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Strategy and targets

In 2013, we announced a new vision, targets and strategy. Since then, it has been fine-tuned and cascaded throughout the company. Key enablers such as aligned core principles and values have now been developed. Our strategic targets Return on sales Achieve return on sales (operating income/revenue) of 9 percent by 2015 Return on investment Achieve return on investment (operating income/ average invested capital) of 14 percent by 2015 Net debt/EBITDA Maintain net debt/EBITDA lower than 2.0 by 2015 Resource efficiency Improve resource efficiency across the full value chain Carbon emissions Reduce our carbon emissions across the value chain by 25 to 30 percent per ton [...]

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This section provides an overview of our strategic priorities and gives details of the targets to which we aspire. You will also find the Chairman’s statement and learn about how we manage operational risks. Chairman’s statement Our businesses End-user segments Strategy and targets Risk management

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Report of the Supervisory Board

[...] and responsibilities as of the 2014 AGM. Considerable time was devoted to discussing the company’s strategy and reviewing strategic options with the CEO. Business Area, business unit and functional strategies were presented to the Supervisory Board following the strategic review sessions at company level with the Executive Committee. In 2013, these included the presentation of the Powder Coatings business’ strategy, while both the Legal function and Integrated Supply Chain gave strategy updates. The Board of Management kept the Supervisory Board regularly informed of intended organizational changes, appointments of senior managers and major contracts. The [...]

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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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Chairman's statement

Leading market positions delivering leading performance Ton Büchner CEO and Chairman of the Board of Management and Executive Committee “We continued to make progress on our strategy and 2015 targets” Dear stakeholder 2013 was a year of initiating a process of change. We launched a new organic growth and operational excellence strategy with a new vision, new financial targets and clearly defined targets for sustainability. Our new executive team also established itself, and we adapted the short and long-term incentives for an extended group of executives in order to align them with our new strategy. The original targets for our performance improvement program [...]

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Note 11: Our people

[...] past, and support us in driving a culture of excellence in business performance and integrity. See the Strategy section for a detailed description. In October, an awareness campaign was launched and we have taken initial steps to integrate our new values and behaviors into key HR processes – recruitment, assessment, performance management and talent development. The new values and behaviors, and new talent management approach, strongly support the implementation of our strategy at all levels of the company, driving an engaged workforce focused on delivering leading performance. Employee engagement We want to be an employer of choice with an engaged workforce. [...]

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Supervisory Board Chairman's statement

2013 was an inspiring year for AkzoNobel. Although we experienced constant headwinds due to the economic environment, the year was notable for the roll-out of our new company strategy. It was also the year in which AkzoNobel was once again ranked number one in the Materials industry group on the Dow Jones Sustainability Index. The challenging economic conditions persisted 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 [...]

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Note 5: Climate change

Our Carbon Policy and cradle-to-gate carbon footprint intensity targets have been in place since 2009. In our 2020 sustainability strategy, carbon footprint takes an even more important role – not only for its measure of impact on climate change, but also because we are using it as a proxy for how efficiently we are using raw materials and energy in our products (see Value chain page). Carbon footprint cradle-to-grave Our target is to reduce our cradle-to-grave carbon footprint by 25-30 percent per ton of sales between 2012 and 2020. The cradle-to-grave footprint adds the impact from our customer applications and end-of-life of our products to the cradle-to-gate [...]

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Note 3: Stakeholder engagement

[...] and NGOs. This section includes some highlights. More details can be found on our website and in the Strategy section and other chapters of this Report 2013: Communities: Note 13 of this section Customers: Business performance section Employees: Note 11 of this section Investors: Governance and compliance section Suppliers: Note 6 of this section Specific sustainability/research organizations and NGOs: Note 3 of this section Stakeholder engagement in 2013 Our stakeholder engagement activities are linked to our sustainability and business strategy, because becoming radically resource efficient is a huge challenge which we can’t accomplish alone. Investing in [...]

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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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