Akzo Nobel Conference call feedback
Below are the highlights from the conference call. We remind that Akzo's 3Q adjusted operating income jumped by 76% which was slightly better than our and consensus forecasts, driven by a rebound in gross margins (pricing slightly up and raw materials costs decreasing). Akzo finetuned its adjusted EBITDA guidance range from € 1.40-1.55bn to around € 1.45bn, which is roughly in line with our and consensus forecasts. We acknowledge the improvement in earnings momentum, but taken into account the volatile track record and tough macro conditions, we maintain our Hold rating and € 75 target price.Akzo Nobel N.V. is a holding company. Through its subsidiaries, Co. is engaged in the production and marketing of paints, coatings and specialty chemicals. Co. has three segments: Decorative Paints, which supplies products for the professional and do-it-yourself markets, including paints, lacquers and varnishes, as well as products for surface preparation; Performance Coatings, which is divided into the following businesses: Automotive and Aerospace Coatings, Industrial Coatings, Marine and Protective Coatings, and Powder Coatings; and Specialty Chemicals, which are used in products such as ice cream, soups, disinfectants, plastics, soaps, detergents, cosmetics, paper and asphalt.
We are a financial services provider for several types of professional clients, each with distinct needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.