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Our strategy

As we continue to create everyday essentials to make people’s lives more liveable and inspiring, we are proud to have achieved the financial targets that we set ourselves for 2015. Our return on sales came in at 10.6 percent (target: 9 percent), while our return on investment was 15.0 percent (target: 14 percent). Our vision remains: Leading market positions delivering leading performance Enlarge image Achieving our targets represents significant progress for the company. However, we know we must continue to improve to achieve our vision of leading performance in all the markets in which we operate. So we are maintaining that same vision for the next phase of our [...]

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Having improved considerably since 2012, we continued to make progress in 2015. Both our return on sales of 8.6 percent and return on investment of 11.7 percent were in line with our expected outcomes (7.5 percent and 12 percent respectively). As a result, we are much closer to our vision of becoming the leading global decorative paints company in size and performance. This improvement in performance was mainly achieved by addressing the two key market challenges of fixing Europe while growing profitably outside of Europe. Within Europe, we reduced operating costs, while outside of Europe we grew volumes, adjusted pricing where appropriate and controlled costs. As [...]

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We have met our 2015 financial expectations, with return on sales of 12.2 percent (expected outcome 12 percent) and return on investment of 17.2 percent (expected outcome 15 percent). As a result, we are closer to our vision of delivering leading performance, based on strong chemical platforms driving profitable growth in selected markets. We will continue working towards this vision until we are satisfied that it has been fully achieved. Our 2015 return on sales level is within our future performance range (11.5 to 13 percent). However, we expect continued improvement in return on investment at a minimum of 16 percent going forward. We are also including financial [...]

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In 2015, we delivered return on sales of 13.3 percent and return on investment of 29.4 percent, surpassing our expected 2015 outcomes of 12 percent and 25 percent, respectively. We are continuing to progress towards our vision of leading market positions delivering leading performance. Our simplified organization model has been a significant enabler for performance improvement. We have now streamlined the organization into seven strategic market units (SMUs) operating in six defined regions. Management layers have also been reduced from an average of nine to six. This new set-up has already had a substantial impact in terms of cost reduction. Going forward, we [...]

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Integrated materiality

To define the detailed initiatives and actions we will undertake during the next phase of our journey towards leading performance, we started by consulting key stakeholder groups about the opportunities, issues and risks that we face as a company. This evaluation not only incorporated insight from our customers, shareholders and employees, but also from other key stakeholders such as financial and regulatory bodies, relevant non-governmental organizations (NGOs) and leaders in the communities in which we operate. We have also analyzed which topics will most likely provide us with a substantive opportunity to achieve our vision of leading performance. We then made [...]

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Report of the Supervisory Board

[...] discussions, the Supervisory Board has approved the proposed budget and operational plan for 2016. Strategy reviews Throughout the year, the Supervisory Board reviewed the company’s strategy and risks, as well as its implementation and embedding of operational and functional excellence. In doing so, the Supervisory Board undertook a high level review of operational and commercial strategy, including the company’s five-year outlook. It supplemented these high level discussions with detailed functional reviews and Business Area action plan updates and analyses. Throughout the year, the Supervisory Board’s strategy reviews included a full Strategy Day, analysis [...]

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Note 1: Managing our sustainability agenda

Strategic focus Our sustainability agenda incorporates economic, environmental and social aspects across the value chain. By focusing on the full value chain, we will drive business, resource and engagement benefits The importance of sustainability to running our business is firmly integrated into the AkzoNobel strategy. As well as being a strategic focus area, it is one of the three core principles (Safety, Integrity and Sustainability) that provide the foundation for our company values and the updated Code of Conduct. In addition, sustainability is being embedded into our company-wide processes, including Innovation, Commercial excellence and Talent management. [...]

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Note 5: Resource efficiency

[...] around 40 percent to our cradle-to-grave carbon footprint. Raw material strategies The procurement strategy for the next few years is to move further beyond availability-price-synergy towards cross-functional sourcing, integration and value chain orientation. Buying on price will move towards total cost of ownership, while selected supplier relationships will move towards cooperation and partnering. We see this as a way to leverage the size and scope of our global business, our position with suppliers and to drive competitive advantage. A cross-functional approach with our key suppliers is now set as the standard in our updated key supplier management process. This [...]

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Medium-term risks

[...] turn could result in the company not realizing its financial targets. Mitigating actions Continue our strategy to bring down our operational cost base and reduce complexity Leverage our Global Business Services to further standardize core functional processes in all regions across the organization Further deploy the commercial excellence programs and more sustainable product solutions to capture organic growth and offset the effects of decreased economic growth rates Have contingency plans prepared for a selected number of scenarios, dealing with geographical or segment slowdowns International operations We are a global business with operations in more than 80 [...]

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CEO statement

[...] and essential color – to help build a solid foundation for the next phase of the company’s strategy. Although conditions were challenging during the year – with many markets and regions experiencing varying degrees of volatility and uncertainty – we made significant progress towards our vision of leading market positions delivering leading performance. We are now a stronger, leaner, more agile company. We have new operating models in place; we’ve refined our portfolio; our factory footprint has been optimized; a continuous improvement culture is being initiated and there’s continued focus on operational excellence. In addition, our ability to [...]

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