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Recently, the world's three major paint giant American Shandwick paint (sherwin-williams), the United States PPG Industries, Inc.
and the Dutch Akzo Nobel (akzonobel) were released second quarter earnings.
Today (July 25), the global chemical giant BASF also released its 2019 second-quarter financial report.
Sherwin-Williams Sherwin-Williams paint coating PPG PPG Akzo Nobel Akzo Nobel , BASF BASF is the importance of self-evident in the second quarter, it proved the company's strategy is working, but also to reflect the situation in the second half of the deployment plan.
In terms of net sales of the three coating giants, Sherwin-Williams ranked first with 4.
88 billion U.
S.
dollars , followed by PPG with 4 billion U.
S.
dollars, and Akzo Nobel ranked third with 3.
396 billion U.
S.
dollars.
But in terms of growth rate, PPG seems to be standing still.
Sherwin-Williams only increased slightly by 2.
2%, while Akzo Nobel bucked the trend and increased by 36%, the first increase and outstanding performance.
Sherwin-Williams ranked first with US$4.
88 billion.
BASF’s second-quarter sales totaled 15.
2 billion euros, a year-on-year decline.On July 23, Sherwin-William disclosed its 2018 financial report.
As of the second quarter of June 30, 2019, consolidated net sales reached 4.
88 billion U.
S.
dollars, and the cumulative net sales in the first half of the year reached 8.
92 billion U.
S.
dollars.
The growth in the second quarter was mainly due to: ● Increased paint sales in North American stores; ● Continued progress in pricing initiatives in all market segments; ● Effective cost management, increased gross margins, and adjusted earnings per share increased by 15% year-on-year.
● The new customer plan launched in 2018 and the increase in sales prices were partially offset by weak demand in some end markets outside the United States and unfavorable currency conversion rate changes.
Chairman and CEO John G.
Morikis commented, “Shandwick achieved record results in all aspects in the second quarter, overcoming the imbalance in demand in end markets outside the United States.
Low raw material prices are forecast, and gross profit margins are expected to continue to improve in the second half of the year.
We expect that compared with the same period last year, the consolidated net sales in the third quarter will increase by a low-digit percentage.
The consolidated net sales for the full year of 2019 will be higher than that of 2018.
An annual increase of 2%-4%.
"On July 24, Akzo Nobel officially announced the financial report data for the second quarter of 2019.
Revenue in the second quarter reached 305 million euros ($339.
5 million), an increase of 87.
1% compared to 163 million euros in the first quarter.
The adjusted operating income and profit rose by 36%, and the sales return rate rose to 13.
7%.
Among them, the sales return rate of the decorative paint business increased to 13.
5% (12.
2% in the same period in 2018); the sales return rate of the high-performance coatings business increased to 13.
6% (11.
8% in the same period in 2018) .
The growth in the second quarter was mainly due to: ● Savings cost.
In the first quarter, the company achieved a cost saving of 38 million euros, and the cost savings in the second quarter increased to 43 million euros.
● Focus more on paints and coatings business: In the second quarter of 2019, Akzo Nobel’s decorative paint brand Dulux Valentine, launched a new product market competitive in France; in addition, Akzo Nobel’s high performance Architectural powder coatings and industrial coatings were adopted by the Hudson Yards project in New York, USA.
● Pay more attention to the market layout of the global coatings field.
Akzo Nobel announced on July 18 the acquisition of Mapaero, a French aerospace paint manufacturer.
Akzo Nobel CEO Thierry Vanlancker said: “The company has made gratifying progress in the second quarter.
In the face of weakening market trends, we will continue to focus on the implementation of established strategies, properly seize strategic growth opportunities, and strive to become A benchmark in the paint and coatings industry.
” Akzo Nobel will continue to implement the transformation plan, hoping to save one-time costs between 2019 and 2020, and achieve the goal of saving 200 million euros by 2020.
On July 24, Akzo Nobel officially announced the financial report data for the second quarter of 2019.
Revenue in the second quarter reached 305 million euros ($339.
5 million), an increase of 87.
1% compared to 163 million euros in the first quarter.
The adjusted operating income and profit rose by 36%, and the sales return rate rose to 13.
7%.
Among them, the sales return rate of the decorative paint business increased to 13.
5% (12.
2% in the same period in 2018); the sales return rate of the high-performance coatings business increased to 13.
6% (11.
8% in the same period in 2018) .
The growth in the second quarter was mainly due to: ● Savings cost.
In the first quarter, the company achieved a cost saving of 38 million euros, and the cost savings in the second quarter increased to 43 million euros.
● Focus more on paints and coatings business: In the second quarter of 2019, Akzo Nobel’s decorative paint brand Dulux Valentine, launched a new product market competitive in France; in addition, Akzo Nobel’s high performance Architectural powder coatings and industrial coatings were adopted by the Hudson Yards project in New York, USA.
