AkzoNobel’s Q1 results show 31% profitability improvement, despite headwinds from COVID-19
AKZO NOBEL N V S/ADR (AKZOY)
US:NASDAQ Investor Relations:
akzonobel.com/for-investors/shares/adr
Company Research
Source: GlobeNewswire
April 22, 2020 CEO Thierry Vanlancker AkzoNobel’s Q1 results show 31% profitability improvement, despite headwinds from COVID-19 Akzo Nobel N.V. (AKZA; AKZOY) publishes results for first quarter 2020 Highlights Q1 2020 Adjusted operating income1 up 31% at €214 million (2019: €163 million), despite impact from COVID-19Return on Sales, excluding unallocated costs,2 increased to 12.4% (2019: 9.1%) with price/mix up 2%Operating income up 65% at €187 million (2019: €113 million); OPI margin improved to 9.1% (2019: 5.2%)Transformation and other savings delivered €44 million lower costs (compared with the first quarter of 2019)€408 million of €500 million share buyback program executed during Q1 2020 Q1 2020 (compared to Q1 2019) Revenue 6% lower and 5% lower in constant currencies3, w
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