Q3
Report
2021 Color of the Year announced
Brave Ground has been unveiled as AkzoNobel's Color of the Year for 2021. It's a warm and grounding neutral shade that gives us the courage to embrace change. A range of palettes has been developed to help customers of the company's Decorative Paints,
Automotive and Specialty Coatings, Powder Coatings and Wood Coatings businesses choose on-trend colors with confidence.
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AkzoNobel I Report for the third quarter 2020 2
Our results at a glance
Highlights Q3 2020
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ROS, excluding unallocated costs, increased to 17.7% (2019: 13.8%) due to strong margin management and cost savings
Growth in volumes of 3%, with strong demand trends for most segments and regions
Total cost savings delivered ¬49 million, of which ¬27 million structural savings related to transformation initiatives
Net cash from operating activities improved by 46% to ¬457 million (2019: ¬312 million); maintained a strong balance sheet
On October 19, the acquisition of Titan Paints in Spain was announced, with completion expected before the end of Q1 2021
¬300 million share buyback announced, to be completed in the first half of 2021
Q3 2020 (compared with Q3 2019)
" Revenue 5% lower, while up 1% in constant currencies. Volumes up 3%, showing strong demand for Decorative Paints, partly offset by lower volumes in Performance Coatings and unfavorable price/mix of 1%
" Adjusted operating income up 18% at ¬353 million (2019: ¬300 million); ROS increased to 15.5% (2019: 12.5%)
" Operating income of ¬326 million includes ¬27 million negative impact from identified items, related to transformation costs
(2019: ¬247 million operating income, including ¬53 million negative identified items); OPI margin up at 14.3% (2019: 10.3%)
" Net income attributable to shareholders increased 36% to ¬220 million (2019: ¬162 million)
" Adjusted EPS from continuing operations up 34% at ¬1.30 (2019: ¬0.97); EPS from total operations up at ¬1.15 (2019: ¬0.79)
" Interim dividend of ¬0.43 per share (2019: ¬0.41 per share)
Summary of financial outcomes
Third quarter
January-September
2019
2020
