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.
  • TickerAKZAT
  • ISINNL0013267909
  • ExchangeEuronext Amsterdam
  • SectorChemicals
  • CountryNetherlands

Analysts

Nurhayati Wan

Akzo Nobel

Nurhayati Wan

Akzo Nobel

Rob Hales

Morningstar | AKZA Updated Forecasts and Estimates from 29 Apr 2019

AkzoNobel shares are trading down 4% intraday after reporting first-quarter results. EBIT was up 9% over 2018 but consensus was calling for a 22% jump. We did not have such ambitious expectations for the first quarter given still-high raw material costs and a softer global economic environment. With prices up 6%, 40 basis points added to the EBIT margin, and EUR 38 million in cost savings delivered in the quarter, we are satisfied with progress. Consequently, we don’t expect to make a material change to our EUR 82 fair value estimate. At current levels, the shares look fairly valued. Volumes ...

Nurhayati Wan

Akzo Nobel

Rob Hales

Morningstar | Akzo Continues to Improve but Below Market Expectations in First Quarter; Shares Fairly Valued

AkzoNobel shares are trading down 4% intraday after reporting first-quarter results. EBIT was up 9% over 2018 but consensus was calling for a 22% jump. We did not have such ambitious expectations for the first quarter given still-high raw material costs and a softer global economic environment. With prices up 6%, 40 basis points added to the EBIT margin, and EUR 38 million in cost savings delivered in the quarter, we are satisfied with progress. Consequently, we don’t expect to make a material change to our EUR 82 fair value estimate. At current levels, the shares look fairly valued. Volumes ...

Rob Hales

Morningstar | AKZA Updated Forecasts and Estimates from 29 Apr 2019

AkzoNobel shares are trading down 4% intraday after reporting first-quarter results. EBIT was up 9% over 2018 but consensus was calling for a 22% jump. We did not have such ambitious expectations for the first quarter given still-high raw material costs and a softer global economic environment. With prices up 6%, 40 basis points added to the EBIT margin, and EUR 38 million in cost savings delivered in the quarter, we are satisfied with progress. Consequently, we don’t expect to make a material change to our EUR 82 fair value estimate. At current levels, the shares look fairly valued. Volumes ...

Rob Hales

Morningstar | Akzo Continues to Improve but Below Market Expectations in First Quarter; Shares Fairly Valued

AkzoNobel shares are trading down 4% intraday after reporting first-quarter results. EBIT was up 9% over 2018 but consensus was calling for a 22% jump. We did not have such ambitious expectations for the first quarter given still-high raw material costs and a softer global economic environment. With prices up 6%, 40 basis points added to the EBIT margin, and EUR 38 million in cost savings delivered in the quarter, we are satisfied with progress. Consequently, we don’t expect to make a material change to our EUR 82 fair value estimate. At current levels, the shares look fairly valued. Volumes ...

Rob Hales

Morningstar | Akzo Nobel Company Report

With the specialty chemicals division now sold, AkzoNobel is a pure-play paints and coatings company. The company endured challenging market conditions following the financial crisis as a result of its high exposure to construction- and housing-related markets in Europe. However, economic conditions are now improving and AkzoNobel has had success increasing margins through cost-cutting, although some of the credit goes to a raw material tailwind over 2015-16 with the collapse in the oil price. The company's margins remain well below those of leading U.S.-based peers PPG and Sherwin-Williams. A...

Rob Hales

Akzo Nobel Company Report

No-moat AkzoNobel reported EBIT of EUR 181 million, broadly in line with consensus but ahead of our expectations. Shares are up 4% intraday, good enough to lead the group, which is interesting given the modest headline numbers. At the segment level, decorative paints EBIT was well below consensus while performance coatings was in line. Indeed, group EBIT would not have met consensus estimates if not for fewer charges in the “other activities/eliminations” segment. We think the market is reacting...

Nurhayati Wan

Akzo Nobel

Nurhayati Wan

Akzo Nobel

Nurhayati Wan

Akzo Nobel

Expert Corporate Governance Service (ECGS)

AkzoNobel - 25 April 2019 AGM

In general, AkzoNobel is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 5a, it is proposed to newly appoint Ms. Jolanda Poots-Bijl as Member of the supervisory board. Although she would qualify as independent board member, ECGS has concerns over her aggregate time commitments. Ms. Poots-Bijl is currently already serving as CFO of Royal van Oord (substantial non-listed company) and non-executive director of PON Holdings N.V, Gasunie N.V and Blokker Holding N.V (all substantial nonlisted companies). Taking into acco...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch