• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Research
    • Markets & Technologies
    • Raw Materials
    • Top Companies
    • Directories
    • Jobs
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Research
  • Markets & Technologies
  • Raw Materials
  • Top Companies
  • Directories
  • Jobs
  • Events
  • Microsites
  • Current / Back Issues
    Features
    Business Corner
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Subscribe Now
    Advertise Now
    World Reports
    eBook
    Top Features
    Purdue’s Xiulin Ruan Develops World’s Whitest and Coolest Paint

    Aerospace Coatings

    Biocides Directory

    Lab & Testing Equipment Directory

    Europe’s Top Paintmakers Pull Themselves Up Further
    Breaking News
    Online Exclusives
    Distributor News
    Financial News
    Paint & Coatings Manufacturer News
    People In the News
    Price Increases
    Product News
    Raw Materials & Equipment
    Video Bites
    Suppliers News
    Live From Shows
    Top News
    AkzoNobel to Supply Porsche China with Complete Water-Based Refinish Range

    Evonik Earns ACC’s Sustainability Leadership Award

    Sandrine Garnier Joins ChemQuest as a Director

    Greenbuild Announces 2023 Keynote Speaker

    PPG’s New Paint for a New Start Initiative to Beautify Schools Worldwide with Colorful Makeovers
    Top Companies report
    Market Research
    White Papers / Tech Papers
    Technical Papers
    Product Spec Sheets
    World Reports
    Adhesives and Sealants
    Aerospace Coatings
    Architectural Coatings
    Automotive Coatings
    Automotive Refinish
    Business Operation
    Color Trends & Forecast
    Construction Chemicals
    Corrosion Control
    Industrial Coatings
    Laboratory Equipment
    Marine Coatings
    Market Trends & Forecast
    Powder Coatings
    Production Equipment
    Radcure Coatings
    Special Purpose Coatings
    Wood Coatings
    "Green" Coatings

    AkzoNobel to Supply Porsche China with Complete Water-Based Refinish Range

    PPG’s New Paint for a New Start Initiative to Beautify Schools Worldwide with Colorful Makeovers

    Powder Technology, Inc. Announces New Electrical Coating

    Dunn-Edwards Announces 2024 Color + Design Trends to Watch

    PPG Launches Low-temperature Cure Electrocoats for Automotive Manufacturers
    Additives
    Binders
    Pigments
    Solvents

    Evonik Earns ACC’s Sustainability Leadership Award

    Michelman Chosen as Inaugural Recipient of Innovation Research Interchange (IRI) Excellence Award

    American Chemistry Council Recognizes Covestro for Sustainability Leadership

    Evonik Introduces TEGO Rad 2550 Slip and Defoamer Additive

    Omya Extends Lightweight Fillers Portfolio with the Acquisition of Bublon
    Company Capabilities
    Buyers Guide
    Distributor Guide
    Add New Company
    International Buyers Guide Companies
    EPS

    W. R. Grace & Co.

    Siltech Corporation

    Active Minerals

    Clariant Additives
    Industry Events
    Webinars
    Live From Show Event
    Top Events
    Middle East Coatings Show

    2023 CoatingsTech Conference

    Greenbuild International Conference + Expo

    The Gulf Coatings Show

    Western Coatings Symposium 2023
    Companies
    White Papers/Tech Papers
    Product Spec Sheets
    Equipment
    Literature/Brochures
    Videos
    International Buyers Guide Companies
    EPS

    W. R. Grace & Co.

    Siltech Corporation

    Active Minerals

    Clariant Additives
    • Magazine
      • Current / Back Issues
      • Features
      • Editorial
      • Business Corner
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
    • Breaking News
    • Directories
      • Buyers Guide
      • Distributor Guide
      • Corporate Capabilities
      • Trade Associations
      • Add Your Company
    • Markets & Technologies
      • Adhesives and Sealants
      • Aerospace Coatings
      • Architectural Coatings
      • Automotive Coatings
      • Automotive Refinish
      • Business Operation
      • Color Trends & Forecast
      • Construction Chemicals
      • Corrosion Control
      • Industrial Coatings
      • Laboratory Equipment
      • Marine Coatings
      • Market Trends & Forecast
      • Powder Coatings
      • Production Equipment
      • Radcure Coatings
      • Special Purpose Coatings
      • Wood Coatings
      • "Green" Coatings
    • Raw Materials
      • Additives
      • Binders
      • Pigments
      • Solvents
    • World Reports
      • Africa Report
      • China Report
      • India/Asia Pacific Report
      • Europe Report
      • Latin America Report
      • Market Research
      • Russian Report
    • Top Companies
    • Online Exclusives
    • Glossary
    • Slideshows
    • Experts Opinions
    • Blog
    • eBook
    • Infographics
    • Videos
    • Podcasts
    • Whitepapers
    • Jobs
    • Microsites
      • Companies
      • White Papers/Tech Papers
      • Product Spec Sheets
      • Equipment
      • Literature/Brochures
      • Videos
    • Events
      • Industry Events
      • Live From Show Event
      • Webinars
    • About Us
      • About Us
      • Contact Us
      • Advertise With Us
      • Privacy Policy
      • Terms of Use
    Breaking News

