Present in ten 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.Ĭreating a more sustainable yacht industry 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. Recent highlights Deal agreed to acquire Colombia-based Grupo Orbis 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.” “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. “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. *The 2019 comparatives are included in this release to allow for proper comparison in light of the COVID-19 impact in 2020.ĪkzoNobel CEO, Thierry Vanlancker, commented: Net income from total operations up 102% at €261 million (2020: €129 million) Net cash from operating activities at €168 million (2020: €308 million) Adjusted operating income up 41% at €335 million (2020: €238 million) excludes €49 million net positive impact from identified items, mainly related to Brazil ICMS and UK pension gains (2020: €31 million negative identified items related to transformation initiatives) Price/mix up 1%, while acquisitions added 2% Revenue up 26% and 29% higher in constant currencies, with volumes up 26%, mainly due to strong end market demand.
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