Consolidated statement of income

Consolidated statement of income

In € millions

20101

2011

2012

2013

2014

2015

20166,7

20177

2018

20198

1

Restated to present Decorative Paints North America as a discontinued operation and for the revised IAS19.

2

Not meaningful as operating income and net income were losses.

3

Cash dividend paid to shareholders of AkzoNobel.

4

Adjusted operating income = operating income excluding identified items.

5

ROS and ROI have been restated and are based on adjusted operating income. ROS% is calculated as adjusted operating income (operating income excluding identified items) as a percentage of group revenue. ROI% is calculated as adjusted operating income (operating income excluding identified items) of the last 12 months as a percentage of average invested capital of the last 12 months. Invested capital is calculated as total assets (excluding cash and cash equivalents, short-term investments, investments in associates, the receivable from pension funds in an asset position and assets held for sale) less current tax liabilities, deferred tax liabilities and trade and other payables. OPI margin is calculated as operating income as a percentage of group revenue.

6

Represented to present the Specialty Chemicals business as discontinued operations.

7

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

8

2019 includes the impact of the adoption of IFRS 16 “Leases”.

Revenue

13,605

14,604

15,390

14,590

14,296

14,859

9,434

9,612

9,256

9,276

Adjusted operating income4

1,325

1,154

972

897

1,072

1,462

928

905

798

991

Operating income

1,293

1,157

(1,198)

958

987

1,573

923

825

605

841

Financing income and expenses

(329)

(311)

(205)

(200)

(156)

(114)

(91)

(78)

(52)

(76)

Income tax

(176)

(241)

(203)

(111)

(252)

(416)

(234)

(253)

(118)

(230)

Results from associates and jointventures

25

24

13

14

21

17

18

17

20

20

Profit for the period from continuing operations

813

629

(1,593)

661

600

1,060

616

511

455

555

Discontinued operations

58

(59)

(436)

131

18

6

436

393

6,274

22

Non-controlling interests

(83)

(64)

(63)

(68)

(72)

(87)

(82)

(72)

(55)

(38)

Net income, attributable to shareholders

788

506

(2,092)

724

546

979

970

832

6,674

539

Common shares, inmillions at year-end

233.5

234.7

239.0

242.6

246.0

249.0

252.2

252.6

256.2

199.6

Dividend3

320

304

214

210

212

222

239

1,287

390

1,423

Number of employees at year-end

55,600

52,020

50,610

49,600

47,200

45,600

36,300

35,700

34,500

33,800

Average number of employees

55,100

51,100

52,200

50,200

48,200

46,100

36,200

36,200

34,900

34,200

Employee benefits

2,980

2,765

3,018

2,950

2,824

2,728

1,794

1,935

1,976

1,875

Average revenue per employee (in €1,000)

247

286

295

291

297

322

261

266

265

271

Average operating income per employee (in €1,000)

23

23

(23)

19

20

34

25

23

17

25

 

 

 

 

 

 

 

 

 

 

 

Ratios

 

 

 

 

 

 

 

 

 

 

ROS5

9.7

7.9

6.3

6.1

7.5

9.8

9.8

9.4

8.6

10.7

OPI margin

9.5

7.9

(7.8)

6.6

6.9

10.6

9.8

8.6

6.5

9.1

ROI5

11.6

10.0

8.2

9.0

10.9

14.0

14.4

13.9

12.6

14.1

Net income in% of shareholders’ equity

8.8

5.6

2

12.9

9.5

15.1

14.8

14.2

56.4

8.5

Employee benefits in % of revenue

21.9

18.9

19.6

20.2

19.8

18.4

19.0

20.1

21.3

20.2

Interest coverage

6.8

4.7

2

5.1

8.6

16.2

13.2

12.3

8.0

14.3

 

 

 

 

 

 

 

 

 

 

 

Per share information

 

 

 

 

 

 

 

 

 

 

Net income

3.23

2.04

(8.82)

3.00

2.23

3.95

3.87

3.31

26.19

2.53

Adjusted earnings per share

3.71

3.10

2.55

2.62

2.81

4.02

3.80

4.40

1.91

3.10

Shareholders’ equity

38.48

39.25

24.12

23.06

23.53

26.04

25.99

23.22

46.19

32.33

Highest share price during the year

47.70

53.74

49.75

56.08

60.77

74.81

64.74

82.64

82.70

91.86

Lowest share price during the year

37.18

29.25

35.16

42.65

47.63

55.65

50.17

59.11

68.82

69.12

Year-end share price

46.49

37.36

49.75

55.71

57.65

61.68

59.39

73.02

70.40

90.69