Axalta Coating Systems Ltd. and Akzo Nobel N.V. are expected to merge in late 2026 or early 2027, according to a fourth-quarter 2025 earnings release.
Axalta's Feb. 10 release restated that the companies entered into a definitive agreement in November 2025 for a combination described as creating a premier global coatings company.
The release reports record full-year 2025 results, including net sales of US$5.12 billion, net income of US$384 million and adjusted EBITDA of US$1.13 billion. Fourth-quarter net sales total US$1.26 billion and adjusted EBITDA total US$272 million. Free cash flow for the year totals US$463 million.
Chris Villavarayan, chief executive officer and president of Axalta, states: "We delivered record earnings in 2025, demonstrating the resilience of our business and the successful execution of our 2026 A Plan in the midst of a challenging macro environment."
Villavarayan adds: "Looking ahead, we will continue to leverage the strong foundation we've established to drive further improvement in our financial performance. Axalta's balance sheet is strong, and we believe our proven portfolio and ability to navigate any operating environment will enable us to deliver meaningful value to shareholders as we prepare for our next chapter with AkzoNobel."
In its own fourth-quarter 2025 release, AkzoNobel listed the proposed merger with Axalta as a corporate highlight and reported its full-year performance. Greg Poux-Guillaume, chief executive officer of AkzoNobel, stated: "We delivered on our commitments for 2025, with improved profitability and strong cash generation despite continued macroeconomic volatility."
