AkzoNobel : Missed opportunity
>4Q20 adjusted EBITDA 9% above consensus - On 17 February, AkzoNobel reported 4Q20 results that were well ahead of market expectations. Adjusted EBITDA of € 380m was up 22% yoy and 9% above consensus (Vara). The beat was predominantly driven by Performance Coatings, which reported adjusted EBITDA of € 253m, up 27% yoy and 21% above consensus. The company announced a new € 1bn share buyback to be completed by 2Q22.Performance Coatings recovering faster tha...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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