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Note 1: Managing our sustainability agenda

Strategic focus Our sustainability agenda incorporates economic, environmental and social aspects across the value chain. The importance of sustainability to running our business is firmly integrated into the AkzoNobel strategy, both in the strategic focus areas and the core principles underlying our new company values (safety, integrity and sustainability). Sustainability helps us to enhance our existing business, create new business opportunities and minimize risks. In 2012, we developed a new focus to our sustainability strategy by reviewing our sustainability risks and opportunities against global trends – population growth and the new middle class, [...]

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External risks

[...] agile and competitive. We are also continuing with our performance improvement programs in the three Business Areas and began a structured program of commercial excellence to offset the effects of decreasing economic growth rates. External Strategic – Top five risk International operations We are a global business with operations in more than 80 countries. We are therefore exposed to a variety of risks, many of them beyond our control. Unfavorable political, social or economic developments and developments in laws, regulations and standards could adversely affect our business and results of operations. Our aspirations to fuel growth in high growth markets will [...]

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Strategic focus areas

We have identified five areas that we will focus on in terms of strategy development across the company. The following provides a brief description of what we have been doing and what we plan to do in each of them. Care for the customer The starting point for market success has to be care for our customers. This incorporates understanding both the trends in the end-user segments that we serve and those in the needs-based customer segments, as well as developing appropriate product and service value propositions to serve these segments. All of this will help to ensure that we are able to develop and/or maintain our leading market positions. However, if we are to [...]

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Note 1: Summary of significant accounting policies

[...] financial statements. Discontinued operations (Note 2) A discontinued operation is a component of our business that represents a separate major line of business or geographical area of operations that has been disposed of or is held for sale, or is a subsidiary acquired exclusively with a view to resale. Classification as a discontinued operation occurs upon disposal or when the operation meets the criteria to be classified as held for sale. When an operation is classified as a discontinued operation, the comparative statements of income and statement of cash flows are reclassified as if the operation had been discontinued from the start of the comparative period. [...]

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Market overview

End-user segment strategy context Performance coatings make up slightly more than half of the world market for paints and coatings. They are used in all four of our end-user segments, Buildings and Infrastructure, Transportation, Consumer Goods and Industrial. Most end-user segments have shown some recovery from the recession of 2008 to 2009, and their overall outlook is cautiously positive. However, there are two main areas of uncertainty. Firstly, although there is growing consensus that we are now reaching the bottom of the cycle in marine new building, the upturn has not yet occurred. Secondly, concerns remain about Buildings and Infrastructure and related [...]

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Strategic direction

The vision for our Performance Coatings business is to be the leading coatings company from a performance perspective. By 2015, our expected outcomes are to achieve a return on sales level of 12 percent and a return on investment of 25 percent. The actions that we are taking to deliver on these targets are: Drive overarching performance improvement initiatives Pursue differentiated growth strategies Deliver business-specific plans Drive overarching performance improvement initiatives We have defined improvement actions that apply to all parts of our business. These initiatives are instrumental to both revenue and cost improvement. The actions include: Continuously [...]

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Other indicators

[...] due to adverse currencies and overall flat volumes, but with continued variability between individual segments. Volumes were down at the start of the year compared with 2012 – reflecting the difficult trading conditions – but gradually improved It was a year of continued soft demand for Specialty Chemicals, with low activity being particularly evident in construction-related products, pulp bleaching and the plastics industries. In addition to the general slowdown in demand, we had new plant start-ups and extended maintenance stops earlier in the year, which impacted production temporarily Revenue in € millions Revenue development in % versus 2012 Divestments [...]

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Value chain

[...] across the value chain Value for society through the positive impact of our products in our end-user segments Value for our business by focusing on our end-user segments – delivering growth and profitability Key performance indicators – value chain Ambition Target Target 2010 2011 2012 2013 2013 2015 2020 1 2010-2012 restated due to KVC review. 2 Product related (raw materials and packaging). 3 Non-product related. Carbon footprint Carbon footprint cradle-to-grave per ton of product (% reduction from 2012) – – 0 2 – – 25-30 Carbon footprint cradle-to-gate per ton of product (% reduction from 2009)1 1 3 1 4 5 10 – Carbon footprint own operations (Mton [...]

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Note 6: Supply chain

Working with our suppliers in order to create a sustainable supply base and deliver customer benefits, as well as improving resource efficiency, is a fundamental requirement of our strategy. This means that we have to work together effectively. We have supplier management programs in place that support both performance improvement and opportunities for joint developments. We have identified two supplier segments for particular attention, based on the potential risks and opportunities. Critical suppliers are those in high growth countries where we want to build a long-term, mature supply base. Selection may be based on risks associated with labor conditions, [...]

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Supervisory Board Chairman's statement

[...] throughout 2013 and I do not expect an early improvement in the trends facing our end-user market segments. I am convinced, however, that our CEO Ton Büchner, together with his dedicated team, will be able to drive AkzoNobel through these difficult economic circumstances. The acceleration of the performance improvement program and the strategy announced in February 2013 are clearly the right focus for the company to have. With the additions of Conrad Keijzer, Ruud Joosten and Marten Booisma to the Executive Committee, we have a committed and enthusiastic team with excellent strategic knowledge and operational skills which will be of great benefit to the company as [...]

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