WASHINGTON (dpa-AFX) - Akzo Nobel NV (AKZOY.PK, AKZOY), a Dutch paint and coating maker, reported Wednesday a loss in its third quarter, compared to prior year's profit with weak revenues and volumes. Meanwhile, adjusted EBITDA margin improved driven by efficiency actions.
Looking ahead for fiscal 2025, the company expects to deliver adjusted EBITDA around 1.48 billion euros, subject to ongoing market uncertainties and adjusted for exchange rates as of the end of the third quarter.
For the mid-term, AkzoNobel aims to expand profitability to deliver an adjusted EBITDA margin of above 16 percent and a return on investment between 16 percent and 19 percent.
In the third quarter, the company's net loss attributable to shareholders was 194 million euros, compared to profit of 163 million euros a year ago.
Loss per share was 1.13 euros, compared to profit of 0.95 euros a year earlier.
Adjusted earnings per share from continuing operations were 1.01 euros, compared to 1.14 euros last year.
Adjusted EBITDA was 385 million euros, down 2 percent from 394 million euros a year ago. The impact from lower volumes were partly offset by structural cost measures and disciplined execution. Adjusted EBITDA margin improved to 15.1 percent from 14.8 percent last year.
Operating expenses were lower year-on-year, despite wage and general inflation.
Revenue fell 5 percent to 2.55 billion euros from 2.67 billion euros in the prior year on adverse currencies. Organic sales went up 1 percent, with an increase in price/mix partly offset by lower volumes.
The company further said its intended divestment of Akzo Nobel India Ltd. is on track. All regulatory approvals have been granted, and the deal is expected to be completed in December 2025.
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