Akzo’s management seems to have successfully obtained the qualification as feel-good manager. An additional €300m in cash will be spent to buy back shares. Was there an alternative? How about bolt-on acquisitions? 9M organic growth is still negative, despite some vital signs in Q3. Where the company is really going and where a sustainable growth momentum will come from remain unclear.
The reported figures were a notch weaker than expected. Street expectations were slightly beaten.
21 Oct 2020
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Akzo’s management seems to have successfully obtained the qualification as feel-good manager. An additional €300m in cash will be spent to buy back shares. Was there an alternative? How about bolt-on acquisitions? 9M organic growth is still negative, despite some vital signs in Q3. Where the company is really going and where a sustainable growth momentum will come from remain unclear.
The reported figures were a notch weaker than expected. Street expectations were slightly beaten.