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01.03.2024

AkzoNobel: New manufacturing plant in Pakistan

A new €26 million manufacturing plant with its own forest has been opened by AkzoNobel in Faisalabad – the company’s largest investment in Pakistan to date.

The 25-acre site, which has facilities for making decorative paint, wood finishes, automotive and specialty coatings, coil coatings and protective coatings, will help to meet increasing customer demand across a variety of markets.

Also incorporated into the Faisalabad location is a forest spanning an area of 5,450 square feet. More than 1,400 native trees and shrubs – planted using the Japanese Miyawaki gardening technique – are expected to grow into a flourishing self-sustaining ecosystem over the next two years.

The site, which employs nearly 200 people, has been constructed to comply with the company’s strict environmental standards and includes a series of sustainability features, such as renewable energy generation and energy efficient design.

A new €26 million manufacturing plant with its own forest has been opened by AkzoNobel in Faisalabad – the company’s largest investment in Pakistan to date.

The 25-acre site, which has facilities for making decorative paint, wood finishes, automotive and specialty coatings, coil coatings and protective coatings, will help to meet increasing customer demand across a variety of markets.

Also incorporated into the Faisalabad location is a forest spanning an area of 5,450 square feet. More than 1,400 native trees and shrubs – planted using the Japanese Miyawaki gardening technique – are expected to grow into a flourishing self-sustaining ecosystem over the next two years.

The site, which employs nearly 200 people, has been constructed to comply with the company’s strict environmental standards and includes a series of sustainability features, such as renewable energy generation and energy efficient design.

Source:

AkzoNobel

26.02.2024

AkzoNobel: Full-year 2023 results

Highlights Q4 2023 (compared with Q4 2022)

  • Revenue in constant currencies up 4% on higher volumes and pricing (reported revenue -3%)
  • Operating income improved to €214 million (2022: €103 million)
  • Adjusted operating income at €221 million (2022: €126 million); ROS at 8.7% (2022: 4.8%); €244 million before €23 million negative impact from hyperinflation accounting
  • Net cash from operating activities positive €574 million (2022: €291 million)

Highlights full-year 2023 (compared with full-year 2022)

Highlights Q4 2023 (compared with Q4 2022)

  • Revenue in constant currencies up 4% on higher volumes and pricing (reported revenue -3%)
  • Operating income improved to €214 million (2022: €103 million)
  • Adjusted operating income at €221 million (2022: €126 million); ROS at 8.7% (2022: 4.8%); €244 million before €23 million negative impact from hyperinflation accounting
  • Net cash from operating activities positive €574 million (2022: €291 million)

Highlights full-year 2023 (compared with full-year 2022)

  • Revenue in constant currencies up 5% driven by pricing (reported revenue -2%)
  • Operating income improved to €1,029 million (2022: €708 million)
  • Adjusted operating income at €1,074 million (2022: €789 million), despite €77 million adverse
  • currency effects from translation; ROS at 10.1% (2022: 7.3%)
  • Adjusted EBITDA at €1,429 million (2022: €1,157 million), despite €92 million adverse currency
  • effects from translation
  • Net cash from operating activities positive €1,126 million (2022: €263 million)
  • Net debt to EBITDA leverage ratio improved to 2.7 (2022: 3.8)
  • Final dividend proposed of €1.54 per share (2022: €1.54)

Outlook mid-term
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 aims to lower its leverage to around 2 times in the mid-term, while remaining committed to retaining a strong investment grade credit rating.

More information:
AkzoNobel financial year 2023
Source:

AkzoNobel

AkzoNobel participates in research program with SusInkCoat project (c) The Dutch Research Council (NWO)
05.02.2024

AkzoNobel participates in research program with SusInkCoat project

More than 82 companies, businesses and social organizations – including AkzoNobel – are involved in a major Dutch research program focused on developing new technologies that will help solve some of today’s societal challenges.
 
Seven broad consortia have been established as part of the government-funded “Perspectief” program, with AkzoNobel set to play a leading role in the SusInkCoat project, which will explore how to make inks and coatings more sustainable.

The company will work together with private partners and other societal stakeholders to develop new materials, processes and applications to improve the durability, functionality and recyclability of coatings, thin films and inks. The program, which will run for the next five years, is backed by the Ministry of Economic Affairs and Climate Policy and the Dutch Research Council (NWO).

More than 82 companies, businesses and social organizations – including AkzoNobel – are involved in a major Dutch research program focused on developing new technologies that will help solve some of today’s societal challenges.
 
Seven broad consortia have been established as part of the government-funded “Perspectief” program, with AkzoNobel set to play a leading role in the SusInkCoat project, which will explore how to make inks and coatings more sustainable.

