AkzoNobel : Proactive margin protection trajectory continued, despite headwinds
>3Q21 a tad soft, slight beat in performance coatings - AkzoNobel’s 3Q21 results were a tad soft versus Vara consensus, with a 1% miss on both adjusted operating income and sales. At the group level, pricing was up 9%, mix was up 2% and volumes were down 6% (total 3Q21 sales growth: 6%). Decorative paints (sales 4% below cons.) saw adjusted EBIT come in 2% below cons. on lower-than-anticipated volumes (-11% yoy on DIY normalisation, supply constraints and SE Asia lock...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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