Our results at a glance

Full-year:

  • Record ROS, ROI, EBIT, adjusted EPS and net cash inflow from operating activities for AkzoNobel
  • Volumes 1% higher; up 3% for Decorative Paints, up 1% for Specialty Chemicals and flat for Performance Coatings
  • Revenue down 4%, due to unfavorable currency and price/mix effects
  • EBIT up 3% at €1,502 million (2015: €1,462 million), positively impacted by volume growth, continuous improvement and lower costs
  • Profitability improved with ROS at 10.6% (2015: 9.8%). ROI increased to 15.0% (2015: 14.0%)
  • Adjusted EPS up 3% at €4.15 (2015: €4.02)
  • Total dividend proposed for 2016 up 6% to €1.65 (2015: €1.55)
  • Net cash inflow from operating activities up 14% at €1,297 million (2015: €1,136 million)

For Q4:

  • Volumes up 2%, driven by Decorative Paints and Specialty Chemicals
  • Revenue down 3%, mainly due to unfavorable currency and price/mix effects
  • EBIT at €235 million (2015: €268 million) due to adverse price/mix effects and higher restructuring expenses partly offset by volume growth and continuous improvement
  • Adjusted EPS lower at €0.66 (2015: €0.72), mainly due to higher restructuring expenses
  • Completed acquisition of BASF’s Industrial Coatings business
  • Share repurchase program announced; anticipated to be concluded by the end of April 2017

Outlook:

We anticipate positive developments for EMEA, North America and Asia, improving during the year, while Latin America is expected to stabilize. Some economic and political uncertainty is expected to remain. Market trends experienced in the second part of 2016, including for marine and oil and gas industries, are expected to continue during the first half of 2017.

We have structurally improved our ability to respond to developments in our markets. We are taking appropriate measures to deal with higher raw material prices in an inflationary environment. Our stronger operational and financial foundation means we are more agile and better able to seize growth opportunities, including acquisitions. We maintain our financial guidance for 2016-2018.

Completed acquisition of BASF’s Industrial Coatings business
In December 2016, AkzoNobel finalized its acquisition of BASF’s Industrial Coatings business. The acquisition enables us to expand our portfolio and strengthen our market positions, particularly in our coil, protective and wood coatings sectors.