AkzoNobel delivers strong Q3 results with 3% growth in volumes and 18% increase in adjusted operating income
Highlights Q3 2020
- ROS, excluding unallocated costs, increased to 17.7% (2019: 13.8%) due to strong margin management and cost savings
- Growth in volumes of 3%, with strong demand trends for most segments and regions
- Total cost savings delivered €49 million, of which €27 million structural savings related to transformation initiatives
- Net cash from operating activities improved by 46% to €457 million (2019: €312 million); maintained a strong balance sheet
- On October 19, the acquisition of Titan Paints in Spain was announced, with completion expected before the end of Q1 2021
- €300 million share buyback announced, to be completed in the first half of 2021
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