Quarterly statistics

Paints and Coatings (continuing operations)

 

 

 

 

2018

 

 

 

 

 

2019

Q1

Q2

Q3

Q4

year

in € millions

Q1

Q2

Q3

Q4

year

1

Depreciation in 2019 includes the impact from the adoption of IFRS 16 “Leases”, resulting in an additional depreciation charge on Right-of-use assets of €105 million in 2019. The 2018 comparative figures have not been restated.

2

Depreciation and amortization of Q4 2019 and full-year 2019 is excluding €10 million of depreciation and amortization, which are recognized as identified items.

3

Net financing expenses in 2019 include the impact of the adoption of IFRS 16 “Leases” resulting in Interest expenses from the lease liabilities (€8 million) in 2019, previously recorded as lease expenses in operating income. The 2018 comparative figures have not been restated.

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

846

1,006

951

896

3,699

Decorative Paints

844

1,005

977

877

3,703

1,342

1,454

1,388

1,403

5,587

Performance Coatings

1,339

1,445

1,418

1,361

5,563

(12)

(14)

(13)

9

(30)

Other activities/eliminations

2

1

3

4

10

2,176

2,446

2,326

2,308

9,256

Total

2,185

2,451

2,398

2,242

9,276

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA (excluding identified items)

 

 

 

 

 

79

145

138

76

438

Decorative Paints

95

177

174

127

573

169

207

204

187

767

Performance Coatings

182

241

238

200

861

(39)

(67)

(39)

(23)

(168)

Other activities/eliminations

(29)

(24)

(25)

(15)

(93)

209

285

303

240

1,037

Total

248

394

387

312

1,341

 

 

 

 

 

 

 

 

 

 

 

9.6

11.7

13.0

10.4

11.2

Adjusted EBITDA margin (in %)

11.4

16.1

16.1

13.9

14.4

 

 

 

 

 

 

 

 

 

 

 

Depreciation (excluding identified items) 1 2

 

 

 

 

 

(18)

(18)

(17)

(19)

(72)

Decorative Paints

(30)

(35)

(34)

(35)

(134)

(26)

(26)

(24)

(25)

(101)

Performance Coatings

(34)

(35)

(35)

(31)

(135)

(2)

(2)

(4)

(8)

Other activities/eliminations

(5)

(4)

(4)

(8)

(21)

(46)

(46)

(45)

(44)

(181)

Total

(69)

(74)

(73)

(74)

(290)

 

 

 

 

 

 

 

 

 

 

 

Amortization (excluding identified items) 2

 

 

 

 

 

(5)

(4)

(6)

(5)

(20)

Decorative Paints

(5)

(6)

(5)

(5)

(21)

(9)

(9)

(10)

(9)

(37)

Performance Coatings

(10)

(9)

(9)

(10)

(38)

(1)

1

(1)

(1)

Other activities/eliminations

(1)

(1)

(14)

(14)

(15)

(15)

(58)

Total

(16)

(15)

(14)

(15)

(60)

 

 

 

 

 

 

 

Adjusted operating income (excluding identified items)

 

 

 

 

 

56

123

115

52

346

Decorative Paints

60

136

135

87

418

134

172

170

153

629

Performance Coatings

138

197

194

159

688

(41)

(70)

(42)

(24)

(177)

Other activities/eliminations

(35)

(28)

(29)

(23)

(115)

149

225

243

181

798

Total

163

305

300

223

991

 

 

 

 

 

 

 

 

 

 

 

6.8

9.2

10.4

7.8

8.6

ROS%

7.5

12.4

12.5

9.9

10.7

 

 

 

 

 

 

 

 

 

 

 

8.7

12.1

12.3

9.0

10.6

ROS% excluding unallocated costs

9.1

13.7

13.8

11.0

12.0

 

 

 

 

 

 

 

 

Identified items per Business Area

 

 

 

 

 

(8)

(12)

(3)

(15)

(38)

Decorative Paints

(6)

30

(5)

(12)

7

(13)

(10)

(6)

(23)

(52)

Performance Coatings

(41)

(23)

(38)

(21)

(123)

(20)

(11)

3

(75)

(103)

Other activities/eliminations

(3)

(4)

(10)

(17)

(34)

(41)

(33)

(6)

(113)

(193)

Total

(50)

