AkzoNobel’s First Quarter Volumes Exceed Expectations
AkzoNobel CEO, Greg Poux-Guillaume, commented, “In the first quarter of 2023, our key markets proved to be resilient despite unfavorable macroeconomic conditions. We delivered higher volumes than expected with healthy pricing dynamics, leading to further margin expansion.
“We were able to achieve a strong sequential improvement in profitability based on solid margin management, better than anticipated volumes in Europe and rebound in China, benefiting both Paints and Coatings. We also announced our intention to acquire a small but complementary decorative paints business in China, which will further strengthen our number two retail position in this important and profitable market.”