AkzoNobel Delivers Q3 Results

AkzoNobel Q3 2020:

Revenue 5% lower, while up 1% in constant currencies. Volumes up 3%, showing strong demand for Decorative Paints, partly offset by lower volumes of Performance Coatings and unfavorable price/mix of 1%;
Adjusted operating income up 18% at €353 million (2019: €300 million); ROS increased to 15.5% (2019: 12.5%);  
Operating income of €326 million includes €27 million negative impact from identified items, related to transformation costs (2019: €247 million operating income, including €53 million negative identified items); OPI margin up at 14.3% (2019: 10.3%);
Net income attributable to shareholders increased 36% to €220 million (2019: €162 million);
Adjusted EPS from continuing operations up 34% at €1.30 (2019: €0.97); EPS from total operations at €1.15 (2019: €0.79);
Interim dividend of €0.43 per share (2019: €0.41)
Growth in volumes of 3%, with strong demand trends for most segments and regions;
Total cost savings delivered €49 million, of which €27 million structural savings related to transformation initiatives;
Net cash from operating activities improved by 46% to €457 million (2019: €312 million); maintained a strong balance sheet;
On Oct. 19, the acquisition of Titan Paints in Spain was announced, with completion expected before the end of Q1 2021;
€300 million share buyback announced, to be completed in the first half of 2021