● Pay more attention to the market layout of the global coatings field.
Akzo Nobel announced on July 18 the acquisition of Mapaero, a French aerospace paint manufacturer. On July 25, BASF released its financial report for the second quarter of 2019, with sales totaling 15.
2 billion euros.
Compared with the second quarter of last year, BASF's sales fell by 4%.
Excluding special items, EBIT was 1 billion euros, a decrease of 47% from the same period last year.
The main reasons for the fluctuations in the second quarter were: ●Equipment overhaul marketing ●Negative impact of North American weather ●Positive impact of exchange rate factors ●The acquisition of Bayer's seed and non-selective herbicide business, which brought a positive product portfolio effect of 2%.
Dr.
Boumulus, Chairman of the Executive Board of BASF Europe, said at the press conference: "The current situation is high uncertainty, low visibility and unpredictable.
The company's second quarter results clearly show this.
"
BASF's new strategy clearly defines a series of Measures to focus more on customer needs, improve efficiency, and establish a more efficient organizational structure.
A more streamlined structure and process is expected to save the company about 300 million euros per year.
● Planned layoffs: By the end of 2021, approximately 6,000 jobs will be reduced globally.
● Lower expectations: Significantly lower the growth expectations for global industrial production and global chemical production in 2019, both lowered from the previous forecast of 2.
7% to 1.
5%.
Akzo Nobel CEO Thierry Vanlancker said: “The company has made gratifying progress in the second quarter.
In the face of weakening market trends, we will continue to focus on the implementation of established strategies, properly seize strategic growth opportunities, and strive to become A benchmark in the paint and coatings industry.
” Akzo Nobel will continue to implement the transformation plan, hoping to save one-time costs between 2019 and 2020, and achieve the goal of saving 200 million euros by 2020.
Akzo Nobel has achieved remarkable results through cost-saving and pricing strategies.
PPG's net sales of automotive original equipment manufacturer (OEM) coatings experienced a high single-digit decline compared to the same period last year, which greatly restricted the growth rate in the second quarter.
Sherwin-Williams has made good progress in its pricing initiatives in various market segments, which puts it in a very advantageous position in all retail channels in North America.
Compared with the first quarter, Sherwin-Williams continued to hold the first throne.
In the first half of the year, BASF's coatings business fell to US$2.
1 billion, and automotive coatings fell sharply, which is inseparable from the obvious slowdown in global macroeconomic growth, and its business in the Chinese market will also slow down.
We will wait and see for the challenging macroeconomic environment.
and the Dutch Akzo Nobel (akzonobel) were released second quarter earnings.
Today (July 25), the global chemical giant BASF also released its 2019 second-quarter financial report.
Sherwin-Williams Sherwin-Williams paint coating PPG PPG Akzo Nobel Akzo Nobel , BASF BASF is the importance of self-evident in the second quarter, it proved the company's strategy is working, but also to reflect the situation in the second half of the deployment plan.
In terms of net sales of the three coating giants, Sherwin-Williams ranked first with 4.
88 billion U.
S.
dollars , followed by PPG with 4 billion U.
S.
dollars, and Akzo Nobel ranked third with 3.
396 billion U.
S.
dollars.
But in terms of growth rate, PPG seems to be standing still.
Sherwin-Williams only increased slightly by 2.
2%, while Akzo Nobel bucked the trend and increased by 36%, the first increase and outstanding performance.
Sherwin-Williams ranked first with US$4.
88 billion.
BASF’s second-quarter sales totaled 15.
2 billion euros, a year-on-year decline.On July 23, Sherwin-William disclosed its 2018 financial report.
As of the second quarter of June 30, 2019, consolidated net sales reached 4.
88 billion U.
S.
dollars, and the cumulative net sales in the first half of the year reached 8.
92 billion U.
S.
dollars.
The growth in the second quarter was mainly due to: ● Increased paint sales in North American stores; ● Continued progress in pricing initiatives in all market segments; ● Effective cost management, increased gross margins, and adjusted earnings per share increased by 15% year-on-year.
● The new customer plan launched in 2018 and the increase in sales prices were partially offset by weak demand in some end markets outside the United States and unfavorable currency conversion rate changes.
Chairman and CEO John G.
Morikis commented, “Shandwick achieved record results in all aspects in the second quarter, overcoming the imbalance in demand in end markets outside the United States.
Low raw material prices are forecast, and gross profit margins are expected to continue to improve in the second half of the year.
We expect that compared with the same period last year, the consolidated net sales in the third quarter will increase by a low-digit percentage.
The consolidated net sales for the full year of 2019 will be higher than that of 2018.
An annual increase of 2%-4%.
"On July 24, Akzo Nobel officially announced the financial report data for the second quarter of 2019.
Revenue in the second quarter reached 305 million euros ($339.
5 million), an increase of 87.
1% compared to 163 million euros in the first quarter.
