AkzoNobel | Report for the first quarter 2024
Our results at a glance
Highlights Q1 2024 (compared with Q1 2023)
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Organic sales up 2%, driven by higher volumes in both Paints and Coatings; revenue down 1%
Operating income improved to ¬261 million (2023: ¬182 million)
Adjusted EBITDA ¬363 million (2023: ¬305 million), adjusted EBITDA margin 13.8% (2023: 11.5%)
Net cash from operating activities negative ¬170 million (2023: negative ¬50 million)
Outlook*
Based on current market conditions and constant currencies, AkzoNobel targets to deliver between ¬1.5
and ¬1.65 billion adjusted EBITDA in 2024.
Summary of financial results
First quarter
January-March
in ¬ millions/%
2023
2024
"%
Revenue
2,657
2,640
(1%)
Operating income
182
261
43%
Identified items*
(36)
