AkzoNobel publishes results for first quarter 2022
Highlights Grow & Deliver (compared with Q1 2021)
- Revenue up 12% and 10% higher in constant currencies1, driven by strong pricing (up 17%)
- ROS2 at 9.1% (2021: 13.6%), resulting from continued raw material and freight costs inflation and supply constraints
- Adjusted EBITDA at €317 million (2021: €391 million)
Highlights Q1 2022 (compared with Q1 2021)
- Pricing initiatives more than offset the increase of raw material and other variable costs (including freight), which combined increased €334 million compared with Q1 2021. Volumes 7% lower
- Operating income at €232 million (2021: €303 million), includes €2 million net positive impact from identified items (2021: €4 million net negative impact). OPI margin 9.2% (2021: 13.4%)
- Adjusted operating income3 at €230 million (2021: €307 million)
- Net cash from operating activities decreased to negative €102 million (2021: negative €31 million)
- Net income attributable to shareholders at €154 million (2021: €217 million)
- EPS from total operations at €0.87 (2021: €1.15); adjusted EPS from continuing operations at €0.86 (2021: €1.18)
1 Constant currencies calculations exclude the impact of changes in foreign exchange rates
2 Return on sales (ROS) is adjusted operating income as percentage of revenue
3 Adjusted operating income = operating income excluding identified items
See attached document for full report.
AkzoNobel