Toronto, Ontario – AkzoNobel published its Digital 2024 report, highlighting the company’s efforts toward profitability, technology and sustainability in continued mixed market conditions.
The online annual report offers coverage of AkzoNobel’s financial results and key business developments during 2024. The report focuses on strategy and operations, sustainability, leadership and governance and financial performance.
AkzoNobel notes that automotive and specialty coatings delivered €1,434 million (CAD$2,156.54) in revenue in 2024, a growth of one percent from 2023.
The business delivered resilient performance throughout the year, with the second half of 2024 marking a noteable slowdown in the automotive sector, notes AkzoNobel.
Additionally, AkzoNobel further notes that the demand for ambient and ultraviolet curing coatings within the automotive and specialty coatings business saw a rising demand.
“A 2024 example,” says the study, “was coatingAI, a software co-developed by our powder coatings business. The solution uses artificial intelligence to help customers improve the application process and reduce their carbon footprint.”
“We faced a complex operating environment, with continued inflationary pressure, adverse currency impacts and unstable markets,” he says. “Although these headwinds spurred competitive intensity and tested our resilience, they also strengthened our determination to control our own destiny by stepping up self-help measures that ultimately boosted our performance,” concludes CEO Greg Poux-Guillaume.
Looking ahead to 2025, Poux-Guillaume added that “we’re making AkzoNobel stronger, more dynamic and more competitive. This will serve us well when our end markets start growing again, putting us on track to deliver on our mid-term ambitions. Our direction is clear and our strengths are real.”
To see the full report, click here.
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