The company will work together with private partners and other societal stakeholders to develop new materials, processes and applications to improve the durability, functionality and recyclability of coatings, thin films and inks. The program, which will run for the next five years, is backed by the Ministry of Economic Affairs and Climate Policy and the Dutch Research Council (NWO).

“Our discussions about collaborating with our SusInkCoat partners have been very positive,” says AkzoNobel’s R&D Director of Scientific Academic Programs, André van Linden, who is also the co-lead of SusInkCoat. “We’re all facing the same societal challenges – how to become more circular – and we’re looking for the same solutions in different application areas. But we’ve never done that together for this specific research topic, so we need an ecosystem to help us solve these challenges.
 
Van Linden adds that the program – one of many R&D projects the company is involved with – will also support AkzoNobel’s ambition to achieve 50% less carbon emissions in its own operations – and across the value chain – by 2030.
 
 “We want to make the recyclability of materials - such as furniture, building materials and steel constructions - easier by introducing functionalities like self-healing, higher durability and triggered release,” he continues. “The more you can leave the materials in their original state, the more sustainably you can operate.”

AkzoNobel will be collaborating with Canon, Evonik, GFB, PTG and RUG Ventures, who together possess extensive knowledge of market demands, supply chains and production processes. All the SusInkCoat partners will also work with academic researchers at several Dutch universities in an effort to identify promising developments that can be commercialized, used for education purposes or for outreach to the public.

Research being conducted by the other six consortia includes investigating methods to make tastier plant-based food; flat optics for more sustainable hi-tech equipment; and cheaper and more accessible medical imaging technology.

More information:
AkzoNobel Coatings Sustainability
Source:

AkzoNobel

06.11.2023

AkzoNobel publishes results for Q3 2023

Highlights Q3 2023 (compared with Q3 2022)

  • Revenue in constant currencies up 5% on pricing, despite flat volumes; reported revenue 4% down on unfavorable exchange rates
  • Operating income improved to €354 million (2022: €168 million)
  • Adjusted operating income at €324 million (2022: €184 million); ROS 11.8% (2022: 6.4%)
  • Net cash from operating activities positive €297 million (2022: €126 million)
  • Net debt to EBITDA leverage ratio improved sequentially to 3.2x

2023 Outlook
AkzoNobel expects the ongoing macro-economic uncertainties to continue and weigh on organic volume growth. The company will focus on margin management, cost reduction, working capital normalization and de-leveraging.

Cost reduction programs are expected to partly mitigate higher than expected inflationary pressure on operating expenses for 2023. AkzoNobel expects declining raw material costs to have a favorable impact on profitability.

Based on current market conditions, AkzoNobel targets to deliver around €1.45 billion adjusted EBITDA.

Highlights Q3 2023 (compared with Q3 2022)

  • Revenue in constant currencies up 5% on pricing, despite flat volumes; reported revenue 4% down on unfavorable exchange rates
  • Operating income improved to €354 million (2022: €168 million)
  • Adjusted operating income at €324 million (2022: €184 million); ROS 11.8% (2022: 6.4%)
  • Net cash from operating activities positive €297 million (2022: €126 million)
  • Net debt to EBITDA leverage ratio improved sequentially to 3.2x

2023 Outlook
AkzoNobel expects the ongoing macro-economic uncertainties to continue and weigh on organic volume growth. The company will focus on margin management, cost reduction, working capital normalization and de-leveraging.

Cost reduction programs are expected to partly mitigate higher than expected inflationary pressure on operating expenses for 2023. AkzoNobel expects declining raw material costs to have a favorable impact on profitability.

Based on current market conditions, AkzoNobel targets to deliver around €1.45 billion adjusted EBITDA.

Leverage guidance remains unchanged at less than 3 times net debt/EBITDA by the end of 2023, excluding the Kansai Paint Africa acquisition which is not expected to close before year end.

More information:
AkzoNobel financial year 2023
Source:

AkzoNobel

26.07.2023

AkzoNobel publishes results for Q2 2023

Highlights Q2 2023 (compared with Q2 2022)

Highlights Q2 2023 (compared with Q2 2022)

  • Revenue 4% down on unfavorable exchange rates, 3% up in constant currencies1
  • Pricing up 5%, volumes 1% lower
  • Operating income up 36% at €279 million (2022: €205 million)
  • Adjusted operating income2 up 25% at €311 million; ROS3 11.3% (2022: €249 million and 8.7%)
  • Net cash from operating activities positive €305 million (2022: negative €52 million)

2023 Outlook
AkzoNobel expects the ongoing macro-economic uncertainties to continue and weigh on organic volume growth. The company will focus on margin management, cost reduction, working capital normalization and de-leveraging.
Cost reduction programs are expected to partly mitigate higher than expected inflationary pressure on operating expenses for 2023. AkzoNobel expects declining raw material costs to have a favorable impact on profitability.
Based on current market conditions, AkzoNobel targets to deliver €1.40 to €1.55 billion adjusted EBITDA.
The company aims to lower its leverage ratio to less than 3.4 times net debt/EBITDA, including the impact of the Kansai Paint Africa acquisition, by the end of 2023 and return to around 2 times post-2023.

