AkzoNobel Reports Fifth Consecutive Quarter of Margin Growth
AkzoNobel reported improved profitability for the fifth consecutive quarter, with pricing supporting organic sales and earnings growth during the second quarter of 2026.
Organic sales increased 2% compared with the prior-year period, driven by pricing, while volumes remained stable. Reported revenue declined 1%. Operating income increased to €251 million from €214 million in the second quarter of 2025.
Organic adjusted EBITDA increased by €18 million, also driven by pricing. The adjusted EBITDA margin rose to 15.4% from 15% a year earlier.
“Robust pricing and a relentless focus on cost efficiency continue to support our performance,” said Greg Poux-Guillaume, CEO of AkzoNobel.
Net cash generated by operating activities totaled €170 million, compared with €234 million during the prior-year quarter.
For the first half of 2026, organic sales were flat and reported revenue declined 5%, reflecting adverse currency effects. Operating income increased to €428 million from €406 million, while the adjusted EBITDA margin improved to 14.9% from 14.3%.
AkzoNobel maintained its 2026 outlook. Based on current market visibility, geopolitical developments and prevailing trading conditions, the company expects a €100 million improvement in adjusted EBITDA at constant currencies. Full-year adjusted EBITDA is expected to reach at least €1.47 billion, based on year-end 2025 exchange rates and adjusted for the divestment of its liquid coatings businesses in India.
The outlook is presented on a standalone basis and excludes potential effects from the proposed Axalta merger. AkzoNobel said the shareholder vote remains scheduled for Aug. 5, with closing expected in late 2026 or early 2027, subject to shareholder and regulatory approvals.
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