- Progress towards delivering our Winning together: 15 by 20 strategy, by delivery of strong ROS, despite softer end market demand
- Continued pricing initiatives and cost-saving programs successfully improved profitability
- Progress towards delivering €200 million of savings planned for 2020: €80 million delivered in 2019
- Acquisition of Mapaero closed, strengthening our global position in steadily growing aerospace coatings industry
- Delivered on commitment by returning €6.5 billion to our shareholders following the sale of Specialty Chemicals
- New €500 million share buyback program announced in October 2019, to be completed in the first half of 2020
- Final dividend proposed of €1.49 per share
We are delivering towards our Winning together: 15 by 20 strategy and continue creating a fit-for-purpose organization for a focused paints and coatings company, contributing to the achievement of our 2020 ambition. Demand trends differ per region and segment in an uncertain macro-economic environment. Raw material costs are expected to have a moderately favorable impact for the first half of 2020. Continued margin management and cost-saving programs are in place to address the current challenges. We continue executing our transformation, incurring one-off costs, to deliver the previously announced €200 million cost savings. We target a leverage ratio of 1.0-2.0 times net debt/EBITDA by the end of 2020 and commit to retain a strong investment grade credit rating.