Consolidated statement of income

Consolidated statement of income

In € millions

2012

2013

2014

2015

20165 6

2017

2018

20197

2020

2021

Revenue

15,390

14,590

14,296

14,859

9,434

9,612

9,256

9,276

8,530

9,587

Operating income

(1,198)

958

987

1,573

923

825

605

841

963

1,118

Adjusted operating income1

972

897

1,072

1,462

928

905

798

991

1,099

1,092

Financing income and expenses

(205)

(200)

(156)

(114)

(91)

(78)

(52)

(76)

(69)

(39)

Income tax

(203)

(111)

(252)

(416)

(234)

(253)

(118)

(230)

(241)

(246)

Results from associates and joint ventures

13

14

21

17

18

17

20

20

25

26

Profit/(loss) for the period from continuing operations

(1,593)

661

600

1,060

616

511

455

555

678

859

Discontinued operations

(436)

131

18

6

436

393

6,274

22

(7)

6

Non-controlling interests

(63)

(68)

(72)

(87)

(82)

(72)

(55)

(38)

(41)

(36)

Net income, attributable to shareholders

(2,092)

724

546

979

970

832

6,674

539

630

829

Common shares, in millions at year-end

239.0

242.6

246.0

249.0

252.2

252.6

256.2

199.6

190.6

181.6

Dividend2

214

210

212

222

239

1,287

390

1,423

366

365

Number of employees at year-end

50,610

49,600

47,200

45,600

36,300

35,700

34,500

33,800

32,200

32,800

Average number of employees

52,200

50,200

48,200

46,100

36,200

36,200

34,900

34,200

33,000

32,700

Employee benefits

3,018

2,950

2,824

2,728

1,794

1,935

1,976

1,875

1,850

1,773

Average revenue per employee (in €1,000)

295

291

297

322

261

266

265

271

258

293

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

(23)

19

20

34

25

23

17

25

29

34

 

 

 

 

 

 

 

 

 

 

 

Ratios

 

 

 

 

 

 

 

 

 

 

ROS3

6.3

6.1

7.5

9.8

9.8

9.4

8.6

10.7

12.9

11.4

OPI margin

(7.8)

6.6

6.9

10.6

9.8

8.6

6.5

9.1

11.3

11.7

ROI3

8.2

9.0

10.9

14.0

14.4

13.9

12.6

14.1

16.1

16.0

Net income in % of shareholders’ equity

4

12.9

9.5

15.1

14.8

14.2

56.4

8.5

11.0

15.3

Employee benefits in % of revenue

19.6

20.2

19.8

18.4

19.0

20.1

21.3

20.2

21.7

18.5

Interest coverage

4

5.1

8.6

16.2

13.2

12.3

8.0

14.3

18.5

18.0

 

 

 

 

 

 

 

 

 

 

 

Per share information

 

 

 

 

 

 

 

 

 

 

Net income

(8.82)

3.00

2.23

3.95

3.87

3.31

26.19

2.53

3.29

4.48

Adjusted earnings per share

2.55

2.62

2.81

4.02

3.80

4.40

1.91

3.10

3.88

4.07

Shareholders’ equity

24.12

23.06

23.53

26.04

25.99

23.22

46.19

32.33

30.26

30.32

Highest share price during the year

49.75

56.08

60.77

74.81

64.74

82.64

82.70

91.86

91.60

107.80

Lowest share price during the year

35.16

42.65

47.63

55.65

50.17

59.11

68.82

69.12

48.50

83.50

Year-end share price

49.75

55.71

57.65

61.68

59.39

73.02

70.40

90.69

87.86

96.50

1

Adjusted operating income is operating income excluding identified items.

2

Cash dividend paid to shareholders of AkzoNobel.

3

ROS has been restated and are based on revenues from third parties. ROS% is calculated as adjusted operating income(operating income excluding identified items) as a percentage of revenues from third parties (as from 2020, before 2020 this was based on 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 has been restated and is calculated as operating income as a percentage of revenues from third parties.

4

Not meaningful as operating income and net income were losses.

5

Represented to present the Specialty Chemicals business as discontinued operations.

6

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

7

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