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BRIEF-AkzoNobel Q4 Adjusted Operating Income Up At EUR 294 Mln

Published 2021-02-17, 01:17 a/m
© Reuters.

Feb 17 (Reuters) - AKZO NOBEL NV AKZO.AS :

* AKZONOBEL DELIVERS 15 BY 20 PROMISE AND CONTINUES STRONG MOMENTUM IN Q4, WITH 6% REVENUE GROWTH IN COMPARABLE CURRENCIES

* Q4 STRONG GROWTH IN VOLUMES OF 6%; SECOND CONSECUTIVE QUARTER OF VOLUME GROWTH

* FINAL DIVIDEND PROPOSED OF EUR 1.52 (2019: EUR 1.49) PER SHARE

* Q4 ROS EXCLUDING UNALLOCATED COST INCREASED TO 15.3% (2019: 11.0%) DUE TO STRONG MARGIN MANAGEMENT AND COST SAVINGS

* Q4 ACQUISITIONS OF TITAN PAINTS IN SPAIN ANNOUNCED AND NEW NAUTICAL COATINGS COMPLETED IN Q4 2020

* FY NET CASH FROM OPERATING ACTIVITIES SIGNIFICANTLY INCREASED TO EUR 1,220 MILLION

* COMPANY TARGETS A LEVERAGE RATIO OF 1-2 TIMES NET DEBT/EBITDA AND COMMITS TO RETAIN A STRONG INVESTMENT GRADE CREDIT RATING

* FY ROI EXCLUDING UNALLOCATED COST UP AT 20.6%, EXCEEDING OUR 2020 AMBITION

* ALTHOUGH TRENDS DIFFER PER REGION AND SEGMENT WITH RAW MATERIAL INFLATION EXPECTED, MARGIN MANAGEMENT AND COST-SAVING PROGRAMS ARE IN PLACE TO DELIVER 50 BASIS POINTS INCREASE IN RETURN ON SALES

* FY 15.0% ROS EXCLUDING UNALLOCATED COST, DELIVERING ON OUR 15 BY 20 PROMISE

* FY EUR 243 MILLION OF COST SAVINGS, OF WHICH EUR 115 MILLION STRUCTURAL SAVINGS

* Q4 REVENUE EUR 2.21 BILLION VERSUS EUR 2.24 BILLION YEAR AGO

* Q4 ADJUSTED OPERATING INCOME EUR 294 MILLION VERSUS EUR 223 MILLION YEAR AGO

* COVID: THE OVERALL IMPACT ON AKZONOBEL FOR THE FULL-YEAR 2020 WAS LIMITED

* COVID: OVERALL POSITIVE IMPACT WAS NOTED FOR DECORATIVE PAINTS SEGMENT, THERE WAS AN OVERALL ADVERSE IMPACT IN PERFORMANCE COATINGS SEGMENT

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* COVID: IN OUR 2020 FIGURES, ALL COVID-19 RELATED IMPACTS HAVE BEEN TREATED AS NORMAL OPERATIONS

* AKZONOBEL WILL LAUNCH ITS NEXT REGIONAL STARTUP CHALLENGE IN CHINA IN MARCH 2021

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