AkzoNobel's Q1 results show progress towards 15 by 20 strategy, despite headwinds from higher raw material costs and macro-economic uncertainty
April 24, 2019
Akzo Nobel N.V. (AKZA; AKZOY) publishes results for first quarter 2019
Adjusted operating income1 9% higher at €163 million
Raw material inflation continued; variable costs €77 million higher
Decorative Paints continued good momentum in seasonally low quarter
Automotive and Specialty Coatings impacted by order pattern
AkzoNobel CEO, Thierry Vanlancker, commented:
"We're encouraged by the underlying business performance during this seasonally low quarter. Our pricing initiatives and cost-saving programs resulted in 9% higher profit and return on sales up at 9.1%.
"Decorative Paints demonstrated good momentum and all Performance Coatings businesses increased profitability, apart from Automotive and Specialty Coatings which was impacted by order pattern.
"Our transformation plans for creating a more fit-for-purpose organization are on track and delivered savings of €38 million during the quarter. We're maintaining our focus as we continue to deliver towards our Winning together: 15 by 20 strategy."
|AkzoNobel in € millions||Q1 2018||Q1 2019||Delta%||Delta% CC3|
|Adjusted operating income1||149||163||9%|
|ROS excluding unallocated costs2||8.7%||9.1%|