Outlook
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.
Amsterdam, February 11, 2020
The Board of Management
Thierry Vanlancker
Maarten de Vries
Top Employer status for AkzoNobel employees
Our team in China has gained Top Employer status from the Top Employers Institute for the seventh year in a row. The award recognizes the company’s excellence in creating the best conditions for its employees. AkzoNobel also received similar recognition in Brazil, the UK, the Netherlands and the US during the course of 2019.