AkzoNobel's 2014 sales were 14.296 billion euros, down 2%

China Coatings
: Akzo Nobel released its full-year 2014 results on February 12, 2015, showing positive sales growth and improved sales returns. Sales in 2014 amounted to EUR 14,296 million, down 2% from 2013, with sales in all business areas up 1%, offset by adverse exchange rate impacts and divestitures. The return on sales, net of miscellaneous items, was 7.5 per cent (6.1 per cent in 2013).
operating income, net of miscellaneous items, was EUR 1,072 million (EUR 897 million in 2013), an increase of 20%. This was due to higher returns from ongoing operational efficiency improvement initiatives and reduced restructuring expenses, offset by increased miscellaneous expenses. Miscellaneous revenues in 2013 amounted to EUR 061 million, mainly due to the proceeds from divestitures, while miscellaneous expenses in 2014 were primarily used to address a number of legacy items, including external fraud at one of our subsidiaries in the United States and project expenses related to a divestiture. Net income attributable to shareholders amounted to EUR 546 million (EUR 724 million excluding special items in 2013). Full-year 2014 sales fell 2%, offset by adverse exchange rate effects and divestitures, although sales rose 1% between all business areas.
AkzoNobel Fourth Quarter 2014 Results (EUR million)
AkzoNobel Fourth Quarter 2014 Results (EUR million)
AkzoNobel Full Year 2014 Results (EUR million)
AkzoNobel's full-year 2014 results (million euros)
Chief Executive Officer Don Boehner
" For the full year 2014, we further improved our operating performance, clearly visible in terms of sales returns and return on investment. The launch of a number of business excellence initiatives will help us continue to grow our business organically. "
" 2014 was fraught with challenges, including adverse currency impacts, continued downturns in European markets, and slower growth in some economies in Asia and Latin America. During the year, we continued to build a solid business foundation and continued to move forward on the path to achieving our 2015 business goals. "
" 2014 we have also achieved a number of impressive results. Chief among them is our 'People and Cities' initiative and our partnership with the 100 Most Resilient Cities. We have also introduced the first carbon credit calculation system for the international shipping industry to help shipowners reduce their carbon dioxide emissions to achieve carbon credit gains. It is also a great joy that we are at the
top of the Dow Jones Sustainability Global Index (materials industry) for the third year in a row. The
a successful new operating model in Europe in its decorative paint business. Sales rose 1 per cent for the year, with Asia seeing the most significant growth. Sales were down 6% from 2013 due to divestitures and adverse currency exchange rates and adverse price and combined factors. Sales fell 1 per cent in the fourth quarter, mainly due to sales at German stores, offsetting a 3 per cent increase in sales in Asia and a 6 per cent increase in Latin America. There has been a marked improvement in operating performance.
continue
profitable
the high-performance coatings business, thanks to operational improvement initiatives and the successful launch of a new organizational structure that reduces management levels. Full-year sales growth in this business area was mainly due to increased sales of marine and protective coatings
and
powder coatings. Sales were flat from the previous year due to adverse currency exchange rates. Sales in the fourth quarter were up 4% from the same period in 2013, thanks to favorable currency exchange rates, prices and a combination of factors, including a 4% increase in powder coatings and an 8% increase in marine and protective coatings sales.
2014 sales and profit margins in the specialty chemicals business, which were attributed to significant savings as a result of the restructuring. Full-year sales rose 1%. Sales fell 1 per cent on a variety of headwinds, including price pressures from the highly unfavourable currency exchange rate in the first half of the year and disruptions in supply chains and production. Sales fell 1 per cent in the fourth quarter as production at the Rotterdam plant was disrupted and falling oil prices triggered a market reaction to inventory compression. Sales were flat from the previous year, with the negative impact of falling sales and divestitures offset by favourable currency exchange rates.
Outlook
We expect significant future developments in raw material prices, coupled with related exchange rate movements and declining growth rates in high-growth markets, which will have a significant impact on the development trend in 2015. Our preparations for 2013 and 2014 will provide a solid foundation for further improvement in 2015. AkzoNobel is making steady progress toward its 2015 goal.
full-year results:
's full-year sales down 2%: Sales in all business areas up 1%, offset by adverse exchange rate impacts and divestitures
. operating income excluding miscellaneous items was EUR 1,072 million (2013) EUR 897 million), up 20% YoY
Full-year operating income of EUR 987 million, up 3%, mainly due to improved operating results and lower restructuring costs, but offset by miscellaneous expenses
(ROS) was 6.9% (2013: 6.6%), and full-year return on sales excluding miscellaneous items was 7.5% (2013: 6.1%)
. 2.81 euros (2013: 2.62 euros)
net income attributable to shareholders amounted to 546 million euros (2013: 724 million euros)
Total dividend to be paid in 2014: EUR 1.45 per share (2013: EUR 1.45 per share)
Cash flow from operating activities amounted to EUR 811 million (2013: 716 million euros)
Fourth Quarter Results:
.4Q. Sales growth of 1%, offset by a 2% increase due to monetary factors, offset by a 1% decline in sales
EUR 900 million (2013: EUR 0.55 million), an increase of 207%, attributable to performance improvement initiatives and reduced restructuring costs
. Adjusted net income per share of EUR 0.33 (2013: -0.01 eur)
Outlook:
is on track to achieve its
2015 target