Akzo Nobel Targets To Deliver Between €1.5 And €1.65 Bln Adjusted EBITDA In 2024
April 23 (Reuters) -AKZO NOBEL AKZO.AS:
NET CASH FROM OPERATING ACTIVITIES NEGATIVE €170 MILLION (2023: NEGATIVE €50 MILLION)
TARGETS TO DELIVER BETWEEN €1.5 AND €1.65 BILLION ADJUSTED EBITDA IN 2024
COMPANY AIMS TO LOWER ITS LEVERAGE TO AROUND 2.3 TIMES NET DEBT/EBITDA BY THE END OF 2024
FOR THE MID-TERM, AKZONOBEL AIMS TO EXPAND PROFITABILITY TO DELIVER AN ADJUSTED EBITDA MARGIN OF ABOVE 16% AND A RETURN ON INVESTMENT BETWEEN 16% AND 19%
AIMS TO LOWER ITS LEVERAGE TO AROUND 2.3 TIMES NET DEBT/EBITDA BY THE END OF 2024 AND AROUND 2 TIMES IN THE MID-TERM
Q1 ORGANIC SALES UP 2%, DRIVEN BY HIGHER VOLUMES IN BOTH PAINTS AND COATINGS; REVENUE DOWN 1%
Source text for Eikon: nNDL4cg5rC
Further company coverage: AKZO.AS
(Gdansk Newsroom)
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