    AkzoNobel Makes Progress on Transformation into 'Focused' Paints, Coatings Company

    ...

    AkzoNobel Makes Progress on Transformation into
    04.24.18
    Akzo Nobel N.V. published the results for the first quarter 2018.
     
    AkzoNobel (Paints and Coatings):
    • Successfully completed the dual-track process for the separation of Specialty Chemicals; AkzoNobel to sell Specialty Chemicals to The Carlyle Group and GIC for €10.1 billion; 
    • On track implementing "Winning together: 15 by 20" strategy
      • Transformation gaining momentum: program office up and running
      • Robust pricing initiatives ramping up: price increase successful in Q1 2018; second wave of price increases to come in 2018
    • Selling prices up three percent overall and for all businesses; 
    • Revenue down eight percent, mainly due to adverse foreign currencies (1 percent lower excluding currency impact) at €2,176 million;
    • Volumes three percent lower, mainly due to continued adverse market conditions in the marine, and oil and gas industries;
    • Savings from continuous improvement were €30 million and creating a fit-for-purpose organization delivered €10 million;
    • Adjusted operating income at €149 million (2017: €208 million) due to adverse foreign currencies, higher raw material costs and lower volumes not yet fully offset by increased selling prices and cost discipline;
    • ROS at 6.8 percent (2017: 8.8 percent); ROI at 13.2 percent (2017: 14.8 percent);
    • Adjusted EPS from continuing operations at €0.35 (2017: €0.50);
    • Net income from total operations up five percent to €253 million (2017: €240 million), including discontinued operations at €134 million (2017: €114 million)
    "We delivered a key milestone in creating two focused, high performing businesses with the agreement to sell Specialty Chemicals to the Carlyle Group and GIC for €10.1 billion,” CEO Thierry Vanlacker said. "Headwinds continue for Marine and Protective Coatings, as well as currencies and higher raw material costs. Results were lower compared to an exceptionally strong quarter last year.
     
    "We are ramping up our pricing initiatives and have implemented various cost discipline measures to deal with higher raw material prices,” he continued. “Initial savings from creating a fit-for-purpose organization are also being realized. The transformation is gaining momentum and we are on track for delivering 15 percent return on sales by 2020."
     
    Outlook AkzoNobel Paints and Coatings:
    Higher raw material costs and adverse effects from foreign currencies are projected to continue in 2018, especially during the start of the year. The company anticipates ongoing positive developments for Decorative Paints in all regions, particularly Asia. Trends for Performance Coatings are expected to be positive for most segments and regions, while still challenging for Marine and Protective Coatings. AkzoNobel continues to implement various measures to mitigate current market challenges, including increased selling prices and cost discipline. The "Winning together: 15 by 20" strategy will create a focused Paints and Coatings company and deliver the company’s 2020 guidance. 
     
    Paints and Coatings performance in Q1 2018
    Decorative Paints revenue decreased 8 percent mainly due to foreign currencies (down one percent excluding currency impact). Higher selling prices were offset by adverse mix effects. Volumes were one percent lower, despite growth in Europe. Volumes were lower in China compared to an exceptionally strong first quarter last year.
     
    Performance Coatings revenue was nine percent lower, mainly due to adverse currencies (down one percent excluding currencies). Pricing initiatives have continued to gain traction, with two percent price increases in the first quarter and further increases expected in the following quarters. Volumes were five percent lower, mainly due to adverse conditions in the marine, and oil and gas industries. Volumes increased for Powder Coatings, as well as Automotive and Specialty Coatings.
     
