Quarterly statistics

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2016 *

2017 *

Q1

Q2

Q3

Q4

year

in € millions

Q1

Q2

Q3

Q4

year

^*	Represented to present the Specialty Chemicals business as discontinued operations

Revenue

861

1,055

1,021

898

3,835

Decorative Paints

922

1,046

1,007

923

3,898

1,388

1,473

1,406

1,398

5,665

Performance Coatings

1,471

1,504

1,428

1,372

5,775

(20)

(17)

(24)

(5)

(66)

Other activities/eliminations

(16)

(17)

(16)

(12)

(61)

2,229

2,511

2,403

2,291

9,434

Total

2,377

2,533

2,419

2,283

9,612

EBITDA

86

165

156

84

491

Decorative Paints

109

152

124

87

472

222

257

233

187

899

Performance Coatings

225

242

185

165

817

(66)

(35)

(28)

(51)

(180)

Other activities/eliminations

(53)

(28)

(15)

(12)

(108)

242

387

361

220

1,210

Total

281

366

294

240

1,181

10.9

15.4

15.0

9.6

12.8

EBITDA margin (in %)

11.8

14.4

12.2

10.5

12.3

Depreciation

(23)

(25)

(23)

(24)

(95)

Decorative Paints

(23)

(22)

(91)

(26)

(25)

(27)

(103)

Performance Coatings

(25)

(27)

(26)

(27)

(105)

(1)

(2)

(3)

(8)

Other activities/eliminations

(3)

(1)

(6)

(50)

(52)

(50)

(54)

(206)

Total

(51)

(50)

(202)

Amortization

(11)

(9)

(10)

(9)

(39)

Decorative Paints

(9)

(8)

(6)

(7)

(30)

(10)

(9)

(8)

(37)

Performance Coatings

(13)

(12)

(5)

(43)

–

Other activities/eliminations

–

(1)

–

(1)

(21)

(19)

(17)

(76)

Total

(22)

(21)

(19)

(12)

(74)

EBIT (operating income excluding identified items)

52

131

123

51

357

Decorative Paints

77

121

95

58

351

186

222

199

152

759

Performance Coatings

187

202

147

133

669

(67)

(37)

(30)

(54)

(188)

Other activities/eliminations

(56)

(29)

(17)

(13)

(115)

171

316

292

149

928

Total

208

294

225

178

905

7.7

12.6

12.2

6.5

9.8

ROS (in %)

8.8

11.6

9.3

7.8

9.4

Operating income

52

131

132

51

366

Decorative Paints

77

121

95

41

334

186

222

192

135

735

Performance Coatings

187

202

147

132

668

(67)

(37)

(20)

(54)

(178)

Other activities/eliminations

(56)

(60)

(27)

(34)

(177)

171

316

304

132

923

Total

208

263

215

139

825

Identified items in operating income per Business Area

–

9

–

9

Decorative Paints

–

(17)

–

(7)

(17)

(24)

Performance Coatings

–

(1)

–

10

–

10

Other activities/eliminations

–

(31)

(10)

(21)

(62)

–

12

(17)

(5)

Total

–

(31)

(10)

(39)

(80)

Reconciliation net financing expenses

5

10

7

3

25

Financing income

6

3

8

23

(26)

(22)

(24)

(23)

(95)

Financing expenses

(22)

(23)

(90)

(21)

(12)

(17)

(20)

(70)

Net interest on net debt

(16)

(20)

(15)

(67)

Other interest movements

2

–

6

Financing expenses related to pensions

(1)

(2)

(1)

(3)

(7)

(10)

(7)

(15)

4

(28)

Interest on provisions

(2)

(14)

2

(16)

6

(1)

(3)

1

Other items

2

5

4

1

12

(2)

(6)

(14)

1

(21)

Net other financing charges

(1)

1

(11)

–

(11)

(23)

(18)

(31)

(19)

(91)

Net financing expenses

(17)

(15)

(31)

(15)

(78)

Quarterly net income analysis

3

7

5

3

18

Results from associates and joint ventures

6

3

2

17

151

305

278

116

850

Profit before tax

197

254

187

126

764

(33)

(93)

(90)

(18)

(234)

Income tax

(52)

(63)

(57)

(81)

(253)

118

212

188

98

616

Profit for the period from continuing operations

145

191

130

45

511

22

30

32

16

28

Effective tax rate (in %)

26

25

30

64

33

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2016 *

2017 *

Q1

Q2

Q3

Q4

year

in € millions

Q1

Q2

Q3

Q4

year

^*	Represented to present the Specialty Chemicals business as discontinued operations

Earnings per share from continuing operations (in €)

0.39

0.74

0.69

0.33

2.15

Basic

0.50

0.67

0.48

0.11

1.76

0.39

0.74

0.69

0.33

2.14

Diluted

0.50

0.67

0.48

0.11

1.75

Earnings per share from discontinued operations (in €)

