AkzoNobel: stock down after quarterly results
(CercleFinance.com) - AkzoNobel shares are down over 4% in Amsterdam today, following the publication of adjusted EPS that is up 14% to E1.
14 for Q3 2024, while adjusted EBITDA was down 5% to E394m, representing a margin that fell 0.3 point to 14.8%.
At E2.67bn, revenues of the Dutch chemicals group were down 3% as reported, but up 1% organically, thanks to volume growth in coatings, while those in paints remained stable.
Based on current market conditions and at constant exchange rates, AkzoNobel anticipates adjusted EBITDA of around E1.5bn in 2024. Over the medium term, it is targeting an improved adjusted EBITDA margin of over 16%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
14 for Q3 2024, while adjusted EBITDA was down 5% to E394m, representing a margin that fell 0.3 point to 14.8%.
At E2.67bn, revenues of the Dutch chemicals group were down 3% as reported, but up 1% organically, thanks to volume growth in coatings, while those in paints remained stable.
Based on current market conditions and at constant exchange rates, AkzoNobel anticipates adjusted EBITDA of around E1.5bn in 2024. Over the medium term, it is targeting an improved adjusted EBITDA margin of over 16%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.