    Developments in Paints and Coatings in Q1 2018
    • AkzoNobel reinforced its commitment to customers in India, following the inauguration of a new €9 million facility in Mumbai for the production of Powder Coatings;
    • Consumers in Pakistan now have access to Dulux Promise. AkzoNobel launched a decorative paints product for the mass market segment;
    • Dulux Weathershield was relaunched in Asia featuring Smart Release Technology. This protects homes and buildings with even longer lasting protection against algae and fungus;
    • The most eye-catching car of the new Formula 1 season – McLaren's MCL33 – features innovative coatings supplied by AkzoNobel's Sikkens brand. This reduces the total weight of paint and decreases processing time by more than 50 percent;
    • AkzoNobel is developing a new high performance antifouling, which uses ultraviolet light-emitting diodes to prevent marine growth. It features underlying technology developed by Royal Philips
     Specialty Chemicals (reported as discontinued operations)
    • Revenue three percent lower (up 4 percent excluding currency impact) due to positive price/mix effects more than offset by adverse currencies and lower volumes
    • Volumes down one percent with lower volumes in some segments being partly offset by volume growth in Pulp and Performance Chemicals;
    • Adjusted operating income at €150 million (2017: €166 million). Restructuring costs of €32 million related to manufacturing network optimization projects and adverse currencies were partly offset by stronger price/mix effects and productivity improvements;
    • ROS at 12.0 percent (2017: 12.9 percent); ROI at 16.5 percent (2017: 15.6 percent)
     
    Specialty Chemicals performance in Q1 2018
    Revenue was three percent lower (up 4 percent excluding currency impact) with positive pricing impact being more than offset by adverse currencies and lower volumes. Industrial Chemicals benefited from strong pricing. Volumes were down one percent, with lower volumes in some segments, partly offset by volume growth in Pulp and Performance Chemicals
     
    Developments in Specialty Chemicals in Q1 2018
    • The company announced an investment of more than €12 million to expand capacity at Los Reyes, Mexico, for organic peroxides, which are used in the manufacture of a wide range of polymers;
    • A new state-of-the-art chlor-alkali joint venture plant with Evonik was inaugurated at Ibbenbüren, Germany. AkzoNobel Specialty Chemicals will receive chlorine and hydrogen from the facility;
    • AkzoNobel Specialty Chemicals announced a collaboration with Gasunie to study conversion of water into green hydrogen using sustainable power, and joined a partnership in Sweden to explore opportunities for both green hydrogen and "electrofuels";
    • The 2018 edition of the Imagine Chemistry challenge generated 150 innovative business ideas;
    • The company received its first power from the Bouwdokken wind park in the Netherlands. The milestone achievement is the result of a unique green energy purchasing consortium which also includes DSM, Google and Philips
     
     The Q1 2018 report can be viewed and downloaded at www.akzonobel.com/quarterlyresults
     
    Related Searches
    • china
    • akzonobel
    • protective coatings
    • polymers
    Suggested For You
    Evonik Corporation Evonik Corporation
    Evonik Corporation Evonik Corporation
    Protective Coatings Leader Hempel Brings Expertise to the Wind Industry Protective Coatings Leader Hempel Brings Expertise to the Wind Industry
    Henkel, Ford to Co-Present on Advanced Coatings at SURCAR 2021 Henkel, Ford to Co-Present on Advanced Coatings at SURCAR 2021
    BEHR Paint X Zillow Release Color Palette That May Help Homeowners See More Dollar Signs BEHR Paint X Zillow Release Color Palette That May Help Homeowners See More Dollar Signs
    BASF BASF's Coatings Division Employs Covestro's Ultra Line of Coating Hardeners
    Lanco Paints & Coatings Expands in the Americas Lanco Paints & Coatings Expands in the Americas
    LANXESS Completes Acquisition of Emerald Kalama Chemical LANXESS Completes Acquisition of Emerald Kalama Chemical
    Russian Coatings JSC Russian Coatings JSC
    SI Group Ranks in Top 5 Percent for Global Corporate Social Responsibility SI Group Ranks in Top 5 Percent for Global Corporate Social Responsibility
    BASF Reports Strong Second Quarter BASF Reports Strong Second Quarter
    WACKER Polymers to Raise Prices for Dispersions and Dispersible Powders in North America WACKER Polymers to Raise Prices for Dispersions and Dispersible Powders in North America
    PPG Board of Directors Approves Nearly 10 Percent Shareholder Dividend Increase PPG Board of Directors Approves Nearly 10 Percent Shareholder Dividend Increase
    Tanker Vessel M/T Calypso Validates Selektope Antifouling Ability Tanker Vessel M/T Calypso Validates Selektope Antifouling Ability
    GRI Renewable Industries and Hempel Enter into Strategic Partnership Agreement GRI Renewable Industries and Hempel Enter into Strategic Partnership Agreement

    Related Buyers Guide Companies

    • Evonik Corporation

      Evonik Corporation

      ...
      Rebecca Marshall, Communications Specialist 10.31.22

    • Evonik Corporation

      Evonik Corporation

      ...
      Lori Gladys, Communications Business Partner 09.30.22

    • Industrial Coatings | Paint & Coatings Manufacturer News
      Protective Coatings Leader Hempel Brings Expertise to the Wind Industry