More information:
AkzoNobel financial year 2023
Source:

AkzoNobel

28.04.2023

AkzoNobel publishes results for Q1 2023

Highlights Q1 2023 (compared with Q1 2022)

Highlights Q1 2023 (compared with Q1 2022)

  • Revenue up 5% and up 8% in constant currencies1
  • Pricing up 7%, more than offsetting increase of raw material and freight costs
  • Volumes 3% lower; Europe showing resilience, China rebounding
  • Operating income at €182 million (2022: €232 million); adjusted operating income2 at €218 million (2022: €230 million); ROS3 at 8.2% (2022: 9.1%)
  • Net cash from operating activities negative €50 million (2022: negative €102 million)
  • Intended acquisition of Chinese Decorative Paints business from Sherwin-Williams announced in April 2023; completion expected in the second half of 2023

2023 Outlook
AkzoNobel expects the ongoing macro-economic uncertainties to continue and weigh on organic volume growth. The company will focus on margin management, cost reduction, working capital normalization and de-leveraging.
Cost reduction programs are expected to mitigate the ongoing pressure from inflation in operating expenses for 2023. AkzoNobel expects declining raw material costs to have a favorable impact on profitability.
Based on current market conditions, AkzoNobel targets to deliver €1.2 to €1.5 billion adjusted EBITDA.
The company aims to lower its leverage ratio to less than 3.4 times net debt/EBITDA, including the impact of the Kansai Paint Africa acquisition, by the end of 2023 and return to around 2 times post-2023.

Source:

Akzo Nobel N.V.

(c) AkzoNobel
01.03.2023

AkzoNobel publishes 2022 annual report

AkzoNobel has published its digital Report 2022, which gives details of the company’s ongoing transformation during a challenging year of persistent worldwide uncertainty.

The Report 2022 website includes coverage of AkzoNobel’s financial results and key business developments, while the company’s progress on its sustainability ambitions is highlighted throughout.

The online report offers a wide range of interactive content and infographics. Visitors can also make use of various tools to compare key data and download tables.

Meanwhile, the Sustainability statements – traditionally one of the most visited sections – has been revamped and is themed around the key areas of climate change, circularity, and health and well-being. Several case studies also feature prominently.

AkzoNobel has published its digital Report 2022, which gives details of the company’s ongoing transformation during a challenging year of persistent worldwide uncertainty.

The Report 2022 website includes coverage of AkzoNobel’s financial results and key business developments, while the company’s progress on its sustainability ambitions is highlighted throughout.

The online report offers a wide range of interactive content and infographics. Visitors can also make use of various tools to compare key data and download tables.

Meanwhile, the Sustainability statements – traditionally one of the most visited sections – has been revamped and is themed around the key areas of climate change, circularity, and health and well-being. Several case studies also feature prominently.

More information:
AkzoNobel Annual Report digital
Source:

AkzoNobel

(c) AkzoNobel
20.01.2023

AkzoNobel again a European Top Employer

AkzoNobel has been rated as a European Top Employer by the Top Employers Institute for the second consecutive year.

In the latest benchmark review, the company has been recognized in eight countries – Brazil, China, France, Germany, the Netherlands, Sweden, the UK and the US – all of them repeat certifications. AkzoNobel qualifies as a European Top Employer because five of the certified countries are in Europe.

Each year, the Top Employers Institute certifies organizations who are focused on putting people first through their HR policies. The survey covers six HR domains consisting of 20 topics, including people strategy, work environment, talent acquisition, learning, diversity and inclusion, and well-being.

The latest 2023 rating marks the second certification in a row for AkzoNobel in France, Germany and Sweden, the fourth for the Netherlands and the US, the seventh for Brazil, the tenth for China and the 11th for the UK.

AkzoNobel has been rated as a European Top Employer by the Top Employers Institute for the second consecutive year.

In the latest benchmark review, the company has been recognized in eight countries – Brazil, China, France, Germany, the Netherlands, Sweden, the UK and the US – all of them repeat certifications. AkzoNobel qualifies as a European Top Employer because five of the certified countries are in Europe.

