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AkzoNobel Releases Report on '15 by 20' Initiative

Monday, March 15, 2021

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Global coatings company AkzoNobel has published its annual integrated report, highlighting the achievement of its “Winning Together: 15 by 20” return on sales goal.

The initiative, which began in 2017, had several goals including return on sales, return on investment and eco-premium solutions, among others.

AkzoNobel

Global coatings company AkzoNobel has published its annual integrated report, highlighting the achievement of its “Winning Together: 15 by 20” return on sales goal.

“All our hard work during the last three years paid off and we reached our Winning together: 15 by 20 ambition, despite the unparalleled headwinds,” said CEO Thierry Vanlancker. “The fact that we weathered the storm so well demonstrates our new-found resilience and I’m extremely proud of how we continued to look after our customers and performed together as an organization.”

According the report, key results include:

  • ROS – 15% (with a goal of 15%);
  • ROI – 20.6% (with a goal of 20%); and
  • EPS – 21% (with a goal of 20%).

In a brief history of the initiative, the company pointed to its early decision to spin off its Specialty Chemicals business (now known as Nouryon). Those proceeds were returned to shareholders at the end of 2019, just before the COVID-19 pandemic.

“So, we were well prepared for the final phase of the 15 by 20 journey, when COVID-19 forced us to pause key parts of our transformation and suspend our 2020 financial ambition. We focused on taking care of our employees while protecting our business, minimizing all discretionary costs and carefully managing cash and working capital,” the company said.

“The significant market disruption meant we occasionally had challenges in keeping up with rapid changes in demand. We took all reasonable steps to maintain business operations and continue serving customers. The actions taken, together with our strong balance sheet, provided a solid platform for us to resume key parts of the transformation during the second half of 2020.”

The full report outlines each segment’s part of the 15 by 20 initiative, including Industrial Coatings, Decorative Paints, Marine and Protective Coatings, Automotive and Specialty Coatings, and Powder Coatings.

   

Tagged categories: AkzoNobel; Asia Pacific; Business matters; EMEA (Europe, Middle East and Africa); Finance; Good Technical Practice; Latin America; North America; Z-Continents

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