What is AkzoNobel's 2026 adjusted EBITDA outlook, and what is the primary driver of the expected improvement?

AkzoNobel expects a €100 million improvement in adjusted EBITDA in constant currencies for 2026, reaching €1.47 billion or above, based on year-end 2025 exchange rates and adjusted for the AkzoNobel India Ltd. (ANIL) divestment. This improvement is primarily supported by €90 million of net savings from the company’s ongoing cost-savings program, which it aims to complete by year-end while maintaining strict cost discipline.

How did AkzoNobel's first-quarter 2026 financial performance compare to the same period in 2025, and what key factors influenced the results?

In Q1 2026, AkzoNobel reported net profit of €93 million, down from €107 million in Q1 2025; adjusted EBITDA declined 3% year-on-year to €345 million — though it beat analysts’ consensus estimate of €321 million — and adjusted EBITDA margin rose 0.8 percentage points to 14.5%. Revenue fell 9% to €2.39 billion, driven by 1% lower organic sales due to weaker volumes in Europe and North America amid market uncertainty, while volumes in Asia were strong; price/mix was flat, and the ANIL divestment contributed a €36 million negative impact on adjusted EBITDA.

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