Note 5: Revenue

AkzoNobel derives revenue from the transfer of goods and services at a point in time and over time in the major product lines and geographical regions as disclosed in the table in this Note.

For the receivables, which are included in Trade and other receivables, reference is made to Note 17.

As at December 31, 2021, and at December 31, 2020, no significant contract assets were recognized.

As at December 31, 2021, the amount of contract liabilities deferred to be recognized over time in 2022 is €3 million. These contract liabilities primarily relate to shipping, training and certain technical services, for which revenue is recognized over time. The amount of €3 million included in contract liabilities at the beginning of the period has been recognized as revenue during the year 2021 (2020: €3 million).

Revenue disaggregation

 

Decorative Paints

Performance Coatings

Other

Total

In € millions

2020

2021

2020

2021

2020

2021

2020

2021

 

 

 

 

 

 

 

 

 

Primary geographical markets – revenue from third parties*

 

 

 

 

 

 

 

 

The Netherlands

233

231

94

99

15

5

342

335

Other EMEA countries

2,013

2,198

1,971

2,275

3,984

4,473

North Asia

484

560

1,032

1,175

1,516

1,735

South Asia Pacific

432

513

540

624

972

1,137

North America

1,112

1,163

1,112

1,163

South America

396

477

208

267

604

744

Total

3,558

3,979

4,957

5,603

15

5

8,530

9,587

 

 

 

 

 

 

 

 

 

Major goods/service lines – revenue from third parties

 

 

 

 

 

 

 

 

Decorative Paints Europe, Middle East and Africa

2,246

2,429

2,246

2,429

Decorative Paints South America

396

477

396

477

Decorative Paints Asia

916

1,073

916

1,073

Powder Coatings

1,128

1,315

1,128

1,315

Marine and Protective Coatings

1,068

1,164

1,068

1,164

Automotive and Specialty Coatings

1,127

1,231

1,127

1,231

Industrial Coatings

1,634

1,893

1,634

1,893

Other

15

5

15

5

Total

3,558

3,979

4,957

5,603

15

5

8,530

9,587

 

 

 

 

 

 

 

 

 

Timing of revenue recognition

 

 

 

 

 

 

 

 

Goods transferred at a point in time

3,512

3,923

4,772

5,405

8,284

9,328

Services transferred over time

46

56

185

198

15

5

246

259

Total

3,558

3,979

4,957

5,603

15

5

8,530

9,587

*

The regional split has been changed compared to previous year to align to our new internal regional structure.