Each year, the Top Employers Institute certifies organizations who are focused on putting people first through their HR policies. The survey covers six HR domains consisting of 20 topics, including people strategy, work environment, talent acquisition, learning, diversity and inclusion, and well-being.

The latest 2023 rating marks the second certification in a row for AkzoNobel in France, Germany and Sweden, the fourth for the Netherlands and the US, the seventh for Brazil, the tenth for China and the 11th for the UK.

Source:

AkzoNobel

Photo: AkzoNobel
Ben Noteboom
20.12.2022

Ben Noteboom to be nominated as AkzoNobel Supervisory Board member

AkzoNobel has announced that Ben Noteboom will be nominated as a member of the Supervisory Board at the Annual General Meeting being held in April 2023. The Supervisory Board intends to subsequently elect him as Chair, succeeding Nils Andersen, who will retire as Chair and member of the Supervisory Board at the same time.

Noteboom is Chairman of Vopak’s Supervisory Board and a member of the Supervisory Board of Aegon. He also chairs the Board of Trustees of the Cancer Center Amsterdam. His former roles include CEO and Chairman of the Board of Management at Randstad, while he held different management positions at Dow Chemicals for nearly nine years.

Commenting on the announcement, Byron Grote, says: “The Supervisory Board is very pleased to announce the nomination of Ben Noteboom. His strong track record in executive and non-executive roles, and his broad experience in different industries – including the chemical industry – will be valuable additions to AkzoNobel.”

AkzoNobel has announced that Ben Noteboom will be nominated as a member of the Supervisory Board at the Annual General Meeting being held in April 2023. The Supervisory Board intends to subsequently elect him as Chair, succeeding Nils Andersen, who will retire as Chair and member of the Supervisory Board at the same time.

Noteboom is Chairman of Vopak’s Supervisory Board and a member of the Supervisory Board of Aegon. He also chairs the Board of Trustees of the Cancer Center Amsterdam. His former roles include CEO and Chairman of the Board of Management at Randstad, while he held different management positions at Dow Chemicals for nearly nine years.

Commenting on the announcement, Byron Grote, says: “The Supervisory Board is very pleased to announce the nomination of Ben Noteboom. His strong track record in executive and non-executive roles, and his broad experience in different industries – including the chemical industry – will be valuable additions to AkzoNobel.”

Adds Ben Noteboom: “I’m excited about the opportunity to join AkzoNobel’s Supervisory Board and look forward to contributing to the next phase of the company’s transformation as it makes further progress to becoming a frontrunner in the industry.”

Source:

AkzoNobel

20.10.2022

Akzo Nobel N.V. publishes results for Q3 2022

Highlights Grow & Deliver (compared with Q3 2021)

  • Revenue up 19% and 14% higher in constant currencies1, pricing up 13%
  • ROS2 at 6.4% (2021: 10.0%), resulting from lower volumes and higher raw material and freight costs, as well as inflation on operating expenses
  • Adjusted EBITDA at €283 million (2021: €325 million)
  • Q4 2022 adjusted operating income expected below €150 million

Highlights Q3 2022 (compared with Q3 2021)

Highlights Grow & Deliver (compared with Q3 2021)

  • Revenue up 19% and 14% higher in constant currencies1, pricing up 13%
  • ROS2 at 6.4% (2021: 10.0%), resulting from lower volumes and higher raw material and freight costs, as well as inflation on operating expenses
  • Adjusted EBITDA at €283 million (2021: €325 million)
  • Q4 2022 adjusted operating income expected below €150 million

Highlights Q3 2022 (compared with Q3 2021)

  • Pricing up 13%, offsetting the increase of raw material and other variable costs. Volumes 5% lower, mainly due to destocking in the distribution channels in Decorative Paints in Europe and in Performance Coatings, as well as lower market demand in China
  • Operating income at €168 million (2021: €226 million), includes €16 million negative impact from Identified items (2021: €15 million net negative impact) and €17 million negative from the retrospective hyperinflation impact of the first half-year of 2022. OPI margin 5.9% (2021: 9.4%)
  • Adjusted operating income3 at €184 million (2021: €241 million); excluding the retrospective impact of hyperinflation accounting at €201 million
  • Net cash from operating activities decreased to an inflow of €126 million (2021: inflow of €290 million)
  • Net income attributable to shareholders at €84 million (2021: €164 million)
  • EPS from total operations at €0.48 (2021: €0.89); adjusted EPS from continuing operations at €0.57 (2021: €0.93)
  • Interim dividend of €0.44 per share (2021: €0.44 per share)

AkzoNobel CEO, Thierry Vanlancker, commented: “Our €201 million adjusted operating income excluding the retrospective impact of hyperinflation accounting bring our Q3 results in line with the market update issued at the end of September. Sharply increased macro-economic uncertainties negatively impacted consumer confidence. This resulted in destocking across several distribution channels in decorative paints Europe and performance coatings, while the market in China was impacted by the ongoing zero COVID-19 policy. Thanks to the strong commitment of our teams, we continue to offset the impact of raw material and freight cost inflation with pricing. We’ve now delivered cumulative pricing of 22% over the last two years. The macro-economic turbulence is expected to continue well into next year. We’ve therefore decided to suspend our targets for 2023 and will provide further guidance when announcing our full-year 2022 results. In the meantime, we will continue to focus on our margin management and cost reduction initiatives.”

