Akzo Nobel N.V. (AKZA; AKZOY) publishes results for Q4 and full-year 2024
Highlights Q4 2024 (compared with Q4 2023)
- Organic sales up 1% on price/mix; revenue up 4%
- Adjusted EBITDA up 3% to €321 million (Adjusted EBITDA margin 12.3%)
- Operating income €127 million (2023: €214 million), impacted mainly by restructuring costs
- Net cash from operating activities €398 million (2023: €574 million)
Highlights full-year 2024 (compared with full-year 2023)
- Organic sales up 2% driven by higher volumes and increase in price/mix; revenue flat
- Adjusted EBITDA up 3% to €1,478 million (Adjusted EBITDA margin 13.8%)
- Operating income €917 million (2023: €1,029 million), impacted mainly by restructuring costs
- Net cash from operating activities €673 million (2023: €1,126 million)
- Final dividend proposed of €1.54 per share (2023: €1.54)
AkzoNobel CEO Greg Poux-Guillaume commented:
"2024 was a year where we grew organically while increasing our adjusted EBITDA, demonstrating our ability to grow in mixed market conditions. In Q4, we increased adjusted EBITDA by 3%, with costs at constant currencies now in line with the previous year. We continued to make progress while accelerating our self-help measures.
"Looking ahead, we don't expect a significant market rebound in 2025. The self- help measures we are taking will increasingly contribute to the bottom line. We aim to deliver 2025 adjusted EBITDA above €1.55 billion, while the company targets leverage below 2.5 times net debt/adjusted EBITDA (below 2.9 times net debt/EBITDA) by the end of 2025 and around 2 times in the mid-term, while remaining committed to retaining a strong investment grade credit rating.
"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."
Full press release:
https://www.akzonobel.com/en/media/latest-news---media-releases-/q4-2024
Highlights Q4 2024 (compared with Q4 2023)
- Organic sales up 1% on price/mix; revenue up 4%
- Adjusted EBITDA up 3% to €321 million (Adjusted EBITDA margin 12.3%)
- Operating income €127 million (2023: €214 million), impacted mainly by restructuring costs
- Net cash from operating activities €398 million (2023: €574 million)
Highlights full-year 2024 (compared with full-year 2023)
- Organic sales up 2% driven by higher volumes and increase in price/mix; revenue flat
- Adjusted EBITDA up 3% to €1,478 million (Adjusted EBITDA margin 13.8%)
- Operating income €917 million (2023: €1,029 million), impacted mainly by restructuring costs
- Net cash from operating activities €673 million (2023: €1,126 million)
- Final dividend proposed of €1.54 per share (2023: €1.54)
AkzoNobel CEO Greg Poux-Guillaume commented:
"2024 was a year where we grew organically while increasing our adjusted EBITDA, demonstrating our ability to grow in mixed market conditions. In Q4, we increased adjusted EBITDA by 3%, with costs at constant currencies now in line with the previous year. We continued to make progress while accelerating our self-help measures.
"Looking ahead, we don't expect a significant market rebound in 2025. The self- help measures we are taking will increasingly contribute to the bottom line. We aim to deliver 2025 adjusted EBITDA above €1.55 billion, while the company targets leverage below 2.5 times net debt/adjusted EBITDA (below 2.9 times net debt/EBITDA) by the end of 2025 and around 2 times in the mid-term, while remaining committed to retaining a strong investment grade credit rating.
"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."
Full press release:
https://www.akzonobel.com/en/media/latest-news---media-releases-/q4-2024
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