Dutch paint and coatings giant AkzoNobel announced a 1.7% decrease in core profit for the first quarter, surpassing expectations due to cost-cutting measures and price increases. The company's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter stood at €357 million (approximately $406.7 million), down from €363 million the previous year, yet exceeding analysts' average forecast of €345 million.
CEO Greg Poux-Guillaume highlighted the effectiveness of efficiency measures in offsetting market weakness and ongoing inflation. AkzoNobel also noted that the annualized EBITDA impact from tariff wars is manageable, with an expected €25 million impact on U.S. exports and a €10 million impact on imports from the U.S.
The company's strategy of local sourcing and risk reduction continues to shield it largely from direct impacts on cost base or delivery capacity. AkzoNobel's first-quarter revenue was €2.61 billion, a 1% decline compared to the same period last year.