The adjusted operating income and profit rose by 36%, and the sales return rate rose to 13.
7%.
Among them, the sales return rate of the decorative paint business increased to 13.
5% (12.
2% in the same period in 2018); the sales return rate of the high-performance coatings business increased to 13.
6% (11.
8% in the same period in 2018) .
The growth in the second quarter was mainly due to: ● Savings cost.
In the first quarter, the company achieved a cost saving of 38 million euros, and the cost savings in the second quarter increased to 43 million euros.
● Focus more on paints and coatings business: In the second quarter of 2019, Akzo Nobel’s decorative paint brand Dulux Valentine, launched a new product market competitive in France; in addition, Akzo Nobel’s high performance Architectural powder coatings and industrial coatings were adopted by the Hudson Yards project in New York, USA.
● Pay more attention to the market layout of the global coatings field.
Akzo Nobel announced on July 18 the acquisition of Mapaero, a French aerospace paint manufacturer.
Akzo Nobel CEO Thierry Vanlancker said: “The company has made gratifying progress in the second quarter.
In the face of weakening market trends, we will continue to focus on the implementation of established strategies, properly seize strategic growth opportunities, and strive to become A benchmark in the paint and coatings industry.
” Akzo Nobel will continue to implement the transformation plan, hoping to save one-time costs between 2019 and 2020, and achieve the goal of saving 200 million euros by 2020.
On July 24, Akzo Nobel officially announced the financial report data for the second quarter of 2019.
Revenue in the second quarter reached 305 million euros ($339.
5 million), an increase of 87.
1% compared to 163 million euros in the first quarter.
The adjusted operating income and profit rose by 36%, and the sales return rate rose to 13.
7%.
Among them, the sales return rate of the decorative paint business increased to 13.
5% (12.
2% in the same period in 2018); the sales return rate of the high-performance coatings business increased to 13.
6% (11.
8% in the same period in 2018) .
The growth in the second quarter was mainly due to: ● Savings cost.
In the first quarter, the company achieved a cost saving of 38 million euros, and the cost savings in the second quarter increased to 43 million euros.
● Focus more on paints and coatings business: In the second quarter of 2019, Akzo Nobel’s decorative paint brand Dulux Valentine, launched a new product market competitive in France; in addition, Akzo Nobel’s high performance Architectural powder coatings and industrial coatings were adopted by the Hudson Yards project in New York, USA.
● Pay more attention to the market layout of the global coatings field.
Akzo Nobel announced on July 18 the acquisition of Mapaero, a French aerospace paint manufacturer. On July 25, BASF released its financial report for the second quarter of 2019, with sales totaling 15.
2 billion euros.
Compared with the second quarter of last year, BASF's sales fell by 4%.
Excluding special items, EBIT was 1 billion euros, a decrease of 47% from the same period last year.
The main reasons for the fluctuations in the second quarter were: ●Equipment overhaul marketing ●Negative impact of North American weather ●Positive impact of exchange rate factors ●The acquisition of Bayer's seed and non-selective herbicide business, which brought a positive product portfolio effect of 2%.
Dr.
Boumulus, Chairman of the Executive Board of BASF Europe, said at the press conference: "The current situation is high uncertainty, low visibility and unpredictable.
The company's second quarter results clearly show this.
"
BASF's new strategy clearly defines a series of Measures to focus more on customer needs, improve efficiency, and establish a more efficient organizational structure.
A more streamlined structure and process is expected to save the company about 300 million euros per year.
● Planned layoffs: By the end of 2021, approximately 6,000 jobs will be reduced globally.
● Lower expectations: Significantly lower the growth expectations for global industrial production and global chemical production in 2019, both lowered from the previous forecast of 2.
7% to 1.
5%.
Akzo Nobel CEO Thierry Vanlancker said: “The company has made gratifying progress in the second quarter.
In the face of weakening market trends, we will continue to focus on the implementation of established strategies, properly seize strategic growth opportunities, and strive to become A benchmark in the paint and coatings industry.
” Akzo Nobel will continue to implement the transformation plan, hoping to save one-time costs between 2019 and 2020, and achieve the goal of saving 200 million euros by 2020.
Akzo Nobel has achieved remarkable results through cost-saving and pricing strategies.
PPG's net sales of automotive original equipment manufacturer (OEM) coatings experienced a high single-digit decline compared to the same period last year, which greatly restricted the growth rate in the second quarter.
Sherwin-Williams has made good progress in its pricing initiatives in various market segments, which puts it in a very advantageous position in all retail channels in North America.
Compared with the first quarter, Sherwin-Williams continued to hold the first throne.
In the first half of the year, BASF's coatings business fell to US$2.
1 billion, and automotive coatings fell sharply, which is inseparable from the obvious slowdown in global macroeconomic growth, and its business in the Chinese market will also slow down.
We will wait and see for the challenging macroeconomic environment.