      Protective Coatings Leader Hempel Brings Expertise to the Wind Industry

      Protective coatings provide the durability needed to ensure that wind turbines play their part in a sustainable future.
      09.22.21


    • Automotive Coatings | Breaking News | Paint & Coatings Manufacturer News
      Henkel, Ford to Co-Present on Advanced Coatings at SURCAR 2021

      Henkel, Ford to Co-Present on Advanced Coatings at SURCAR 2021

      Will highlight aluminum pretreatment for high volume vehicle bodywork and EV battery construction.
      09.20.21

    • BEHR Paint X Zillow Release Color Palette That May Help Homeowners See More Dollar Signs

      BEHR Paint X Zillow Release Color Palette That May Help Homeowners See More Dollar Signs

      Color Collection based on hues identified by Zillow Research to increase home value potential.
      09.16.21

    Loading, Please Wait..
    Trending
    • Sherwin-Williams Leads Global Paints Brands In Value: Brand Finance
    • PPG Opens $30-Million Battery Pack Application Center In China
    • Metropolitan New York Coatings Association Hosts Annual Meeting
    • PPG Launches Low-temperature Cure Electrocoats For Automotive Manufacturers
    • Beckers Conducts First LCA Of UV/EB Coil Coatings
    Breaking News
    • AkzoNobel to Supply Porsche China with Complete Water-Based Refinish Range
    • Evonik Earns ACC’s Sustainability Leadership Award
    • Sandrine Garnier Joins ChemQuest as a Director
    • Greenbuild Announces 2023 Keynote Speaker
    • PPG’s New Paint for a New Start Initiative to Beautify Schools Worldwide with Colorful Makeovers
    View Breaking News >
    CURRENT ISSUE

    June 2023

      View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Women in Nutraceuticals Names Global Lead in India Ahead of Nutrify C-Suite Summit
    Batory Foods Acquires Tri-State Companies
    Blue Diamond, Brightseed Partner To Discover New Almond Bioactives
    Coatings World

    Latest Breaking News From Coatings World

    AkzoNobel to Supply Porsche China with Complete Water-Based Refinish Range
    Evonik Earns ACC’s Sustainability Leadership Award
    Sandrine Garnier Joins ChemQuest as a Director
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Merit Medical Acquires AngioDynamics' Catheter Portfolio
    iCAD Strengthens Leadership Team
    HeartFlow's RoadMap Analysis Debuts in the U.S.
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Quell Therapeutics, AstraZeneca Partner on Engineered Treg Cell Therapies
    Charles River, INADcure Collaborate on Gene Therapy Manufacturing
    Lotus Clinical Research, Trialogics Partner for Clinical Trial Software Services
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Guerlain's 'Secret' Archive—the World's 1st Lipstick, Perfume, & Nivea Jar
    Mary Kay Supports Ocean Conservation & Coral Reef Protection
    TerraCycle and Wrinkles Schminkles Announce Recycling Program
    Happi

    Latest Breaking News From Happi

    Sabinsa Wins 2023 Technology Innovation Award in China for LactoSpore
    Cepsa Química’s Sustainable Lab Slashes Carbon Footprint Up to 80%
    CPL Aromas Launches 2022 Sustainability and Impact Reports
    Ink World

    Latest Breaking News From Ink World

    ITMA 2023 Opens with Mega Showcase of Innovative Solutions
    Kornit Digital Shows Enhanced Presto MAX at ITMA 2023
    Kornit Digital Unveils Apollo Platform, Enhanced Atlas MAX PLUS at ITMA 2023
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    AWT Labels & Packaging acquires ASL Print FX
    Avery Dennison announces new cohort of startups for AD Stretch Accelerator Program
    Appvion unveils new film label facestock
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Rascal + Friends Expands Distribution with Walmart
    ITMA ASIA + CITME Announce Second Location
    Andritz Partnership with Pellenc ST and Nouvelles Fibres Enters New Phase
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    SurGenTec's TiLink-L SI Joint Implant Gains FDA Nod
    Orthopedic Prosthetic Market to Eclipse $3.39 Billion by 2030
    Osso VR Launches Virtual Reality Training Program
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Sensirion Air Quality Sensors Harmonized with RESET Air Standard
    Identiv Introduces Industry’s First Battery-Free Metal Sensor IoT Devices
    Heliatek Joins European Solar PV Industry Alliance (ESIA)

    Copyright © 2023 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login