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You are here: Home / News / AkzoNobel Reports Improved Margin in Second Quarter on Cost Savings Response to COVID-19 Pandemic

AkzoNobel Reports Improved Margin in Second Quarter on Cost Savings Response to COVID-19 Pandemic

July 22, 2020 By CollisionWeek Editor

Akzo Nobel N.V. (AMS: AKZA) announced its return on sales (ROS) increased to 14.0% in the second quarter of 2020, up from 13.7% in 2019, due to margin management and cost savings initiatives put in place due to the COVID-19 pandemic. The company reported total cost savings delivered €116 million ($134.3 million)  of which €38 million ($44 million) was structural savings related to its transformation initiatives.

The company reported €1,987 million ($2,300 million) in the second quarter, 19% lower than the same quarter the previous year and 17% lower in constant currencies, with positive price/mix of 2% but 18% lower

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Filed Under: News Tagged With: AkzoNobel, Earnings

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