Our global partnership with SOS Children’s Villages has been extended for another three years. Part of our “Let’s Colour” initiative, the collaboration has already benefited more than 20,000 children and young people all over the world. It will continue to focus on renewing living spaces and offer practical skills training so that young people, families at risk and children without adequate parental care can have a brighter future.
The outbreak of COVID-19 has not only seen us continue to supply our products to critical industries around the world. Our businesses and employees have also made every effort to support local projects and community initiatives in an effort to help as many people as possible.
The battle to keep interior walls stain-free has escalated following the launch of Dulux EasyCare+. Reinforced with Scuff Resist technology, the paint forms a durable matt coating, providing extraordinary mechanical strength. So it prevents those familiar battle scars you often get when plastic, rubber or wood is knocked against a wall.
Our Interpon powder coatings continue to make an important contribution to critical industries around the world. We recently expanded our antimicrobial offering (which already includes products for hygiene sensitive environments such as hospitals) by enhancing the functionality of our Interpon D1000 and 2000 range of architectural powder coatings. The inclusion of BioCote® antimicrobial technology means that building interiors can now be given increased protection against microbes such as bacteria and mold – which can cause issues such as bad odors, staining or material degradation.
*BioCote® technology does not protect users or others against disease-causing bacteria, germs, viruses or other harmful organisms. This technology is not a substitute for good hygiene and/or cleaning practices.
We received nearly 200 entries for our internal Paint the Future innovation challenge. It aimed to capture some of the creative thinking which emerged over the last few months following the COVID-19 outbreak, as employees improvised and learned to adapt to new and challenging situations. A group of 500 employees from across the company was invited to rate the ideas and drew up the shortlist which was used to determine the winners.
Our CEO, Thierry Vanlancker, has signed the Declaration of Amsterdam to show AkzoNobel’s support for LGBTI+ inclusion. During the official signing event, he said he wanted everyone working at AkzoNobel to feel at home, and that all employees deserve a workplace where they feel respected and are offered equal opportunities, regardless of sexual orientation, race, gender or nationality. Organized by Workplace Pride, signing the declaration is a visible and very positive way for the company to show its commitment to creating an inclusive environment for everybody.
AkzoNobel has suspended its 2020 financial ambition in response to the significant market disruption resulting from the pandemic. COVID-19 will continue to impact the second half of 2020, although demand trends differ per region and segment in an uncertain macro-economic environment. Raw material costs are expected to have a favorable impact for the second half of 2020. Continued margin management and cost-saving programs are in place to address the current challenges. The company targets a leverage ratio of 1-2 times net debt/EBITDA by the end of 2020 and commits to retain a strong investment grade credit rating.
The report for the second quarter 2020 can be viewed and downloaded here.