Our results at a glance
Profitability increased in an environment of mixed volume growth
Q3:
- Volume growth in Decorative Paints and Specialty Chemicals, while volumes were flat overall
- Revenue down 4 percent, due to adverse currency and price/mix effects
- EBIT* up 1 percent at €442 million (2015: €436 million), with continuous improvement initiatives and lower costs, partly offset by adverse currency effects
- Operating income up 4 percent at €454 million (2015: €436 million), positively impacted by incidental items
- ROS** was up at 12.3 percent (2015: 11.6 percent); ROI** improved to 15.2 percent (2015: 13.0 percent). ROS and ROI improved for all Business Areas
- Net income attributable to shareholders was €285 million (2015: €285 million)
- Adjusted EPS was €1.20 (2015: €1.24)
- Net cash inflow from operating activities up 3 percent at €600 million (2015: €583 million)
- Interim dividend up 6 percent to €0.37 per share (2015: €0.35)
- Further de-risking of pension liabilities
Outlook:
- Outlook unchanged. The market environment remains uncertain with challenging conditions in several countries and segments. Deflationary pressures and currency headwinds are expected to continue. We maintain our financial guidance 2016-2018
AkzoNobel around the world
Revenue by destination
Third quarter |
|
January-September |
||||
2015 |
2016 |
∆% |
in € millions |
2015 |
2016 |
∆% |
3,760 |
3,600 |
(4) |
Revenue |
11,300 |
10,741 |
(5) |
436 |
454 |
4 |
Operating income |
1,228 |
1,302 |
6 |
436 |
442 |
1 |
EBIT |
1,194 |
1,267 |
6 |
11.6 |
12.6 |
|
OPI margin% |
10.9 |
12.1 |
|
11.6 |
12.3 |
|
ROS% ** |
10.6 |
11.8 |
|
|
|
|
|
|
|
|
|
|
|
Average invested capital |
10,449 |
10,084 |
|
|
|
|
Moving average ROI (in %) ** |
13.0 |
15.2 |
|
|
|
|
|
|
|
|
163 |
128 |
|
Capital expenditures |
423 |
403 |
|
583 |
600 |
3 |
Net cash from operating activities |
368 |
717 |
95 |
|
|
|
Net debt |
1,727 |
1,119 |
|
|
|
|
|
|
|
|
284 |
285 |
– |
Net income from |
779 |
838 |
8 |
1 |
– |
|
Net income from |
(3) |
(1) |
|
285 |
285 |
– |
Net income attributable to shareholders |
776 |
837 |
8 |
1.15 |
1.13 |
|
Earnings per share from |
3.14 |
3.34 |
|
1.24 |
1.20 |
(3) |
Adjusted earnings per share (in €) |
3.30 |
3.50 |
6 |
|
|
|
Number of employees |
45,800 |
45,800 |
|
* EBIT = operating income excluding incidental items
** ROS% = EBIT/Revenue. Moving average ROI (in %) = 12 months EBIT/12 months average invested capital