Source:

AkzoNobel

07.10.2022

AkzoNobel: Q3 update following high macro-economic uncertainty

AkzoNobel provides a Q3 update as high macro-economic uncertainty - especially in Europe and China - led to near historical low consumer confidence. In anticipation, customers and channel partners in the paints and coatings industry are proactively destocking in these regions.
 
The Q3 adjusted operating income is now expected to be in the range of €195 million to €215 million (2021: €241 million), excluding a retroactive impact from hyperinflation accounting regarding Türkiye.
 
Current demand trends are expected to continue in Q4, whilst benefits will come from the company’s own initiatives to reduce costs, improve working capital and ongoing pricing initiatives. While Q3 will see the highest raw material cost impact since the inflation cycle started early 2021, pricing will continue to offset raw material and freight inflation. Overall raw material supply is normalizing and raw material prices are starting to soften broadly.
 
Financial results for Q3 of 2022 will be announced on October 20.

AkzoNobel provides a Q3 update as high macro-economic uncertainty - especially in Europe and China - led to near historical low consumer confidence. In anticipation, customers and channel partners in the paints and coatings industry are proactively destocking in these regions.
 
The Q3 adjusted operating income is now expected to be in the range of €195 million to €215 million (2021: €241 million), excluding a retroactive impact from hyperinflation accounting regarding Türkiye.
 
Current demand trends are expected to continue in Q4, whilst benefits will come from the company’s own initiatives to reduce costs, improve working capital and ongoing pricing initiatives. While Q3 will see the highest raw material cost impact since the inflation cycle started early 2021, pricing will continue to offset raw material and freight inflation. Overall raw material supply is normalizing and raw material prices are starting to soften broadly.
 
Financial results for Q3 of 2022 will be announced on October 20.

Source:

AkzoNobel

(c) AkzoNobel
26.09.2022

AkzoNobel’s Paint the Future India challenge awards two startups

Two startups in India have won Paint the Future awards and the chance to continue working together with AkzoNobel to accelerate their solutions.

The winning submissions answered the company’s call for innovative ways to enhance the digital consumer experience for Dulux paints in India. The winners are:

  • HyperReality Technologies - Collaborative platform for inspiration and visualization of a space in the metaverse
  • Fluid AI - Multi-channel, conversational, immersive and interactive AI platform to guide consumers during their painting journey

Having already signed letters of intent to work together on sustainable business opportunities, the two winners now join AkzoNobel’s accelerator program.

The India startup challenge is the third regional edition of Paint the Future. Run in partnership with NASSCOM Industry Partnership Program (NIPP), the challenge attracted 207 submissions from 33 cities across India.

Two startups in India have won Paint the Future awards and the chance to continue working together with AkzoNobel to accelerate their solutions.

The winning submissions answered the company’s call for innovative ways to enhance the digital consumer experience for Dulux paints in India. The winners are:

  • HyperReality Technologies - Collaborative platform for inspiration and visualization of a space in the metaverse
  • Fluid AI - Multi-channel, conversational, immersive and interactive AI platform to guide consumers during their painting journey

Having already signed letters of intent to work together on sustainable business opportunities, the two winners now join AkzoNobel’s accelerator program.

The India startup challenge is the third regional edition of Paint the Future. Run in partnership with NASSCOM Industry Partnership Program (NIPP), the challenge attracted 207 submissions from 33 cities across India.

Nine finalists were invited to an intense two-day bootcamp program, where customized sessions with AkzoNobel experts helped them further refine their solution’s value proposition before the final pitch to the Paint the Future jury.

