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Akzo Nobel NV AKZA Stock Quote

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Morningstar‘s Stock Analysis AKZA

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Another Profit Warning for AkzoNobel; Shares Still Materially Undervalued

Rob Hales, CFA Senior Analyst

Analyst Note

| Rob Hales, CFA |

Narrow-moat AkzoNobel announced third-quarter EBIT is expected to be EUR 195 million-EUR 215 million, implying a 15% drop over 2022 using the midpoint and a significant miss versus current Vara consensus of EUR 290 million. Despite the big consensus miss, shares are only down 1% intraday, which we think clearly indicates that true market consensus is much more bearish than current sell-side consensus. We have been consistently bearish versus sell-side consensus and management guidance. Nevertheless, 2022 is now looking worse than our previous conservative expectations. We have taken down our near-term estimates modestly, which only reduces our fair value estimate to EUR 100 from EUR 102. We continue to view the shares as materially undervalued.

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Key Statistics AKZA

Company Profile AKZA

Business Description

Netherlands-based AkzoNobel is one of the world’s largest paint and coatings producers. Around 35% of sales are generated in mature Europe, while its Asia-Pacific division has grown quickly to more than 30% of sales. Construction-related end markets are the most important, but meaningful revenue is also generated from the industrial, consumer goods, and transportation markets.

Christian Neefestraat 2
Amsterdam, NH, 1077 WW, Netherlands
T +31 889697809
Industry Specialty Chemicals
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2021
Employees 36,100