Akzo Nobel N.V.

Akzo Nobel N.V. is a holding company. Through its subsidiaries, Co. is engaged in the production and marketing of paints, coatings and specialty chemicals. Co. has three segments: Decorative Paints, which supplies products for the professional and do-it-yourself markets, including paints, lacquers and varnishes, as well as products for surface preparation; Performance Coatings, which is divided into the following businesses: Automotive and Aerospace Coatings, Industrial Coatings, Marine and Protective Coatings, and Powder Coatings; and Specialty Chemicals, which are used in products such as ice cream, soups, disinfectants, plastics, soaps, detergents, cosmetics, paper and asphalt.
  • TickerAKZA
  • ISINNL0000009132
  • ExchangeEuronext Amsterdam
  • SectorChemicals
  • CountryNetherlands

Analysts

Valérie GASTALDY

Analyse court terme - AKZO NOBEL : Les prix baissent.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 72,25 €. La tendance baissière serait remise en cause au-dessus de 80,71 €.

Valérie GASTALDY

Short term view - AKZO NOBEL : Falling prices.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €72.25. The bearish trend would be challenged above €80.71.

Valérie GASTALDY

Short term view - AKZO NOBEL : The movement goes on.

The trend is bearish. The movement goes on. The next target is at €72.25, then €69.17. Passing €80.71 would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - AKZO NOBEL : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 72,25 €, puis 69,17 €. Le franchissement de 80,71 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Analyse moyen terme - AKZO NOBEL : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 71,85 €. La tendance serait remise en cause par la rupture de 71,85 €.

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Marina Le Blanc
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/AkzoNobel narrows shortlist for Specialty Chemicals unit

AkzoNobel (AKZANA) has narrowed the shortlist of bidders for its Specialty Chemicals division to 4. The list now includes the team of Apollo together with Lanxess, Carlyle, the combination of Advent and Bain Capital and another private equity firm. KKR, together with CVC, left the bidding process. AkzoNobel has not made a final decision to spin-off or to sell the division, according to Bloomberg citing persons with knowledge of the situation. Spread neutral for AkzoNobel.

Akzo Nobel N.V. - March 2017 (LTM): Peer Snapshot

Peer Snapshot:  Akzo Nobel N.V. - March 2017 (LTM) 18 May 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-14 FYE Dec-15 LTM Dec-16

Akzo Nobel N.V.: PPG's third offer heightens credit risk relative to break-up plan

CORPORATES ISSUER COMMENT 26 April 2017 Contacts Francois Lauras 44-20-7772-5397 VP-Sr Credit Officer francois.lauras@moodys.com Anke N. Richter, CFA 44-20-7772-1433 Associate Managing Director anke.richter@moodys.com Akzo Nobel N.V. PPG's third offer heightens credit risk relative to break-up plan Akzo Nobel (Baa1 stable) has yet to respond to PPG Industries, Inc.’s (A3 negative) revised off

Akzo Nobel N.V. - December 2016 (LTM): Peer Snapshot

Peer Snapshot: Akzo Nobel N.V. - December 2016 (LTM) 22 March 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Sep-16

Akzo Nobel N.V.: Akzo Nobel announces strategic review of Specialty Chemicals business

CORPORATES ISSUER COMMENT 13 March 2017 Contacts Francois Lauras 44-20-7772-5397 VP-Sr Credit Officer francois.lauras@moodys.com Anke N. Richter, CFA 44-20-7772-1433 Associate Managing Director anke.richter@moodys.com Akzo Nobel N.V. Akzo Nobel announces strategic review of Specialty Chemicals business Akzo Nobel N.V. (Baa1 stable) announced that it has rejected an unsolicited indicative €20.9 bil

Rob Hales

Morningstar | AKZA Updated Forecasts and Estimates from 17 Oct 2018

No-moat AkzoNobel reported adjusted operating income of EUR 243 million in the third quarter, up 8% over 2017 and in line with consensus but slightly ahead of our expectations. Raw material costs remain a headwind. However, Akzo indicated the drag will be less pronounced in the fourth quarter, in line with our prior thinking. Despite challenging market conditions, Akzo improved margins through a 6% increase in prices over the prior-year period. We don’t expect to make a material change to our EUR 82 fair value estimate. At current levels, the shares are fairly valued. We believe AkzoNobel is ...

Rob Hales

Akzo Is Delivering in Tough Market Conditions; Shares Fairly Valued

No-moat AkzoNobel reported adjusted operating income of EUR 243 million in the third quarter, up 8% over 2017 and in line with consensus but slightly ahead of our expectations. Raw material costs remain a headwind. However, Akzo indicated the drag will be less pronounced in the fourth quarter, in line with our prior thinking. Despite challenging market conditions, Akzo improved margins through a 6% increase in prices over the prior-year period. We don’t expect to make a material change to our EU...

