Ambitions for 2021-2023 include:
- Revenue growth ≥ market CAGR (compound annual growth rate)
- Return on sales (ROS) +50 basis points CAGR
ROS is adjusted operating income as percentage of revenue (including unallocated costs).
AkzoNobel CEO, Thierry Vanlancker, commented:
“Since 2017, we’ve kept a laser-sharp focus on our Winning together: 15 by 20 strategy and on the promises set at the time. The progress we’ve made has been reflected in AkzoNobel’s total shareholder return of 82% during the same time period.
“We’ve reignited our passion for paint and our transformation is on track. We’re now well on our way and gaining momentum, with the ambition to deliver ROS, excluding unallocated costs, of 14.5-15.5% for 2020. This relies on a significant amount of self-help and we expect no support from our end markets. It’s all within our own hands.
“Beyond 2020, we will balance growth and profitability improvement. Our ambitions for 2021-2023 are to grow at least in line with our relevant markets and deliver further profitability improvement. Ultimately, our goal is to take our rightful place among the frontrunners in paints and coatings, when it comes to both size and performance.”
The investor update – 2020 and beyond can be followed here.
The presentation of the investor update can be viewed here.
This is a public announcement by Akzo Nobel N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014).