AkzoNobel highlights €2B target for adjusted EBITDA in 2023; initiatives include growth rates at or above company's relevant markets, product management and integrated supply chain initiatives

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AMSTERDAM , February 17, 2022 (press release) –

AkzoNobel (AKZA; AKZOY) is today hosting a live virtual investor event to further elaborate on the company’s Grow & Deliver strategy.

The event will reinforce confidence in the company’s €2 billion adjusted EBITDA target for 2023 and provide further clarity on plans that are in place to deliver the significant step-up.

Key building blocks towards 2023 versus 2021 include:

- ~€350m adjusted EBITDA improvement through “Grow”, growing at or above the company’s relevant markets
- ~€200m adjusted EBITDA improvement through “Deliver”, driven by product management and integrated supply chain initiatives

“We’re off to a strong start with our Grow & Deliver strategy,” explains AkzoNobel CEO, Thierry Vanlancker. “Organic revenue growth for 2021 was above the market and we’ve shown strong resilience with our Q4 2021 results. We’re very much on track as we continue to ramp up progress towards our 2023 targets.

“The plans we have in place are underpinned by a clear growth trajectory, along with significant operational efficiencies. We’re also well positioned in key growth markets, with strong brands and leading positions, and remain in excellent shape to further accelerate achieving our strategic ambitions.”   

The full presentation will be available today from 14.00 CET onwards via the company’s website at: https://www.akzonobel.com/en/investors/events#tabId=c59_data_table_42001.

The Grow & Deliver investor update starts at 14.00 CET. Please note that registration is needed to attend the Investor Update today. If you would like to join the event live, please e-mail: investor.relations@akzonobel.com. A replay of the event will also be made available.

About AkzoNobel
We supply the sustainable and innovative paints and coatings that our customers, communities – and the environment – are increasingly relying on. That’s why everything we do starts with People. Planet. Paint. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and have set our sights on becoming the global industry leader. It’s what you’d expect from a pioneering paints company that’s committed to science-based targets and is taking genuine action to address globally relevant challenges and protect future generations.

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