Akzo Nobel NV

AKZA: XAMS (NLD)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€19.00	Tjbymdc	Sjztqwvfy

AkzoNobel Earnings: Disappointing Profit Delivery and Caution on Full-Year Guidance

Diana Radu

Jul 24, 2024

Narrow-moat AkzoNobel delivered slightly disappointing second-quarter 2024 results, with an adjusted EBITDA margin of 14.4%, around 80 basis points below the Visible Alpha consensus and slightly below the prior-year level. This was mainly driven by the operating expenses line, which came in EUR 20 million higher than expected, driven by some cost inefficiencies and wage cost inflation. Volume growth was also subdued at 1%, given weak sales in the decorative paints Europe, Middle East, and Africa business, with poor weather in June affecting exterior paint sales.

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