Q3 2025 Akzo Nobel NV Earnings Call Transcript

Oct 22, 2025 / 07:00 AM GMT

Release Date Price: $72

Transcript

Key Points

Positve

Akzo Nobel NV (AKZOF) achieved an adjusted EBITDA of €385 million, or €411 million excluding Forex translation, with a margin improvement to 15.1%, demonstrating resilience in a weak market.
Free cash flow significantly strengthened to €244 million, driven by improved working capital management.
The company achieved net OpEx savings of €63 million year-to-date, surpassing their plan.
Leverage improved to 2.8 times, with a year-end projection slightly above 2 times following the expected closing of the India transaction.
The SG&A program is fully implemented, with annualized savings increased to at least €175 million, ahead of original targets.

Negative

Group volumes were down 1% year-on-year, with coatings particularly affected by soft markets in North America.
A €300 million provision was taken in Q3 related to a long-running litigation case in Australia, impacting financials.
The North American market remains weak, affecting the automotive and specialty segments, with refinished demand soft.
Currency translation had a negative 5% impact on revenue, resulting in a reported revenue decline of 5%.
The company expects volumes to remain slightly down in Q4, reflecting ongoing softness in North America and other select markets.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AKZO.AS - Akzo Nobel NV
Q3 2025 Akzo Nobel NV Earnings Call
Oct 22, 2025 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to Ax and Nobel's Investor update for the 3rd quarter of 2025. I'm Kenny Chey, head of investor relations. Today our CEO Greg Kuguillo and CFO Martin Dere will take you through our results. We'll refer to the presentation which you can follow by webcast or download from our website at axonobbel.com. A replay of the webcast will also be made available following the events. There will be a Q&A session after the presentation. For additional information, please contact our investor relations team.

Before we start, a reminder of our forward-looking statements disclaimer on slide 2. Please note this also applies to the conference call and answers to your questions. I will now hand over to Greg, who will start on

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