fbpx

AkzoNobel Grows Revenue Despite Macro-Economic Headwinds

Autosphere » Collision » AkzoNobel Grows Revenue Despite Macro-Economic Headwinds
Akzo Nobel Report. Photo Akzo Nobel

Here are the highlights of Q4 2022 (compared with Q4 2021) for Akzo Nobel:

Revenue is up 8% and 9% higher in constant currencies; pricing is up 11%, volumes 9% lower

Operating income at €103 million (2021: €205 million), resulting from lower volumes, higher raw material and freight costs, and inflation on operating expenses; OPI margin 4.0% (2021: 8.5%)

Adjusted operating income at €126 million (2021: €209 million), excludes €23 million negative impact from Identified items (2021: €4 million negative impact); ROS3 at 4.8% (2021: 8.7%)

Acquisition of wheel liquid coatings business of Lankwitzer Lackfabrik completed in December

Share buyback of €500 million finalized in December

And for 2022: Highlights full-year 2022 (compared with full-year 2021)

Revenue is up 13% and 11% higher in constant currencies, pricing is up 14%, volumes are 7% lower

Operating income at €708 million (2021: €1,118 million), resulting from lower volumes, higher raw material and freight costs, inflation on operating expenses and €46 million negative impact from hyperinflation accounting. OPI margin 6.5% (2021: 11.7%)

Adjusted operating income at €789 million (2021: €1,092 million), excludes €81 million negative impact from Identified items (2021: €26 million positive impact); ROS at 7.3% (2021: 11.4%)

Adjusted EBITDA at €1,157 million (2021: €1,436 million)

The final dividend proposed of €1.54 per share (2021: €1.54 per share) 

AkzoNobel CEO, Greg Poux-Guillaume, commented:

“Looking back on 2022, it was a year of persistent worldwide uncertainty as global events caused significant cost inflation, disrupted supply chains and prompted declining consumer confidence. Our Q4 results continued to be impacted by softer demand, as well as the lingering effects of COVID-19 in some of our most important markets.

“Moving forward, with our margin management and cost reduction programs firmly in place, we plan to mitigate the ongoing pressure from cost inflation and aim to deliver €1.2 to €1.5 billion adjusted EBITDA for 2023, based on current market conditions. Since I joined, I’ve personally witnessed the dedication of our teams around the world, and I’m confident that together we’ll continue to improve the performance of AkzoNobel.”

 

AkzoNobel in € millions

Q4 2021 Q4 2022 Δ%

Δ% CC

Revenue 2,403 2,606 8% 9%
Operating income 205 103 (50%)
Adjusted operating income 209 126 (40%)
ROS 8.7% 4.8%

 

AkzoNobel in € millions

FY 2021 FY 2022 Δ%

Δ% CC

Revenue 9,587 10,846 13% 11%
Operating income 1,118 708 (37%)
Adjusted operating income 1,092 789 (28%)
ROS 11.4% 7.3%

 

JOBS

 
VOLKSWAGEN DES SOURCES
F&I Manager
 
  DORVAL
  Permanent
 
 
VOLKSWAGEN DES SOURCES
New Vehicles Sales Consultant
 
  DORVAL
  Permanent
 
 
Acura Laval
Service Manager
 
  LAVAL
  Full time
 
 
Hamel Honda
Lease Renewal Manager - St-Eustache
 
  SAINT-EUSTACHE
  Full time
 
 
Hyundai Valleyfield
Vehicle Delivery Attendant - file assembly / back-up Financial & Insurance Manager
 
  SALABERRY-DE-VALLEYFIELD
  Full time
 

Popular Posts