AkzoNobel Q2 Report 2023

Profit growth driven by solid pricing and resilient volumes

Revenue Q2 2023: Up 3% in CC.

Pricing: Up 5%

Pricing up 5%, 25% on 3yr-stack.

Coatings: Pricing up 4%.

Paints: Pricing up 6%.

Revenue was 4% lower, and 3% higher in constant currencies, with pricing up 5%. Volumes were 1% lower, with trends improving after a weak start to the quarter. Acquisitions added 1%, mainly related to Grupo Orbis (acquired April 21, 2022). Other mainly relates to the impact of hyperinflation accounting, which reduced revenue by 2%, mostly due to the devaluation of the Turkish Lira.

Q2 2023 financial performance
Up on resilient volume and robust pricing, unfavorable FX.