0.57

0.50

0.44

0.20

1.72

Basic

0.46

0.53

0.38

0.18

1.55

0.57

0.50

0.44

0.20

1.71

Diluted

0.45

0.53

0.37

0.18

1.54

Earnings per share from total operations (in €)

0.96

1.24

1.13

0.53

3.87

Basic

0.96

1.20

0.86

0.29

3.31

0.96

1.24

1.13

0.53

3.85

Diluted

0.95

1.20

0.85

0.29

3.29

Number of shares (in millions)

249.5

250.6

251.6

251.9

250.9

Weighted average number of shares

251.3

251.1

251.9

252.3

251.6

249.6

251.6

252.2

Number of shares at end of quarter

252.6

254.3

251.9

252.6

Adjusted earnings from continuing operations (in € millions)

151

305

278

116

850

Profit before tax from continuing operations

197

254

187

126

764

–

(12)

17

5

Identified items reported in operating income

–

31

10

39

80

21

19

17

76

Amortization of intangible assets

22

21

19

12

74

(39)

(100)

(104)

(13)

(256)

Adjusted income tax

(59)

(74)

(59)

(15)

(207)

(21)

(26)

(15)

(16)

(78)

Non-controlling interests

(19)

(23)

(9)

(17)

(68)

112

198

166

121

597

Adjusted profit for the period from continuing operations

141

209

148

145

643

0.45

0.79

0.66

0.48

2.38

Adjusted earnings per share from continuing operations (in €)

0.56

0.83

0.59

0.57

2.56

Adjusted earnings from total operations (in € millions)

350

477

431

190

1,448

Profit before tax from total operations

362

430

307

225

1,324

(23)

–

(12)

18

(17)

Identified items reported in operating income

–

20

45

64

129

33

31

29

124

Amortization of intangible assets

34

30

22

120

(95)

(149)

(132)

(55)

(431)

Adjusted income tax

(111)

(120)

(102)

(62)

(395)

(23)

(27)

(15)

(17)

(82)

Non-controlling interests

(21)

(24)

(10)

(17)

(72)

242

332

303

165

1,042

Adjusted profit for the period from total operations

264

340

270

232

1,106

0.97

1.32

1.20

0.66

4.15

Adjusted earnings per share from total operations (in €)

1.05

1.35

1.07

0.92

4.40

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2016 *

2017 *

Q1

Q2

Q3

Q4

year

in € millions

Q1

Q2

Q3

Q4

year

^*	Represented to present the Specialty Chemicals business as discontinued operations

Revenue

1,206

1,202

1,169

4,783

Specialty Chemicals

1,289

1,259

1,209

1,228

4,985

(5)

(6)

(5)

(4)

(20)

Other activities/eliminations

(5)

(7)

(4)

(6)

(22)

1,201

1,200

1,197

1,165

4,763

Total

1,284

1,252

1,205

1,222

4,963

EBITDA

245

259

250

199

953

Specialty Chemicals

261

265

251

238

1,015

–

(4)

(17)

(34)

(55)

Other activities/eliminations

(8)

(11)

(10)

(35)

(64)

245

255

233

165

898

Total

253

254

241

203

951

20.4

21.3

19.5

14.2

18.9

EBITDA margin (in %)

19.7

20.3

20.0

16.6

19.2

Depreciation

(69)

(68)

(70)

(69)

(276)

Specialty Chemicals

(73)

(71)

(63)

(280)

(1)

–

(1)

2

–

Other activities/eliminations

–

(1)

(3)

(5)

(70)

(68)

(71)

(67)

(276)

Total

(73)

(74)

(72)

(66)

(285)

Amortization

(12)

(48)

Specialty Chemicals

(12)

(13)

(11)

(10)

(46)

–

Other activities/eliminations

–

1

–

(1)

–

(12)

(48)

Total

(12)

(11)

(46)

EBIT (operating income excluding identified items)

164

179

168

118

629

Specialty Chemicals

176

179

169

165

689

(1)

(4)

(18)

(32)

(55)

Other activities/eliminations

(8)

(11)

(39)

(69)

163

175

150

86

574

Total

168

158

126

620

13.6

14.6

12.5

7.4

12.1

ROS (in %)

13.1

13.4

13.1

10.3

12.5

Operating income

164

179

168

118

629

Specialty Chemicals

176

179

169

165

689

22

(4)

(18)

(33)

Other activities/eliminations

(8)

(1)

(46)

(63)

(118)

186

175

150

85

596

Total

168

178

123

102

571

Identified items in operating income

–

Specialty Chemicals

–

23

–

(1)

22

Other activities/eliminations

–

10

(35)

(24)

(49)

23

–

(1)

22

Total

–

10

(35)

(24)

(49)

report.AkzoNobel.com/2017/Q4

Paints and Coatings (continuing operations)

AkzoNobel (continuing and discontinued operations)

Discontinued operations (including Specialty Chemicals)