Source:

AkzoNobel

20.07.2022

AkzoNobel publishes results for second quarter 2022

Akzo Nobel N.V.  publishes results for second quarter 2022

Highlights Grow & Deliver (compared with Q2 2021)

  • Revenue up 14% and 10% higher in constant currencies1, pricing up 16%
  • ROS2 at 8.7% (2021: 13.3%), resulting from lower volumes and continued raw material and freight costs inflation
  • Adjusted EBITDA at €337 million (2021: €419 million)
  • Acquisition of Grupo Orbis completed in April 2022. Intended acquisition of Kansai Paint’s business in Africa announced in June 2022. Intended acquisition of the liquid wheel coatings business of Germany-based Lankwitzer Lackfabrik GmbH announced in July 2022

Highlights Q2 2022 (compared with Q2 2021)

Akzo Nobel N.V.  publishes results for second quarter 2022

Highlights Grow & Deliver (compared with Q2 2021)

  • Revenue up 14% and 10% higher in constant currencies1, pricing up 16%
  • ROS2 at 8.7% (2021: 13.3%), resulting from lower volumes and continued raw material and freight costs inflation
  • Adjusted EBITDA at €337 million (2021: €419 million)
  • Acquisition of Grupo Orbis completed in April 2022. Intended acquisition of Kansai Paint’s business in Africa announced in June 2022. Intended acquisition of the liquid wheel coatings business of Germany-based Lankwitzer Lackfabrik GmbH announced in July 2022

Highlights Q2 2022 (compared with Q2 2021)

  • Pricing up 16%; offsetting the increase of raw material and other variable costs. Volumes 9% lower
  • Operating income at €205 million (2021: €384 million), includes €44 million negative impact from Identified items (2021: €49 million net positive impact). OPI margin 7.2% (2021: 15.3%)
  • Adjusted operating income3 at €249 million (2021: €335 million)
  • Net cash from operating activities decreased to negative €52 million (2021: positive €168 million)
  • Net income attributable to shareholders at €106 million (2021: €261 million)
  • EPS from total operations at €0.60 (2021: €1.40); adjusted EPS from continuing operations at €0.84 (2021: €1.20)
More information:
AkzoNobel Coatings
Source:

AkzoNobel

(c) AkzoNobel
12.07.2022

AkzoNobel announces €20 million investment and creates new jobs in France

A €20 million investment has been announced by AkzoNobel to increase and improve production at two of its sites in France. Around 30 new jobs will be created.

A total of €15 million will be spent on the company’s aerospace coatings facility in Pamiers, which was taken over following the Mapaero acquisition in 2019. Production capacity is being boosted by 50%, while the funds will also be used to reduce environmental impact and improve safety processes and working conditions.

The other €5 million will be spent on improving production flexibility at the decorative paints site in Montataire, which is one of the company’s most important manufacturing locations for wall paints in Europe.

The plans for Pamiers include the construction of two extensions, one for storage and one for cleaning and waste treatment. The project will also enable the company to relocate the production of exterior polyurethane paints for aircraft widely used in Europe from its Waukegan plant in the US.

Building work is expected to start by the end of 2023, with the new installations at both locations due to be operational in early 2025.

A €20 million investment has been announced by AkzoNobel to increase and improve production at two of its sites in France. Around 30 new jobs will be created.

A total of €15 million will be spent on the company’s aerospace coatings facility in Pamiers, which was taken over following the Mapaero acquisition in 2019. Production capacity is being boosted by 50%, while the funds will also be used to reduce environmental impact and improve safety processes and working conditions.

The other €5 million will be spent on improving production flexibility at the decorative paints site in Montataire, which is one of the company’s most important manufacturing locations for wall paints in Europe.

The plans for Pamiers include the construction of two extensions, one for storage and one for cleaning and waste treatment. The project will also enable the company to relocate the production of exterior polyurethane paints for aircraft widely used in Europe from its Waukegan plant in the US.

Building work is expected to start by the end of 2023, with the new installations at both locations due to be operational in early 2025.

AkzoNobel employs nearly 1,500 people in France and operates four production facilities, in Montataire (decorative paints), Dourdan (powder coatings), Limoges (adhesive markings) and Pamiers (aerospace coatings).

More information:
AkzoNobel Coatings aerospace
Source:

AkzoNobel

14.06.2022

AkzoNobel updates Q2 outlook based on impact of China lockdowns

AkzoNobel has updated its Q2 outlook based on the impact of the evolving business environment, including the effect of China lockdowns and the slower start to the EMEA DIY season.

Overall demand signs for paints and coatings remain robust, with North America still constrained in raw material availability and logistics, but sequentially improving. In Europe in particular, macro-economic uncertainty related to consumer confidence has increased.

Consumer demand in the Deco DIY channels in Europe – which represent 40% of total Deco EMEA revenue – got off to a slow start in Q2, subsequently impacted by inventory reductions in the DIY channel. In June, Deco DIY channel demand improved back to 2019 levels. Despite share gains and our Deco Professional business performing as anticipated, the total Q2 operating income for our Decorative Paints segment is expected to be down by approximately €50 million versus expectations entering the second quarter.

