Consolidated statement of income

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Consolidated statement of income

In € millions

2011

2012

2013

2014

2015

20165,6

2017

2018

20197

2020

Revenue

14,604

15,390

14,590

14,296

14,859

9,434

9,612

9,256

9,276

8,530

Adjusted operating income3

1,154

972

897

1,072

1,462

928

905

798

991

1,099

Operating income

1,157

(1,198)

958

987

1,573

923

825

605

841

963

Financing income and expenses

(311)

(205)

(200)

(156)

(114)

(91)

(78)

(52)

(76)

(69)

Results from associates and joint ventures

24

13

14

21

17

18

17

20

20

25

Income tax

(241)

(203)

(111)

(252)

(416)

(234)

(253)

(118)

(230)

(241)

Profit for the period from continuing operations

629

(1,593)

661

600

1,060

616

511

455

555

678

Discontinued operations

(59)

(436)

131

18

6

436

393

6,274

22

(7)

Non-controlling interests

(64)

(63)

(68)

(72)

(87)

(82)

(72)

(55)

(38)

(41)

Net income, attributable to shareholders

506

(2,092)

724

546

979

970

832

6,674

539

630

Common shares, in millions at year-end

234.7

239.0

242.6

246.0

249.0

252.2

252.6

256.2

199.6

190.6

Dividend2

304

214

210

212

222

239

1,287

390

1,423

366

Number of employees at year-end

52,020

50,610

49,600

47,200

45,600

36,300

35,700

34,500

33,800

32,200

Average number of employees

51,100

52,200

50,200

48,200

46,100

36,200

36,200

34,900

34,200

33,000

Employee benefits

2,765

3,018

2,950

2,824

2,728

1,794

1,935

1,976

1,875

1,850

Average revenue per employee (in €1,000)

286

295

291

297

322

261

266

265

271

258

Average operating income per employee (in €1,000)

23

(23)

19

20

34

25

23

17

25

29

 

 

 

 

 

 

 

 

 

 

 

Ratios

 

 

 

 

 

 

 

 

 

 

ROS

7.9

6.3

6.1

7.5

9.8

9.8

9.4

8.6

10.7

12.9

OPI margin

7.9

(7.8)

6.6

6.9

10.6

9.8

8.6

6.5

9.1

11.3

ROI4

10.0

8.2

9.0

10.9

14.0

14.4

13.9

12.6

14.1

16.1

Net income in % of shareholders’ equity

5.6

–1

12.9

9.5

15.1

14.8

14.2

56.4

8.5

11.0

Employee benefits in % of revenue

18.9

19.6

20.2

19.8

18.4

19.0

20.1

21.3

20.2

21.7

Interest coverage

4.7

–1

5.1

8.6

16.2

13.2

12.3

8.0

14.3

18.5

 

 

 

 

 

 

 

 

 

 

 

Per share information

 

 

 

 

 

 

 

 

 

 

Net income

2.04

(8.82)

3.00

2.23

3.95

3.87

3.31

26.19

2.53

3.29

Adjusted earnings per share

3.10

2.55

2.62

2.81

4.02

3.80

4.40

1.91

3.10

3.88

Shareholders’ equity

39.25

24.12

23.06

23.53

26.04

25.99

23.22

46.19

32.33

30.26

Highest share price during the year

53.74

49.75

56.08

60.77

74.81

64.74

82.64

82.70

91.86

91.60

Lowest share price during the year

29.25

35.16

42.65

47.63

55.65

50.17

59.11

68.82

69.12

48.50

Year-end share price

37.36

49.75

55.71

57.65

61.68

59.39

73.02

70.40

90.69

87.86

1

Not meaningful as operating income and net income were losses.

2

Cash dividend paid to shareholders of AkzoNobel.

3

Adjusted operating income = operating income excluding identified items.

4

ROI% is calculated as adjusted operating income (operating income excluding identified items) of the last 12 months as a percentage of average invested capital of the last 12 months. Invested capital is calculated as total assets (excluding cash and cash equivalents, short-term investments, investments in associates, the receivable from pension funds in an asset position and assets held for sale) less current tax liabilities, deferred tax liabilities and trade and other payables. OPI is calculated as operating income as percentage of revenues from third parties.

5

Represented to present the Specialty Chemicals business as discontinued operations.

6

Represented to the new adjusted earnings per share definition, which no longer excludes post-tax amortization charges.

7

2019 includes the impact of the adoption of IFRS 16 “Leases”.