ING
Research Department

Benelux Morning Notes

AkzoNobel: 3Q18 EBIT in-line; announces next step in transformation. AMG: Doubling down on Vanadium. ASML: Comforting update and outlook. Barco: Touch weaker than expected 3Q18. Flow Traders: September ETP market volumes. Home Invest Belgium: Consortium acquires 51% of Sunparks De Haan. WDP: 52k sqm land acquisition in Belgium via capital increase

Alan Vandenberghe ...
  • Alexander Makar
  • Bart Cuypers
  • Guy Sips
  • Wim Hoste

KBC Securities Morning Note 17-10-2018 AKZA NA, ATEB BB, BAR BB, BBED NA, OPTI BB , HOMI BB, JEN BB, SOLB BB, TINC BB, WDP BB

Akzo Nobel: 3Q EBIT +8%, new € 200m savings program Atenor: First office project in Paris Region with HRO Barco: 3Q18 Orders and Sales below consensus Beter Bed Holding: Early 3Q TU and strategic update Crescent: 1H18 results, focus on the pro-forma figures Home Invest Belgium: 51.43% of shares in Sunparks De Haan Jensen-Group: Hurricane Michael’s impact Solvay: Divestment of Polyamides said to move forward TINC: Acquiring stake in Sunparks De Haan NV WDP: Expanding its critical mass on Asse-Zellik axis

Alexander Makar ...
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Wim Hoste

KBC Securities Morning Note 16-10-2018 AKZA NA, BANI BB, IVA FR, TWEKA NA, UMI BB

Akzo Nobel: Preview 3Q results Banimmo: Long-term lease in Chantilly Inventiva: Positive 2nd DSMB on NASH, last patient visit SSc TKH Group: Acquiring Lakesight Technologies Umicore: Technology consortium with BMW & Northvolt

1 director maiden bought

A director at Akzo Nobel Nv maiden bought 500 shares at 72.530EUR and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

By reducing its risk exposure, AKZO NOBEL NV improves to Slightly Positive

AKZO NOBEL NV (NL), a company active in Specialty Chemicals, reduces its risk exposure and improves its general evaluation despite the loss of a fundamental star(s). The independent financial analyst theScreener has removed a fundamental star(s) of the title, which now shows 1 out of 4 stars; conversely, its market risk is now considered lower and can be described as defensive. Despite the loss of a star, theScreener upgrades the general evaluation of the title to Slightly Positive. As of the analysis date October 26, 2018, the closing price was EUR 73.42 and its potential was estimated at EUR...

Nurhayati Wan

Akzo Nobel

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Nurhayati Wan

Akzo Nobel

Nurhayati Wan

Akzo Nobel

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Nurhayati Wan

Akzo Nobel

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/ASML, AkzoNobel, Danone and Iberdrola

ASML (ASML) reported solid 3Q18 numbers. Net sales amounted to €2.8bn, at the upper end of the company's own guidance of €2.7-2.8bn and market consensus of €2.75bn. The gross margin came in at 48.1%, as compared to 47-48% according to managements own previous estimate and 47.6% expected by the market. Management made reassuring comments about its industry outlook for 2019. ASML currently sees strong demand for its Logic and Memory products continuing into 2019. The outlook for the current quarter is constructive. ASML expects net revenues of c.€3.0bn and a gross margin of c.48%. We view this e...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Strategy, Tesco, Snam, Akzo and Italian 5G

CSPP announced on Tuesday (for once) this week with a bumper number of c.€1.3bn for the week and buying no less than 11 ISINs they have not bought before, all of them new issues. These issues represented no less than €7bn in new eligible debt that CSPP took advantage of. The back of the envelope therefore at 10% allocation then the programme added €700m in primary, leaving €600m in secondary, a continuation of the current trend of half in primary and half in secondary. (For full story, download report)

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/AB InBev and AkzoNobel

Moody's has placed AB InBev's (ABIBB) A3 rating on review for downgrade. The rating agency is concerned about the pace of deleveraging, which is falling behind expectations. Moody's initially expected net adjusted leverage to fall to c.4x within 2-2.5 years after the closing of the SABMiller transaction (Oct 2016). The rating agency calculated net adjusted leverage of 5.4x at for LTM 1H18. The slow pace of deleveraging is largely due to adverse currency effects and underperforming emerging economies. Moody's expects EBITDA to reach a run rate of $25bn per annum and cites stable cash flows. Due...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 30/11/2017

Akzo Nobel previously rejected a USD 29 billion take-over bid made by market leader PPG Industries earlier this year, thereby frustrating some of its shareholders. Activist investor Elliott led an aggressive campaign to force AkzoNobel to accept the take-over bid but was thwarted by a combination of resistance from managers, local institutional investors and even politicians who feared that a merger would result in thousands of Dutch jobs being lost.Since rejecting the last take-over bid by PPG Industries, AkzoNobel more recently announced it was in “constructive talks” to buy Philadelphia-bas...

Valérie GASTALDY

Analyse court terme - AKZO NOBEL : Les prix baissent.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 72,25 €. La tendance baissière serait remise en cause au-dessus de 80,71 €.

Valérie GASTALDY

Short term view - AKZO NOBEL : Falling prices.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €72.25. The bearish trend would be challenged above €80.71.

Valérie GASTALDY

Short term view - AKZO NOBEL : The movement goes on.

The trend is bearish. The movement goes on. The next target is at €72.25, then €69.17. Passing €80.71 would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - AKZO NOBEL : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 72,25 €, puis 69,17 €. Le franchissement de 80,71 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Analyse moyen terme - AKZO NOBEL : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 71,85 €. La tendance serait remise en cause par la rupture de 71,85 €.

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