3

(53)

(50)

(150)

 

 

 

 

 

 

 

 

Operating income

 

 

 

 

 

48

111

112

37

308

Decorative Paints

54

166

130

75

425

121

162

164

130

577

Performance Coatings

97

174

156

138

565

(61)

(81)

(39)

(99)

(280)

Other activities/eliminations

(38)

(32)

(39)

(40)

(149)

108

192

237

68

605

Total

113

308

247

173

841

 

 

 

 

 

 

 

 

Reconciliation net financing income/(expenses)

 

 

 

 

 

6

5

3

2

16

Financing income

5

4

4

4

17

(22)

(22)

(24)

(24)

(92)

Financing expenses

(17)

(20)

(21)

(18)

(76)

(16)

(17)

(21)

(22)

(76)

Net interest on net debt

(12)

(16)

(17)

(14)

(59)

 

 

 

 

 

 

 

 

Other interest movements

 

 

 

 

 

2

3

2

3

10

Financing expenses related to post-retirement benefits

5

6

4

6

21

-

(1)

-

(2)

(3)

Interest on provisions

(3)

(2)

(8)

(1)

(14)

33

(13)

(1)

(2)

17

Other items

(3)

(6)

(6)

(9)

(24)

35

(11)

1

(1)

24

Net other financing charges

(1)

(2)

(10)

(4)

(17)

19

(28)

(20)

(23)

(52)

Net financing expenses 3

(13)

(18)

(27)

(18)

(76)

 

 

 

 

 

 

 

 

Quarterly net income analysis

 

 

 

 

 

4

6

4

6

20

Results from associates and joint ventures

5

5

6

4

20

131

170

221

51

573

Profit before tax

105

295

226

159

785

1

(47)

(66)

(6)

(118)

Income tax

(31)

(69)

(51)

(79)

(230)

132

123

155

45

455

Profit for the period from continuing operations

74

226

175

80

555

(1)

28

30

12

21

Effective tax rate (in %)

30

23

23

50

29

AkzoNobel (continuing operations)

 

 

 

 

2018

 

 

 

 

 

2019

Q1

Q2

Q3

Q4

year

 

Q1

Q2

Q3

Q4

year

*

in 2019 after share buyback

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from continuing operations (in €)

 

 

 

 

 

0.47

0.42

0.58

0.14

1.61

Basic

0.28

1.00

0.79

0.38

2.43

0.47

0.42

0.58

0.14

1.60

Diluted

0.28

1.00

0.79

0.38

2.42

 

 

 

 

 

 

Earnings per share from discontinued operations (in €)

 

 

 

 

 

0.53

0.64

0.60

22.69

24.58

Basic

0.07

0.03

0.10

0.53

0.64

0.59

22.61

24.47

Diluted

0.07

0.03

0.10

 

 

 

 

 

 

 

 

Earnings per share from total operations (in €)

 

 

 

 

 

1.00

1.06

1.18

22.83

26.19

Basic

0.28

1.07

0.79

0.41

2.53

1.00

1.06

1.17

22.75

26.07

Diluted

0.28

1.07

0.79

0.41

2.52

 

 

 

 

 

 

 

 

Number of shares (in millions)

 

 

 

 

 

252.9

254.5

255.8

256.2

254.9

Weighted average number of shares *

234.3

215.7

204.3

198.5

213.1

253.2

255.8

255.8

256.2

256.2

Number of shares at end of quarter *

223.9

208.7

200.2

196.4

196.4

 

 

 

 

 

 

 

 

Adjusted earnings from continuing operations (in € millions)

 

 

 

 

 

131

170

221

51

573

Profit before tax from continuing operations

105

295

226

159

785

41

33

6

113

193

Identified items reported in operating income

50

(3)

53

50

150

(31)

1

(30)

Interest on tax settlement

(39)

(55)

(67)

(43)

(204)

Adjusted income tax

(39)

(73)

(68)

(57)

(237)

(13)

(16)

(6)

(10)

(45)

Non-controlling interests

(9)

(11)

(13)

(5)

(38)

89

133

154

111

487

Adjusted net income from continuing operations

107

208

198

147

660

0.35

0.52

0.60

0.43

1.91

Adjusted earnings per share from continuing operations (in €)

0.46

0.96

0.97

0.74

3.10