AkzoNobel has updated its Q2 outlook based on the impact of the evolving business environment, including the effect of China lockdowns and the slower start to the EMEA DIY season.

Overall demand signs for paints and coatings remain robust, with North America still constrained in raw material availability and logistics, but sequentially improving. In Europe in particular, macro-economic uncertainty related to consumer confidence has increased.

Consumer demand in the Deco DIY channels in Europe – which represent 40% of total Deco EMEA revenue – got off to a slow start in Q2, subsequently impacted by inventory reductions in the DIY channel. In June, Deco DIY channel demand improved back to 2019 levels. Despite share gains and our Deco Professional business performing as anticipated, the total Q2 operating income for our Decorative Paints segment is expected to be down by approximately €50 million versus expectations entering the second quarter.

COVID-19 lockdowns in China during Q2 impact both paints and coatings. This impact was mainly on our coatings business, while paints was able to almost offset by progressing with its geographical expansion initiatives. The re-opening in June is showing a positive rebound, but not enough to catch up on all the missed revenue in the quarter, resulting in a negative operating income impact of approximately €40 million for the quarter, versus expectations entering Q2.

AkzoNobel continues to focus on achieving its €2 billion adjusted EBITDA target for 2023, despite the volatile market environment having a material impact on the company’s Q2 2022 financials.

More information:
AkzoNobel Coatings Covid-19
Source:

AkzoNobel

13.06.2022

AkzoNobel launches mosquito-repellent coating

People in Brazil have a new ally in the fight against an invasive carrier of dengue fever – a mosquito-repellent coating developed by AkzoNobel’s Coral brand.
 
Known as Well-being Protection Anti-Mosquito, the colorless matt varnish contains an active ingredient called permethrin. Its repellent action is specifically designed to combat the Aedes aegypti mosquito, which was largely responsible for dengue cases in Brazil surging 165% during the first few months of 2022 – according to figures from the Brazilian Ministry of Health. As well as spreading dengue, Aedes aegypti can also transmit the zika and chikungunya virus.
 
When a mosquito lands on the new transparent topcoat, the permethrin is absorbed through its feet and over-excites the insect’s nervous system, causing it to disengage or fall off. Permethrin is a well-known repellent and is commonly used in fabrics for mosquito nets and protective clothing.

People in Brazil have a new ally in the fight against an invasive carrier of dengue fever – a mosquito-repellent coating developed by AkzoNobel’s Coral brand.
 
Known as Well-being Protection Anti-Mosquito, the colorless matt varnish contains an active ingredient called permethrin. Its repellent action is specifically designed to combat the Aedes aegypti mosquito, which was largely responsible for dengue cases in Brazil surging 165% during the first few months of 2022 – according to figures from the Brazilian Ministry of Health. As well as spreading dengue, Aedes aegypti can also transmit the zika and chikungunya virus.
 
When a mosquito lands on the new transparent topcoat, the permethrin is absorbed through its feet and over-excites the insect’s nervous system, causing it to disengage or fall off. Permethrin is a well-known repellent and is commonly used in fabrics for mosquito nets and protective clothing.

The effectiveness of Well-being Protection Anti-Mosquito was tested in an independent external laboratory, certified by the Brazilian Network of Analytical Laboratories in Health. All the tests took place on painted walls and ceilings in a life-size house environment and successfully proved that mosquitoes were repelled from the room after contact, with the active ingredient being retained in the varnish matrix.

Source:

AkzoNobel

AkzoNobel acquires African paints and coatings activities from Kansai Paint (c) AkzoNobel
01.06.2022

AkzoNobel acquires African paints and coatings activities from Kansai Paint

AkzoNobel is to further strengthen its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region. Completion, which is subject to regulatory approvals, is expected during the course of 2023.
 
Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around €280 million. The transaction includes the Plascon brand, which has more than 100 years of heritage in South Africa. Together with our own Dulux brand, they’re the longest-established paint brands in the region. The intended acquisition also includes automotive and protective coatings, and coatings for wood and coil.
 
“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth,” says AkzoNobel CEO, Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.”
 

AkzoNobel is to further strengthen its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region. Completion, which is subject to regulatory approvals, is expected during the course of 2023.
 
Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around €280 million. The transaction includes the Plascon brand, which has more than 100 years of heritage in South Africa. Together with our own Dulux brand, they’re the longest-established paint brands in the region. The intended acquisition also includes automotive and protective coatings, and coatings for wood and coil.
 
“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth,” says AkzoNobel CEO, Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.”
 
Adds Kunishi Mori, Kansai Paint’s president: “We are convinced that AkzoNobel is the best owner as AkzoNobel considers the decorative paints business as a core business and will therefore be able to unlock the full potential of the business, thereby contributing to the development of the African economy.
 
