AkzoNobel provides Q3 update

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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... ... More: Official Press Release AkzoNobel

Keywords:

AkzoNobel, adjustment, Q3, uncertainty, update, macro economic, region, Europe, Asia, coatings, paint, destocking