PHOTO COURTESY AKZO NOBELCoatings manufacturer AkzoNobel yesterday announced its 2024 fourth quarter and full year financial results. The company is parent to Interlux, Awlgrip and Sikkens.
Full year revenue increased to €10.7 billion ($11.175 billion) from €10.67 billion ($11.144 billion), while operating income declined 11% to €917 million ($957 million) from €1.03 billion ($1.075 billion). Fourth quarter revenue increased 4% from €2.53 billion ($2.64 billion) to €2.62 billion ($2.735 billion), while operating income was down 41% from €214 million ($223.3 million) to €127 million ($133 million), largely due to restructuring costs.
In the marine and protective coatings categories, revenue increased 14% from €363 million ($379 million) to €414 million ($432 million) during the fourth quarter, driven by higher volumes in all regions and continued strong growth in new builds and increased activity in North America.
For the full year, revenue in the same categories was up 6% from €1.48 billion ($1.54 billion) to €1.58 billion ($1.65 billion), driven by higher volumes.
