AKZA; AKZOY
The company is taking maximum precautions to ensure the safety and well-being of its employees, while also taking all reasonable steps to sustain business operations and continue serving its customers.
As the situation continues to evolve, the company is constantly adapting its actions.
“It’s clear COVID-19 is having a huge impact – for you, for us at
“Headwinds related to COVID-19, including unpredictable and lower end market demand as well as various measures impacting our business operations, are increasing for most parts of the world and will have a significant impact during Q2. In
“The supply and demand balance and regulatory situation are complex, constantly evolving, and differs per region and segment. There is currently little reliable visibility on the second quarter, however we expect end market demand to be significantly below any of our previous expectations.
“We’re closely monitoring the pandemic situation and taking all necessary measures, including steps to rapidly reduce costs and carefully manage cash flows in the short-term. The significant market disruption forces us to pause key parts of our transformation and hence to suspend our 2020 financial ambition. Once markets normalize, we remain eager and passionate to resume our Winning together: 15 by 20 momentum to drive AkzoNobel’s performance in line with industry frontrunners.”
Financial results for the first quarter 2020 will be announced on
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Safe Harbor Statement
This press release contains statements which address such key issues such as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest annual report, a copy of which can be found on our website: www.akzonobel.com
Attachment
- 20200331 PDF COVID-19 update - media release
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