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Akzo Nobel: Caution Warranted Following A Disappointing Quarter

Aug. 03, 2021 9:11 AM ETAkzo Nobel N.V. (AKZOF), AKZOY2 Comments


  • Akzo Nobel missed consensus estimates across the top and bottom lines.
  • The magnitude of the raw materials cost inflation remains a concern going forward as well, likely driving downside risk to near term projections.
  • While M&A potential presents upside, I am cautious at the current valuation.

Akzo nobel headquarter
Poulssen/iStock Editorial via Getty Images

Following a quarterly miss and ongoing raw material inflation, Akzo Nobel (OTCQX:AKZOY), a leading global producer of paints and coatings, could struggle to deliver its targeted c. 50bps EBIT margin improvement/year. Similarly, its fiscal 2023 EBITDA target

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Analyst with a keen interest in the global markets, always sifting through company filings in search of compelling opportunities. Approach is heavily centered on the notion that one needs to be non-consensus right in making investment decisions. A keen follower of value investing legends such as Peter Cundill, Seth Klarman, and more recently, Rupal Bhansali.

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Comments (2)

Nice report! I was wondering, where did you get the EV information about the Grupo Orbis deal (source?)
Mid teens ROIC is pretty darn impressive. Axalta is the bargain at the moment. Buffett is in it too...
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