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Toronto, Ontario – AkzoNobel has reported its fourth-quarter and full-year 2024 financial results, with the coatings company reporting a four percent increase in overall revenue in Q4.
Fourth-quarter revenues were up three percent in the automotive and specialty coatings segment, though the company reported lower volumes due to weak demand for automotive and vehicle refinishes. An increase in price/mix offset this, said AkzoNobel in its report.
Full-year automotive and specialty coatings segment organic sales were up two percent, while revenues were up one percent. Organic sales growth was mainly driven by higher price/mix, reported AkzoNobel.
When looking at the coatings company’s full report, highlights for Q4 2024 when compared with the same period last year include:
- Operating income of £127 million, which was down from £214 million in 2023 with costs mainly impacted by restructuring costs
- Adjusted EBITDA up three percent to £321 million and an adjusted EBITDA margin of 12.3 percent
- Net cash from operating activities of £398 million, compared to £574 million in 2023
Based on current market conditions and constant currencies, AkzoNobel expects to deliver 2025 adjusted EBITDA above £1.55 billion (CAD$2.7 billion).
Additionally, for the mid-term, “AkzoNobel aims to expand profitability to deliver an adjusted EBITDA margin above 16 percent and a return on investment between 16 and 19 percent, as underpinned by organic growth.”
To see the full report, click here.