Akzo Nobel has published results for the second quarter of 2021.
Highlights Q2 2021
- Revenue 26% higher than Q2 2020 with 4.5% price increase
- Adjusted operating income at €335 million, 41% higher than Q2 2020 and up 10% from Q2 2019
- Acquisition of Colombia-based Grupo Orbis announced, expected to be completed by end of 2021 or early 2022
“We’re very proud of our teams for delivering another strong quarter, including top line growth, despite the significant raw material headwinds impacting our industry,” says AkzoNobel CEO, Thierry Vanlancker.
“In view of the ongoing raw material inflation, we continue to take firm and necessary actions on pricing initiatives and maintaining our cost discipline, while remaining focused on serving our customers.
“Our People. Planet. Paint. approach to sustainability has again been recognized with the highest possible ESG rating (AAA) from MSCI for the sixth consecutive year, making us the frontrunner in paints and coatings.”
Deal agreed to acquire Colombia-based Grupo Orbis
We’re further expanding our position in South and Central America after reaching an agreement to acquire Colombia-based paints and coatings company Grupo Orbis. Present in 10 countries in South America, Central America and the Antilles, the deal will establish us as a frontrunner in the Andean region and in Central America, where several countries are high on the global growth rankings for the next decade.
Creating a more sustainable yacht industry
Our Yacht Coatings business has partnered with the Water Revolution Foundation to help create a more sustainable yacht industry and protect the world’s oceans. Having already made a long-term commitment to bring positive change to the industry, the business will share its expert knowledge and insight, which has been acquired over many decades of developing pioneering solutions for customers around the world. Established in 2018, the Water Revolution Foundation is a not-for-profit organization working to preserve the world’s oceans by helping the yacht industry to drive down its environmental impact.
Solar projects powering ahead in China
Two major projects to install around 8,000 solar panels are being finalized in China, helping us to accelerate our ambition of cutting carbon emissions in half by 2030. Being installed at two Decorative Paints plants – more than 5,000 at our Shanghai site and almost 3,000 in Guangzhou – it represents further progress for our greener manufacturing plans. The new solar systems will become the primary source of power at each location.
Paint the Future a big hit with pioneering startups
Our innovative Paint the Future startup challenge is continuing to attract interest from around the world. We received more than 200 submissions for our second global edition – which was launched in May – with a follow-up bootcamp event scheduled for November. Meanwhile, this year’s regional startup event in China attracted 210 submissions (the bootcamp is in August). The next regional edition will be launched in India in February next year, with a focus on digital customer solutions.