Akzo Nobel N: AkzoNobel Reports 9% Revenue Growth in Fourth Quarter on Strong Pricing to Weather Commodity Headwinds

Preserving sports history

We padded the impressive Centenario Stadium in Uruguay, which was built to host the first ever FIFA World Cup in 1930. The stadium has just been refurbished and our Inca brand has been a big help providing 12,000 liters of painting. An important consideration was the use of colors that respected the essence of architect Juan Antonio Scasso’s original project. In addition to the exterior cladding and the stands, our products were also used in the changing rooms, the tunnel and the indoor warm-up areas.

Leading the Way in Sustainability

In 2021, we became the first paints and coatings company to receive official validation for setting science-based sustainability goals. The commitment we have made – a 50% reduction in carbon emissions by 2030 (baseline 2018) – covers the entire value chain and is aligned with the 1.5˚C trajectory of the agreement from Paris. Validation was confirmed just weeks before we became one of the first recipients of the Terra Carta Seal, a major new sustainability award launched at COP26. We were the only paints and coatings company to receive this honor.

Formalization of Responsible Mica Initiative membership

We formalized our membership of the Responsible Mica Initiative (RMI), having been one of the founding members when it launched in 2017. Used in a wide range of industries, mica minerals are widely mined in India, where a variety of factors contribute to poor working conditions, including the use of child labor. RMI’s mission is to establish responsible and sustainable mica supply chains free of child labor. After the RMI pilot year, we continued to focus on the issue and a commitment was made to conduct serious due diligence and look for creative ways to contribute to the initiative – which has now resulted in separate membership whole.

Bring color to the community

As part of our global “Let’s Colour” program, we partnered with a community of mural artists in Bandung, Indonesia to paint the walls of Saparua Sports Center. The place is a cultural heritage center for sport, creativity, arts and music.

Protect a record holder

We rode the very impressive Ain Dubai, the tallest and largest Ferris wheel in the world. It is now officially open to visitors, who enjoy stunning 360˚ views from its 48 passenger capsules. Measuring a dizzying 250 meters and having over 9,000 tonnes of steel, we were the only supplier of protective coatings for the massive structure. The specification – from our international brand – is designed to offer maximum protection, as well as exceptional color and shine retention

The world’s brightest startups join the Paint the Future bootcamp

Our latest Paint the Future Global Startup Challenge invited 10 finalists to participate in a three-day bootcamp to be held in Amsterdam in March 2022. They will meet our experts face-to-face to explore potential collaborations together. The winners selected by the jury will be announced during the closing ceremony of the event. They will receive a prestigious Paint the Future award and a collaboration agreement to work with AkzoNobel on sustainable business opportunities.

Endless powder coating possibilities

Our new Interpon W range of innovative powder coatings on wood achieved its first commercial successes in 2021. Designed for heat-sensitive substrates (indoors and outdoors), it is a smart system which makes it possible to coat a variety of heat-sensitive materials in a durable, long-lasting and more efficient way. Suitable for interior design, automotive and architecture, the product range also includes special solutions for antimicrobial and food contact surfaces.


AkzoNobel aims to grow at or above its relevant markets, in line with its Grow & Deliver strategy. Trends differ across regions and segments, while raw material cost inflation and supply constraints are expected to gradually ease by mid-2022. Plans are in place to achieve the adjusted EBITDA target of €2 billion for 2023 and an average annual increase of 50 basis points in return on sales over the period 2021-2023. AkzoNobel targets a leverage ratio of 1 to 2 times net debt/EBITDA and is committed to maintaining a strong investment grade credit rating.

The fourth quarter and full year 2021 report can be viewed and downloaded https://akzo.no/results-2021

1 Calculations at constant exchange rates exclude the impact of changes in exchange rates

2 Adjusted operating profit = operating profit excluding identified items

3 Return on sales (ROS) is adjusted operating income as a percentage of sales; ROS excluding unallocated costs was reported in relation to the Win Together: 15 by 20 strategy and is no longer reported

This press release covers the highlights of the quarter. We recommend that you read the press release in conjunction with the full AkzoNobel Q4FY 2021 report. The Q4FY 2021 report provides additional information, including IAS34 condensed consolidated financial statements. ROS, adjusted OPI and adjusted BPA are alternative performance measures (APM). AkzoNobel uses APM adjustments to IFRS measures to provide additional reporting information on underlying business developments. A reconciliation of alternative performance measures to the most directly comparable IFRS measures is available in the AkzoNobel Q4FY 2021 report.

All figures in the AkzoNobel Q4FY 2021 press release and report are unaudited. The condensed half-yearly consolidated financial statements were discussed and approved by the Management Board and the Supervisory Board. These summary financial statements have been authorized for issue.

This is a public announcement by Akzo Nobel NV pursuant to Article 17(1) of the EU Market Abuse Regulation (596/2014).

About AkzoNobel

We provide the sustainable and innovative paints and coatings that our customers, communities – and the environment – increasingly rely on. That’s why everything we do starts with people. Planet. To paint. Our portfolio of world-class brands – including Dulux, International, Sikkens and Interpon – are trusted by customers around the world. We are active in over 150 countries and aim to become the global industry leader. It’s what you expect from a pioneering paint company that is committed to science-based goals and taking real action to address challenges of global significance and protect future generations.