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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Akzo Nobel N.V.    AKZA   NL0013267909

AKZO NOBEL N.V.

(AKZA)
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Akzo Nobel N : core profit beats as sales recover from coronavirus slump

10/21/2020 | 01:46am EST

AMSTERDAM, Oct 21 (Reuters) - Dutch paints and coatings maker Akzo Nobel reported on Wednesday a better-than-expected 18% jump in third-quarter core profit to 353 million euros ($418.16 million), as sales recovered from the deep fall due to the coronavirus crisis earlier this year.

Total revenues inched up 1% to 2.28 billion euros, stripped from currency fluctuations, showing a significant improval from previous months in which Akzo lost about a quarter of its sales due to economic lockdowns enforced across the globe.

Analysts polled by the company had expected adjusted operating income to increase to 339.6 million euros, on 2.26 billion euros in sales.

Akzo said the good results would enable it to buy back an additional 300 million euros worth of its own shares through the second half of next year.

The maker of the Dulux and Flexa brands of paints, which supplies to sectors ranging from aerospace to yachts, said demand for its decorative paints had been strong in the July-September period, offset by lower sales volumes of performance coatings.

"Headwinds related to COVID-19 continued to ease, although demand trends differ per region and segment in an uncertain macro-economic environment," Chief Executive Officer Thierry Vanlancker said.

Akzo last month already flagged an improvement in sales during the third quarter, as it predicted revenues to be close to the previous year in constant currencies. ($1 = 0.8442 euros) (Reporting by Bart Meijer, Editing by Shri Navaratnam and Rashmi Aich)


© Reuters 2020
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Financials
Sales 2020 8 524 M 10 288 M 10 288 M
Net income 2020 627 M 757 M 757 M
Net Debt 2020 993 M 1 199 M 1 199 M
P/E ratio 2020 27,2x
Yield 2020 2,15%
Capitalization 17 190 M 20 720 M 20 749 M
EV / Sales 2020 2,13x
EV / Sales 2021 2,02x
Nbr of Employees 32 400
Free-Float 99,8%
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Technical analysis trends AKZO NOBEL N.V.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Average target price 99,41 €
Last Close Price 88,94 €
Spread / Highest target 29,3%
Spread / Average Target 11,8%
Spread / Lowest Target -16,7%
EPS Revisions
Managers
NameTitle
Thierry F. J. Vanlancker Chief Executive Officer
Maarten de Vries Chief Financial Officer
Bernardus Johannes Maria Verwaayen Member-Supervisory Board
Byron Elmer Grote Deputy Chairman-Supervisory Board
Dick M. Sluimers Member-Supervisory Board
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