The hottest net debt is 1.6 billion, and AkzoNobel

Net debt of 1.6 billion! AkzoNobel layoffs 1300 people

net debt of 1.6 billion! AkzoNobel layoffs 1300 people

in the second quarter of 2020, the sales volume reached 1.987 billion euros, a year-on-year decrease of 19%; At a fixed exchange rate, it fell by 17%, mainly due to the impact of the COVID-19. The adjusted operating profit was 238million euros, a year-on-year decrease of 22%; The operating profit was 207million euros, a year-on-year decrease of 33%; The net profit attributable to shareholders was 129 million euros, a year-on-year decrease of 44.16%

Thierry vanlanker, CEO of AkzoNobel, said:

"Despite the continued weak market demand in the second quarter, our return on sales increased by 30 basis points to 14% driven by profit margin management and cost control. All employees of the company continue to focus on providing high-quality services to customers, improving the resilience of performance, and providing assistance to communities affected by the epidemic. I am extremely proud of this. In the face of the uncertainties brought by the novel coronavirus pneumonia epidemic By promoting a strict cash management system and a strong balance sheet, we strive to improve performance and play the role of industry leader. "

situation in the first half of 2020

in the first half of 2020, the sales revenue of AkzoNobel decorative coating business was 1.653 billion euros (2019: 1.833 billion euros), a year-on-year decrease of 10%; The adjusted operating income increased to 239 million euros (2019: 196 million euros), an increase of 22% over the same period last year

the sales revenue of high-performance coatings business was 2.381 billion euros, a year-on-year decrease of 14%, and a decrease of 13% at a fixed exchange rate. Sales revenue was positively affected by the 2% price/product portfolio increase in CPE consumption, while sales fell by 15%, mainly due to the impact of the COVID-19 on end market demand. The operating profit of this business was 293million euros, a year-on-year decrease of 13%

the sales revenue of decorative coatings in Asia in the first half of 2020 was 381million euros, a year-on-year decrease of 27%, and a decrease of 27% at a fixed exchange rate. Due to the impact of the COVID-19 at the beginning of the year, China's sales volume decreased to some extent. The rotation of local test pieces was driven by electromechanical devices, and then returned to the previous level. The market chaos caused by the epidemic affected many countries in Asia, especially India, in the second quarter

the sales revenue of powder coatings, marine and protective coatings, automotive and special coatings, and industrial coatings was 514million euros, 547million euros, 536million euros, and 784million euros respectively, a year-on-year decrease of 16%, 14%, 19%, and 9% respectively

situation in the second quarter of 2020

AkzoNobel's sales revenue in the second quarter of 2020 was 1.987 billion euros, a year-on-year decrease of 19%, and a decrease of 17% at a fixed exchange rate, mainly due to the impact of the COVID-19. The adjusted operating profit was 238million euros, a year-on-year decrease of 22%; The operating profit was 207million euros, a year-on-year decrease of 33%; The net profit attributable to shareholders was 129 million euros, a year-on-year decrease of 44.16%

the sales revenue of decorative coatings business was 899 million euros, a year-on-year decrease of 10% and a decrease of 6% at a fixed exchange rate, which was mainly due to the impact of the COVID-19: demand in Europe and China rebounded strongly, returning to the previous level, while other regions continued to be affected for most of the quarter

the sales revenue of decorative coatings in Asia in the second quarter of 2020 was 203million euros, a year-on-year decrease of 29% and a decrease of 27% at a fixed exchange rate. South Asia is most affected by the COVID-19. By the end of the second quarter, the demand of China and Vietnam had almost returned to the previous level, and the blockade to varying degrees had led to market disruption, especially in India

the number of staff decreased by 1300 in the half year

the semi annual report showed that the adjusted earnings per share from continuing operations was 1.51 euros, an increase of 8% year-on-year. As of June 30, 2020, net debt was 1.683 billion euros (2019: 62million euros), mainly due to the stock repurchase program and dividends paid. In addition, by the end of the second quarter of 2020, the group had 33200 employees, a year-on-year decrease of 1300 from 34500 at the end of the second quarter of last year