Quarterly statistics

Paints and Coatings (continuing operations)

 

 

 

 

2017 *

 

 

 

 

2018

Q1

Q2

Q3

Q4

year

in € millions

Q1

Q2

Q3

year-to-date

*

Represented to present the Specialty Chemicals business as discontinued operations

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

922

1,046

1,007

923

3,898

Decorative Paints

846

1,006

951

2,803

1,471

1,504

1,428

1,372

5,775

Performance Coatings

1,342

1,454

1,388

4,184

(16)

(17)

(16)

(12)

(61)

Other activities/eliminations

(12)

(14)

(13)

(39)

2,377

2,533

2,419

2,283

9,612

Total

2,176

2,446

2,326

6,948

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA (excluding identified items)

 

 

 

 

109

152

124

87

472

Decorative Paints

79

145

138

362

225

242

185

165

817

Performance Coatings

169

207

204

580

(53)

(28)

(15)

(12)

(108)

Other activities/eliminations

(39)

(67)

(39)

(145)

281

366

294

240

1,181

Total

209

285

303

797

 

 

 

 

 

 

 

 

 

 

11.8

14.4

12.2

10.5

12.3

Adjusted EBITDA margin (in %)

9.6

11.7

13.0

11.5

 

 

 

 

 

 

 

 

 

 

Depreciation

 

 

 

 

(23)

(23)

(23)

(22)

(91)

Decorative Paints

(18)

(18)

(17)

(53)

(25)

(27)

(26)

(27)

(105)

Performance Coatings

(26)

(26)

(24)

(76)

(3)

(1)

(1)

(1)

(6)

Other activities/eliminations

(2)

(2)

(4)

(8)

(51)

(51)

(50)

(50)

(202)

Total

(46)

(46)

(45)

(137)

 

 

 

 

 

 

 

 

 

 

Amortization

 

 

 

 

(9)

(8)

(6)

(7)

(30)

Decorative Paints

(5)

(4)

(6)

(15)

(13)

(13)

(12)

(5)

(43)

Performance Coatings

(9)

(9)

(10)

(28)

(1)

(1)

Other activities/eliminations

(1)

1

(22)

(21)

(19)

(12)

(74)

Total

(14)

(14)

(15)

(43)

 

 

 

 

 

 

Adjusted operating income (excluding identified items)

 

 

 

 

77

121

95

58

351

Decorative Paints

56

123

115

294

187

202

147

133

669

Performance Coatings

134

172

170

476

(56)

(29)

(17)

(13)

(115)

Other activities/eliminations

(41)

(70)

(42)

(153)

208

294

225

178

905

Total

149

225

243

617

 

 

 

 

 

 

 

 

 

 

8.8

11.6

9.3

7.8

9.4

ROS%

6.8

9.2

10.4

8.9

 

 

 

 

 

 

 

Operating income

 

 

 

 

77

121

95

41

334

Decorative Paints

48

111

112

271

187

202

147

132

668

Performance Coatings

121

162

164

447

(56)

(60)

(27)

(34)

(177)

Other activities/eliminations

(61)

(81)

(39)

(181)

208

263

215

139

825

Total

108

192

237

537

 

 

 

 

 

 

 

Identified items per Business Area

 

 

 

 

(17)

(17)

Decorative Paints

(8)

(12)

(3)

(23)

(1)

(1)

Performance Coatings

(13)

(10)

(6)

(29)

(31)

(10)

(21)

(62)

Other activities/eliminations

(20)

(11)

3

(28)

(31)

(10)

(39)

(80)

Total

(41)

(33)

(6)

(80)

 

 

 

 

 

 

 

Reconciliation net financing income/(expenses)

 

 

 

 

6

6

3

8

23

Financing income

6

5

3

14

(22)

(22)

(23)

(23)

(90)

Financing expenses

(22)

(22)

(24)

(68)

(16)

(16)

(20)

(15)

(67)

Net interest on net debt

(16)

(17)

(21)

(54)

 

 

 

 

 

 

 

Other interest movements

 

 

 

 

(1)

(2)

(1)

(3)

(7)

Financing expenses related to post-retirement benefits

2

3

2

7

(2)

(2)

(14)

2

(16)

Interest on provisions

(1)

(1)

2

5

4

1

12

Other items

33

(13)

(1)

19

(1)

1

(11)

(11)

Net other financing charges

35

(11)

1

25

(17)

(15)

(31)

(15)

(78)

Net financing expenses

19

(28)

(20)

(29)

 

 

 

 

 

 

 

Quarterly net income analysis

 

 

 

 

6

6

3

2

17

Results from associates and joint ventures

4

6

4

14

197

254

187

126

764

Profit before tax

131

170

221

522

(52)

(63)

(57)

(81)

(253)

Income tax

1

(47)

(66)

(112)

145

191

130

45

511

Profit for the period from continuing operations

132

123

155

410

26

25

30

64

33

Effective tax rate (in %)

(1)

28

30

21

AkzoNobel (continuing and discontinued operations)

 

 

 

 

2017 1

 

 

 

 

2018

Q1

Q2

Q3

Q4

year

 

Q1

Q2

Q3

year-to-date

1

Represented to present the Specialty Chemicals business as discontinued operations

2

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

 

 

 

 

 

 

 

 

 

 

Earnings per share from continuing operations (in €)

 

 

 

 

