restructuring expenses. Volumes increased in North America but declined in
other regions, with performance across segments being mixed regionally.
Specialty Chemicals further improved its profitability. Revenue was up 6 percent
as a result of favorable currency effects. Operating income rose 21 percent
versus last year due to continuous improvement measures, cost focus, lower
restructuring costs and favorable currency developments. Volumes were flat
overall, with a mixed and volatile picture across segments and regions. Volumes
in the US continued to perform well, while there was more modest growth in
China.
Outlook
We anticipate that exchange rate movements and lower growth rates in high growth
economies will principally determine the dynamics of 2015. The preparations made
in 2013 and 2014 form a sound basis for improved performance. AkzoNobel remains
on track to deliver its 2015 targets*.
Business Area highlights in ? million
Decorative Paints
Q1 2014 Q1 2015 delta%
Revenue 865 890 3
Operating income 17 50 194
ROS % 2.0 5.6
EBITDA 56 88 57
Performance Coatings
Q1 2014 Q1 2015 delta%
Revenue 1,319 1,430 8
Operating income 126 170 35
ROS % 9.6 11.9
EBITDA 163 206 26
Specialty Chemicals
Q1 2014 Q1 2015 delta%
Revenue 1,222 1,296 6
Operating income 135 163 21
ROS % 11.0 12.6
EBITDA 204 242 19
* Overall targets for the full year 2015 are 9.0 percent return on sales and
14.0 percent return on investment
The Q1 2015 report can be downloaded via the AkzoNobel Report iPad app
http://bit.ly/obljrf or read online at www.akzonobel.com/quarterlyresults.
- - -
AkzoNobel is a leading global paints and coatings company and a major producer
of specialty chemicals. Calling on centuries of expertise, we supply industries
and consumers worldwide with innovative products and sustainable technologies
designed to meet the growing demands of our fast-changing planet. Headquartered
in Amsterdam, the Netherlands, we have approximately 46,000 people in around 80
countries, while our portfolio includes well-known brands such as Dulux,
Sikkens, International, Interpon and Eka. Consistently ranked as one of the
leaders in the area of sustainability, we are committed to making life more
liveable and our cities more human.
Not for publication - for more information
Corporate Media Relations Corporate Investor Relations
T +31 (0)20 - 502 7833 T +31 (0)20 - 502 7854
Contact: Diana Abrahams Contact: Lloyd Midwinter
Safe Harbor Statement
This press release contains statements which address key issues such 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 understood that many factors
could cause forecasted 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. 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, a copy of which can be found on our website
www.akzonobel.com
Photo Maëlys Castella, CFO AkzoNobel:
http://hugin.info/130660/R/1912692/682803.jpeg
Infographic:
http://hugin.info/130660/R/1912692/682801.pdf
Q report:
http://hugin.info/130660/R/1912692/682802.pdf
Press release AkzoNobel Q1 2015 results:
http://hugin.info/130660/R/1912692/682800.pdf
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Akzo Nobel NV via GlobeNewswire
[HUG#1912692]
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Datum: 21.04.2015 - 07:01 Uhr
Sprache: Deutsch
News-ID 387106
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Kategorie:
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