REPORT
Q2
22
Rising to the challenge
The world's biggest offshore wind farm is being protected from the ravages of the North Sea by our International coatings. Hornsea 2 is located off the east coast of England and is capable of powering more than 1.3 million homes.
All 165 of its towering 8MW turbines feature Interzone 954, a high-performance coating which has now protected over
2,000 offshore wind assets worldwide.
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AkzoNobel Report for the second quarter and half-year 2022
Our results at a glance
Highlights Grow & Deliver (compared with Q2 2021)
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Revenue up 14% and 10% higher in constant currencies, pricing up 16%
ROS at 8.7% (2021: 13.3%), resulting from lower volumes and continued raw material and freight costs inflation
Adjusted EBITDA at ¬337 million (2021: ¬419 million)
Acquisition of Grupo Orbis completed in April 2022. Intended acquisition of Kansai Paint's business in
Africa announced in June 2022. Intended acquisition of the liquid wheel coatings business of
Germany-based Lankwitzer Lackfabrik GmbH announced in July 2022
Highlights Q2 2022 (compared with Q2 2021)
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Pricing up 16%; offsetting the increase of raw material and other variable costs. Volumes 9% lower
Operating income at ¬205 million (2021: ¬384 million), includes ¬44 million negative impact from
Identified items (2021: ¬49 million net positive impact). OPI margin 7.2% (2021: 15.3%)
Adjusted operating income at ¬249 million (2021: ¬335 million)
Net cash from operating activities decreased to negative ¬52 million (2021: positive ¬168 million)
Net income attributable to shareholders at ¬106 million (2021: ¬261 million)
EPS from total operations at ¬0.60 (2021: ¬1.40); adjusted EPS from continuing operations at ¬0.84
(2021: ¬1.20)
Summary of financial results
Second quarter
