- Successfully delivered 2015 financial targets:
record year, with return on sales at 10.6 percent and return on investment at 15.0 percent. Net debt/EBITDA at 0.6
- Total dividend proposed for 2015 up 7 percent at €1.55 (2014: €1.45)
- Operating income up 59 percent at €1,573 million, as a result of process optimization, lower costs, reduced restructuring expenses, favorable currency development and incidental items
- Revenue up 4 percent to €14,859 million (2014: €14,296 million), due to 6 percent favorable currency effects, partly offset by divestments and lower volumes
- Adjusted earnings per share (EPS) up 43 percent at €4.02 (2014: €2.81)
- Net income attributable to shareholders up 79 percent at €979 million (2014: €546 million)
- Net cash inflow from operating activities up 40 percent at €1,136 million (2014: €811 million)
- Ranked number one on the Dow Jones Sustainability Index in the Materials industry group
- 2016 expected to be a challenging year
Q4 and full-year 2015 report (PDF)
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year operating income increased 59 percent to €1,573 million (excluding incidentals up 36 percent at €1,462 million), as a result of process optimization, lower costs, reduced restructuring expenses, favorable currency developments and incidental items. The company was recognized as a leader in the field of sustainability by the Dow Jones Sustainability Index (the Materials industry group) for the fourth year in a row.
CEO Ton Büchner:
Looking ahead, we expect 2016 to be a challenging year and anticipate limited support from the markets in which we operate. We will continue to build on our foundation of operational excellence, adding organic growth and innovation to the next phase of our strategy, creating everyday essentials to make lives more liveable and inspiring."
Performance Coatings: Full-year operating income was up 45 percent, due to performance improvement initiatives, management delayering, lower costs, reduced restructuring expenses and currencies. Revenue was up 7 percent, driven by favorable price/mix and currencies offsetting lower volumes. Volumes were down 2 percent across the segments, impacted by lower demand in Brazil and ongoing spending declines in the global oil and gas industry.
Specialty Chemicals: Full-year operating income was up 20 percent due to continuous improvement programs, favorable currency effects, lower costs and incidental items. Revenue was up 2 percent due to favorable currency effects, partly offset by the divestment of the Paper Chemicals business and adverse price effects. Overall volumes were flat.
We expect 2016 to be a challenging year. Difficult market conditions continue in Brazil, China and Russia. No significant improvement is anticipated in Europe, particularly in the Buildings and Infrastructure segment. Deflationary pressures continue and currency tailwinds are moderating.
information on our financial guidance for 2016-2018 can be found on www.akzonobel.com.