PHOTO COURTESY AKZONOBEL

AkzoNobel, parent company of International Paint, Interlux, Awlgrip and Sea Hawk, yesterday released its fiscal 2022 annual report. The company reported €10.8 billion ($11.5 billion) in revenue and operating income of €708 million ($755.4 million).

Adjusted operating income for the year was €789 million ($841 million), with EBITDA of €1.1 billion ($1.173 billion).

“I’m convinced that our ongoing transformation will set us up for profitable growth for years to come,” CEO Greg Poux-Guillaume said in a statement. “It’s been a question of finding the right balance between adapting to the external challenges we’re facing — which require decisive measures — and the agility we need to run our businesses. One of our key successes in weathering the storm has been our ability to offset the impact of raw material and freight cost inflation with strong pricing initiatives, with cumulative price increases of 23 percent over the last two years.”

The company’s marine and protective coatings division reported annual revenue of €1.4 billion ($1.5 billion) last year, up from €1.2 billion ($1.3 billion) in 2021.

“We were extremely pleased to continue doing what we do best — supporting the success of our customers in a sustainable way,” division director Simon Parker said in the statement.

AkzoNobel has yet to provide guidance for fiscal year 2023.