(AGENPARL) – mar 23 luglio 2024 Akzo Nobel N.V.
Media release
July 23, 2024
AkzoNobel delivers growth for the third consecutive quarter
Akzo Nobel N.V. (AKZA; AKZOY) publishes results for Q2 2024
Highlights Q2 2024 (compared with Q2 2023)
• Organic sales up 2%, with volumes up 1%; Revenue up 2%
• Operating income €270 million (2023: €279 million)
• Adjusted EBITDA €400 million (2023: €397 million); Adjusted EBITDA margin 14.4% (2023: 14.5%)
• Net cash from operating activities positive €151 million (2023: positive €305 million)
Highlights half-year 2024 (compared with half-year 2023)
• Organic sales up 2%, driven by higher volumes and positive price/mix; revenue flat
• Operating income €531 million (2023: €461 million)
• Adjusted EBITDA €763 million (2023: €702 million); Adjusted EBITDA margin 14.1% (2023: 13.0%)
• Net cash from operating activities negative €19 million (2023: positive €255 million)
AkzoNobel CEO Greg Poux-Guillaume commented:
“For the third consecutive quarter, we demonstrated our ability to deliver growth in mixed markets,
while expanding gross margin* by 160 basis points. Although our operational costs are up, efforts to
mitigate this inflationary cost pressure are accelerating and measures are already underway, above
and beyond our industrial efficiency program. This will allow us to deliver on our 2024 ambitions,
towards the lower end of our guidance and in line with current consensus**.”
*Excluding the impact for hyperinflation accounting and identified items
**Consensus published on our website, dated July 11, 2024
AkzoNobel in € millions
Revenue
Operating income
Adjusted EBITDA
Adjusted EBITDA margin
Q2 2023
2,741
14.5%
Q2 2024
2,784
?% organic
14.4%
Outlook
Based on current market conditions and constant currencies, AkzoNobel expects to deliver 2024
adjusted EBITDA towards the lower end of its full-year guidance range of €1.5 to €1.65 billion.
Recent highlights
Pintuco brand helps town in Colombia to flourish
The Pintuco brand has rolled out our “Flourish” identity in Colombia and Ecuador. It marks the latest
stage in the integration of Grupo Orbis, which we acquired in 2022. Pintuco’s products have recently
been helping attract tourists to Usiacurí in Colombia. More than 18,000m² of the town’s rooftops have
been painted with a macro-mural featuring eye-catching images of birds. The facades of a large
number of homes have also been repainted. Over the course of the three-year project, visitor numbers
have soared from 400 a month to 24,000 a month.
Christian Neefestraat 2
1077 WW Amsterdam
P.O. Box 75730
1070 AS Amsterdam
Netherlands
http://www.akzonobel.com
AkzoNobel goes full throttle with new powder coating for two-wheelers
Motorcycle manufacturers can now kickstart improved cost and energy savings following the launch of
Interpon A3000 from AkzoNobel’s Powder Coatings business. The company’s first single layer powder
coating for two-wheelers, the newly introduced product can help customers accelerate their efficiency
gains, without compromising on performance or aesthetics. Interpon A3000 is focused in particular on
the key Indian market, home to well over 200 million two-wheeled vehicles. Last year alone, it’s
estimated that more than 18 million two-wheelers were sold in India. The product will also be available
globally.
About this media release
This media release covers the highlights for the quarter. We recommend reading the media release in combination with the full quarterly report.
The quarterly report provides additional information, including the IAS34 condensed consolidated financial statements. The interim condensed
consolidated financial statements were discussed and approved by the Board of Management and the Supervisory Board. These condensed
financial statements have been authorized for issue. All figures in this media release and in the AkzoNobel quarterly report are unaudited.
Forward looking statements are based on organic volumes and constant currencies, and assume no significant market disruptions. Please read
the Safe Harbor statement in the full quarterly report.
The report for the quarter can be viewed and downloaded here: https://akzo.no/Q2-2024-results
Organic Sales, Adjusted EBITDA and Adjusted EBITDA margin (%) are Alternative Performance Measures (APM’s). AkzoNobel uses APM
adjustments to the IFRS measures to provide supplementary information on the reporting of the underlying developments of the business. A
reconciliation of the alternative performance measures to the most directly comparable IFRS measures can be found in the AkzoNobel quarterly
report.
This is a public announcement by Akzo Nobel N.V. pursuant to section 17 paragraph 1 of the European Market Abuse
Regulation (596/2014).
About AkzoNobel
Since 1792, we’ve been supplying the innovative paints and coatings that help to color people’s lives and protect what matters most. Our world
class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more
than 150 countries and use our expertise to sustain and enhance everyday life. Because we believe every surface is an opportunity. It’s what
you’d expect from a pioneering and long-established paints company that’s dedicated to providing sustainable solutions and preserving the best of
what we have today – while creating an even better tomorrow. Let’s paint the future together.
Not for publication – for more information
AkzoNobel Media Relations
Contact: Joost Ruempol
AkzoNobel Investor Relations
Contact: Kenny Chae
Safe Harbor Statement
This media release contains statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions,
product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be
understood that many factors could cause forecast and actual results to differ from these statements. These factors include, but are not limited to,
price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal
issues, and legislative, fiscal, and other regulatory measures, as well as significant market disruptions such as the impact of pandemics. Stated
competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more
comprehensive discussion of the risk factors affecting our business, please see our latest annual report.
Link to the quarterly report: https://akzo.no/Q2-2024-results