Amsterdam, The Netherlands — AkzoNobel unveiled its 2022 report on Wednesday, which details the company’s activities last year, including financial results and key business developments.
High energy costs and labour shortages continued to impact AkzoNobel’s vehicle refinish customers in 2022 while presenting the company with opportunities to support customers’ sustainability ambitions.
Nonetheless, director of automotive and speciality coatings Patrick Bourguignon said the segment achieved “good results in all regions.”
In the automotive and specialty coatings division, the company reported revenue of €1.39 billion, compared to €1.23 billion in 2021.
Activities in the Americas accounted for 33 percent—a third—of total segment revenue in 2022. Europe, the Middle East and Africa reported 43 percent of the segment revenue and Asia Pacific accounted for 24 percent.
Total revenue across all divisions in 2022 was reported at €10.846 billion.
“Given the rebound of both aerospace and automotive, there are many opportunities ahead of us,” said Bourguignon.