In his opening statement, CEO Greg Poux-Guillaume explains how ongoing efforts to strengthen the company paid off in 2023 – and continue to gather pace.

“Our volumes stabilized – despite continuing volatility in some of our markets – while our profits rebounded on resilient pricing and the first effects of raw material deflation,” he says. “This allowed us to absorb persistent global inflation and unfavorable currency effects to beat the targets we’d set ourselves at the beginning of the year.”

The four main sections in the report are focused on strategy and operations, sustainability, leadership and performance, and financial performance. Key highlights of the sustainability pages include our 38% carbon footprint reduction (Scope 1 and 2) versus our 2018 baseline – which underlines the good progress we’re making towards our 50% reduction ambition for 2030. This was mainly driven by our percentage of renewable electricity reaching 62%, which means we’ve already achieved our interim ambition of 50% by 2025.

Looking ahead to 2024, Poux-Guillaume adds: “We’ll still be living in an inflationary world with some macro-economic uncertainty. However, we have good momentum and we expect to resume growing volumes while delivering further margin – and profit – expansion.”

To read the Report 2023, click here.

About AkzoNobel

Since 1792, we’ve been supplying the innovative paints and coatings that help to color people’s lives and protect what matters most. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and use our expertise to sustain and enhance the fabric of everyday life. Because we believe every surface is an opportunity. It’s what you’d expect from a pioneering and long-established paints company that’s dedicated to providing sustainable solutions and preserving the best of what we have today – while creating an even better tomorrow. Let’s paint the future together.