AkzoNobel : 2Q21 adjusted operating income 3% miss; expect 2021 consensus -1-2%
>2Q21 adjusted operating income 3% below consensus - AkzoNobel reported significantly weaker than expected 2Q21 results. Revenue of € 2,511m were up 26% yoy and 3% ahead of consensus (Vara). Volumes were +26%, while price/mix was +1% (price +4.5% and mix -3.1%). Adjusted operating income of € 335m was up 41% yoy and 3% below consensus. This growth was driven by 120% volumes and 37% price, which was partly offset by -3% FX, -26% mix, -54% raw materials, -28% opex savin...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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