AkzoNobel has reported a 1% increase in organic sales and a 3% rise in adjusted EBITDA for the fourth quarter of 2024. The company also saw a 4% increase in revenue for the quarter.

For the full year, AkzoNobel’s organic sales grew by 2%, driven by higher volumes and an increase in price/mix. The company’s adjusted EBITDA for the year was up 3% to €1,478 million, with an adjusted EBITDA margin of 13.8%.

Despite the growth in organic sales and adjusted EBITDA, AkzoNobel’s operating income for both the fourth quarter and full year was impacted by restructuring costs. The company’s operating income for Q4 2024 was €127 million, down from €214 million in Q4 2023. For the full year, operating income was €917 million, compared to €1,029 million in 2023.

AkzoNobel’s CEO, Greg Poux-Guillaume, highlighted the company’s ability to grow in mixed market conditions and its focus on self-help measures.

“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,” said Poux-Guillaume.

Looking ahead, AkzoNobel does not expect a significant market rebound in 2025. The company is targeting an adjusted EBITDA of above €1.55 billion for the year.

The report for this quarter can be viewed and downloaded here: https://akzo.no/Q4-2024-results.