Pressured Pricing: Material costs plateauing, says AkzoNobel CEO

Amsterdam, Netherlands — In an interview with CNBC, AkzoNobel CEO Thierry Vanlancker said that raw material prices are plateauing, not decreasing.

“I think what we said back then is exactly what’s happening. We’ve reacted vividly in our pricing: 12.5 percent in the quarter, and 14 percent on the exit rate,” said Vanlancker.

This forecast follows the trend of rising and stagnating prices in light of supply chain issues and the computer chip shortage.

“We remain optimistic for the second half of 2022. It’s a slow turning point, we picture it as standing on a surfboard with a big wave.  We do look forward to the second quarter and the rest of the year to really enjoy the wave.“