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AkzoNobel: stock abandoned after quarterly results
(CercleFinance.com) - AkzoNobel shares are down over 3% in Amsterdam today, after the paints and coatings group announced adjusted EBITDA up 1% to E400m, representing a margin slightly down (-0.
1 point) to 14.4% on revenues that rose 2% to E2.78bn.
Although our operating costs are rising, efforts to mitigate this inflationary pressure are gathering pace, and measures are already underway beyond our industrial efficiency program, management said.
Based on current market conditions and at constant exchange rates, AkzoNobel expects to generate adjusted EBITDA in 2024 at the lower end of its full-year guidance range of E1.5bn to E1.65bn.
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1 point) to 14.4% on revenues that rose 2% to E2.78bn.
Although our operating costs are rising, efforts to mitigate this inflationary pressure are gathering pace, and measures are already underway beyond our industrial efficiency program, management said.
Based on current market conditions and at constant exchange rates, AkzoNobel expects to generate adjusted EBITDA in 2024 at the lower end of its full-year guidance range of E1.5bn to E1.65bn.
Copyright (c) 2024 CercleFinance.com. All rights reserved.