AkzoNobel : 4Q20 EBITDA 9% beat; expect 2021 consensus +8%
>4Q20 adjusted EBITDA 9% ahead of consensus - AkzoNobel reported significantly better than expected 4Q20 results. Revenue of EUR 2,209m were down 1% yoy, but 1% abobe consensus (Vara). Volumes were +6%, while price/mix was +1%. Adjusted EBITDA of EUR 380m was up 22% yoy and 9% above consensus. Decorative Paints revenues were up 3% yoy at EUR 901m, in line with consensus. Adjusted EBITDA of EUR 160m was up 26% yoy, but 5% below consensus, as the EBITDA margin was 90bps...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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