0.50

0.67

0.48

0.11

1.76

Basic

0.47

0.42

0.58

1.47

0.50

0.67

0.48

0.11

1.75

Diluted

0.47

0.42

0.58

1.47

 

 

 

 

 

Earnings per share from discontinued operations (in €)

 

 

 

 

0.46

0.53

0.38

0.18

1.55

Basic

0.53

0.64

0.60

1.77

0.45

0.53

0.37

0.18

1.54

Diluted

0.53

0.64

0.59

1.76

 

 

 

 

 

 

 

Earnings per share from total operations (in €)

 

 

 

 

0.96

1.20

0.86

0.29

3.31

Basic

1.00

1.06

1.18

3.24

0.95

1.20

0.85

0.29

3.29

Diluted

1.00

1.06

1.17

3.23

 

 

 

 

 

 

 

Number of shares (in millions)

 

 

 

 

251.3

251.1

251.9

252.3

251.6

Weighted average number of shares

252.9

254.5

255.8

254.4

252.6

254.3

251.9

252.6

252.6

Number of shares at end of quarter

253.2

255.8

255.8

255.8

 

 

 

 

 

 

 

Adjusted earnings from continuing operations (in € millions) 2

 

 

 

 

197

254

187

126

764

Profit before tax from continuing operations

131

170

221

522

31

10

39

80

Identified items reported in operating income

41

33

6

80

Interest on tax settlement

(31)

1

(30)

(52)

(68)

(53)

(12)

(185)

Adjusted income tax

(39)

(55)

(67)

(161)

(19)

(23)

(9)

(17)

(68)

Non-controlling interests

(13)

(16)

(6)

(35)

126

194

135

136

591

Adjusted net income from continuing operations

89

133

154

376

0.50

0.78

0.53

0.54

2.35

Adjusted earnings per share from continuing operations (in €)

0.35

0.52

0.60

1.48

 

 

 

 

 

 

 

Adjusted earnings from total operations (in € millions) 2

 

 

 

 

362

430

307

225

1,324

Profit before tax from total operations

320

404

425

1,149

20

45

64

129

Identified items reported in operating income

55

41

21

117

Interest on tax settlement

(31)

1

(30)

(101)

(110)

(93)

(55)

(359)

Adjusted income tax

(87)

(125)

(121)

(333)

(21)

(24)

(10)

(17)

(72)

Non-controlling interests

(21)

(17)

(7)

(45)

240

316

249

217

1,022

Adjusted net income from total operations

236

304

318

858

0.96

1.26

0.99

0.86

4.06

Adjusted earnings per share from total operations (in €)

0.93

1.19

1.24

3.37

Discontinued operations (including Specialty Chemicals)

 

 

 

 

2017 1

 

 

 

 

2018

Q1

Q2

Q3

Q4

year

in € millions

Q1

Q2

Q3

year-to-date

1

Represented to present the Specialty Chemicals business as discontinued operations

2

2017 figures include allocations from Other activities

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

1,289

1,259

1,209

1,228

4,985

Specialty Chemicals 2

1,252

1,270

1,287

3,809

(5)

(7)

(4)

(6)

(22)

Held for sale effects/other

(6)

(6)

(6)

(18)

1,284

1,252

1,205

1,222

4,963

Total

1,246

1,264

1,281

3,791

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA (excluding identified items)

 

 

 

 

251

252

239

205

947

Specialty Chemicals 2

233

258

229

720

2

2

2

(2)

4

Held for sale effects/other

(25)

(6)

(8)

(39)

253

254

241

203

951

Total

208

252

221

681

 

 

 

 

 

 

 

 

 

 

19.7

20.3

20.0

16.6

19.2

EBITDA margin (in %)

16.7

19.9

17.3

18.0

 

 

 

 

 

 

 

 

 

 

Depreciation

 

 

 

 

(73)

(74)

(72)

(74)

(293)

Specialty Chemicals 2

(72)

(71)

(73)

(216)

8

8

Held for sale effects/other

72

71

73

216

(73)

(74)

(72)

(66)

(285)

Total

 

 

 

 

 

 

 

 

 

 

Amortization

 

 

 

 

(12)

(12)

(11)

(12)

(47)

Specialty Chemicals 2

(11)

(12)

(11)

(34)

1

1

Held for sale effects/other

11

12

11

34

(12)

(12)

(11)

(11)

(46)

Total

 

 

 

 

 

 

Adjusted operating income (excluding identified items)

 

 

 

 

166

166

156

119

607

Specialty Chemicals 2

150

175

145

470

2

2

2

7

13

Held for sale effects/other

58

77

76

211

168

168

158

126

620

Total

208

252

221

681

 

 

 

 

 

 

 

 

 

 

13.1

13.4

13.1

10.3

12.5

ROS (in %)

16.7

19.9

17.3

18.0

 

 

 

 

 

 

 

Operating income

 

 

 

 

166

184

156

119

625

Specialty Chemicals 2

150

175

145

470

2

(6)

(33)

(17)

(54)

Held for sale effects/other

44

69

61

174

168

178

123

102

571

Total

194

244

206

644

 

 

 

 

 

 

 

Identified items

 

 

 

 

18

18

Specialty Chemicals 2

(8)

(35)

(24)

(67)

Held for sale effects/other

(14)

(8)

(15)

(37)

10

(35)

(24)

(49)

Total

(14)

(8)

(15)

(37)