AkzoNobel provides update on Winning together: 15 by 20 and outlines plans for 2020 and beyond

AkzoNobel hosted an investor event in London, broadcast live by video webcast, to provide an update on the company’s Winning together: 15 by 20 strategy.

The agenda also included plans for 2020 and beyond.

Ambitions for 2021-2023 include:

• Revenue growth ≥ market CAGR (compound annual growth rate)
• Return on sales (ROS) +50 basis points CAGR

ROS is adjusted operating income as percentage of revenue (including unallocated cost).

AkzoNobel CEO, Thierry Vanlancker, commented: "Since 2017, we’ve kept a laser-sharp focus on our Winning together: 15 by 20 strategy and on the promises set at the time.

"The progress we’ve made has been reflected in AkzoNobel’s total shareholder return of 82% during the same time period.

"We’ve reignited our passion for paint and our transformation is on track.

"We’re now well on our way and gaining momentum, with the ambition to deliver ROS, excluding unallocated costs, of 14.5-15.5% for 2020.

"This relies on a significant amount of self-help and we expect no support from our end markets. It’s all within our own hands.

"Beyond 2020, we will balance growth and profitability improvement.

"Our ambitions for 2021-2023 are to grow at least in line with our relevant markets and deliver further profitability improvement.

"Ultimately, our goal is to take our rightful place among the frontrunners in paints and coatings, when it comes to both size and performance.”