01.29.25
Akzo Nobel N.V. published results for Q4 and full-year 2024.
AkzoNobel’s revenue in Q4 2024 was €2,529 billion, up 4% from Q$ 2023. Operating in-come was €1,029 million, up from €917 million. Adjusted EBITDA was €1,429 million, rel-atively flat from Q4 2023.
AkzoNobel’s revenue in fiscal year 2024 was €10.67 billion, up 4% from Q$ 2023. Operat-ing income was €214 million, up from €127 million. Adjusted EBITDA was €313 million, flat from Q4 2023.
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 restructur-ing costs
• Net cash from operating activities €673 million (2023: €1,126 million)
• Final dividend proposed of €1.54 per share (2023: €1.54)
“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 adjust-ed 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,” said AkzoNobel CEO Greg Poux-Guillaume.
“Looking ahead, we don’t expect a significant market rebound in 2025,” Poux-Guillaume added. “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 tar-gets 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.”
Outlook
Based on current market conditions and constant currencies, AkzoNobel expects to deliver 2025 adjusted EBITDA above €1.55 billion.
For the mid-term, AkzoNobel aims to expand profitability to deliver an adjusted EBITDA margin of above 16% and a return on investment between 16% and 19%, underpinned by organic growth and industrial excellence.
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.
AkzoNobel’s revenue in Q4 2024 was €2,529 billion, up 4% from Q$ 2023. Operating in-come was €1,029 million, up from €917 million. Adjusted EBITDA was €1,429 million, rel-atively flat from Q4 2023.
AkzoNobel’s revenue in fiscal year 2024 was €10.67 billion, up 4% from Q$ 2023. Operat-ing income was €214 million, up from €127 million. Adjusted EBITDA was €313 million, flat from Q4 2023.
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 restructur-ing costs
• Net cash from operating activities €673 million (2023: €1,126 million)
• Final dividend proposed of €1.54 per share (2023: €1.54)
“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 adjust-ed 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,” said AkzoNobel CEO Greg Poux-Guillaume.
“Looking ahead, we don’t expect a significant market rebound in 2025,” Poux-Guillaume added. “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 tar-gets 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.”
Outlook
Based on current market conditions and constant currencies, AkzoNobel expects to deliver 2025 adjusted EBITDA above €1.55 billion.
For the mid-term, AkzoNobel aims to expand profitability to deliver an adjusted EBITDA margin of above 16% and a return on investment between 16% and 19%, underpinned by organic growth and industrial excellence.
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.