”For Prejay Lalla and Arvind Shekhawat, Chief Executive Officers of KPAL and KPEA (the respective Africa entities being sold by Kansai Paint in this transaction), this agreement is an opportunity to further enhance growth. “We believe that AkzoNobel will be the owner who will elevate the business to the next level as AkzoNobel is willing to invest in ESG, is committed to innovation, workforce development and broader career opportunities as well as the long-term success of its paint businesses in Africa.”
 
The intended acquisition follows on from a series of recent acquisitions by AkzoNobel across paints and coatings over the last two years, including Titan Paints in Spain and Portugal, New Nautical Coatings in the US and, most recently, Grupo Orbis in Latin America.

More information:
AkzoNobel Coatings Automotive
Source:

AkzoNobel

(c) AkzoNobel
19.05.2022

AkzoNobel and partners team up to hack carbon reduction challenges

A boundary-pushing approach to hacking carbon reduction challenges has been established by AkzoNobel and partners from across the extended value chain following the company’s first ever global Collaborative Sustainability Challenge.

During 24 hours of intense discussion at the pioneering event a series of high impact exploration teams was set up. Those involved will now continue to work together in a determined effort to collectively accelerate the reduction of carbon emissions in the paints and coatings industry.

The participants – represented by senior and next generation leaders – hacked four key areas: energy transition, process efficiency, solvent emissions and circular solutions. It resulted in 27 partners signing up, including suppliers, customers and end-users, as well as representatives from finance, government, service providers and consultancies.

A boundary-pushing approach to hacking carbon reduction challenges has been established by AkzoNobel and partners from across the extended value chain following the company’s first ever global Collaborative Sustainability Challenge.

During 24 hours of intense discussion at the pioneering event a series of high impact exploration teams was set up. Those involved will now continue to work together in a determined effort to collectively accelerate the reduction of carbon emissions in the paints and coatings industry.

The participants – represented by senior and next generation leaders – hacked four key areas: energy transition, process efficiency, solvent emissions and circular solutions. It resulted in 27 partners signing up, including suppliers, customers and end-users, as well as representatives from finance, government, service providers and consultancies.

AkzoNobel has set science-based sustainability targets to halve its carbon emissions across the full value chain by 2030. Achieving that ambition will rely heavily on collaborating with partners and challenging each other to find innovative ways to overcome the unprecedented challenges everyone faces.

Source:

AkzoNobel

22.04.2022

AkzoNobel shareholders approve final dividend at Annual General Meeting

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

Shareholders voted to approve the resolutions presented at AkzoNobel’s virtual Annual General Meeting (AGM), including a final dividend of €1.54 per share, on the 22nd of April 2022.

All shareholders were able to attend and vote virtually, while questions could be asked live during the meeting, in addition to those that had been submitted in advance.

CFO Maarten de Vries was reappointed as a member of the Board of Management for a second four-year term. Mr. Nils Smedegaard Andersen and Mr. Byron Grote were reappointed as members of the Supervisory Board. Mr. Andersen was reappointed for a second four-year term and will continue as Chairman of the Supervisory Board. Mr. Grote was reappointed for a third term of two years.

The nominations of Mrs. Ester Baiget and Mr. Hans van Bylen to the Supervisory Board were also approved by the shareholders.

More information:
AkzoNobel general meeting
Source:

AkzoNobel

22.04.2022

AkzoNobel completes acquisition of Colombia-based coatings company Grupo Orbis

Akzo Nobel N.V. has completed the acquisition of Colombia-based paints and coatings company Grupo Orbis, strengthening its long-term position in Latin America.

Present in ten countries in Central America, South America and the Antilles, Grupo Orbis has consolidated revenue of around €360 million. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins, emulsions, adhesives and specialty chemicals), Mundial (paints and related product distribution services) and Centro de Servicios Mundial (shared services center).

The Pintuco portfolio consists of 75% decorative paints and 25% coatings, offering a wide range of products across ten countries, creating several opportunities for revenue synergies.

Akzo Nobel N.V. has completed the acquisition of Colombia-based paints and coatings company Grupo Orbis, strengthening its long-term position in Latin America.

Present in ten countries in Central America, South America and the Antilles, Grupo Orbis has consolidated revenue of around €360 million. The transaction includes the Pintuco paints and coatings business, Andercol and Poliquim (resins, emulsions, adhesives and specialty chemicals), Mundial (paints and related product distribution services) and Centro de Servicios Mundial (shared services center).

The Pintuco portfolio consists of 75% decorative paints and 25% coatings, offering a wide range of products across ten countries, creating several opportunities for revenue synergies.

More information:
AkzoNobel Coatings
Source:

AkzoNobel