CollisionWeek

Your source for the latest collision repair industry news, statistics and trend analysis.

  • News
  • Research
  • Feature
  • Subscribe
You are here: Home / News / AkzoNobel Says Raw Material Supplies Normalizing in Q3 Financial Update

AkzoNobel Says Raw Material Supplies Normalizing in Q3 Financial Update

September 29, 2022 By CollisionWeek Editor

On Tuesday, AkzoNobel provided a third quarter update as high macro-economic uncertainty, especially in Europe and China, led to near historical low consumer confidence. The company said that in anticipation, customers and channel partners in the paints and coatings industry are proactively destocking in these regions.

According to the company, adjusted operating income is now expected to be in the range of €195 million ($190.6 million) to €215 million ($210.2 million) compared to the 2021 result of €241 million, excluding a retroactive impact from hyperinflation accounting regarding Turkey.

The company also addressed demand, inflation and material supply issues in the update stating, “Current demand trends are expected to continue in Q4, whilst benefits will come from the company’s own initiatives to reduce costs, improve working capital and ongoing pricing initiatives. While Q3 will see the highest raw material cost impact since the inflation cycle started early 2021, pricing will continue to offset raw material and freight inflation. Overall raw material supply is normalizing and raw material prices are starting to soften broadly.”

The company will report its third quarter results on October 20.

Filed Under: News Tagged With: AkzoNobel, Earnings, Supply Chain

Interview Sponsors

IBIS Publisher Partner

Login

Remember Me
Subscribe | Lost your Password?

Tags

AAA AASP/NJ Acquisitions Advanced Driver Assistance Systems Agreements Signed Annual Conference Auto Care Association Automotive Service Association Autonomous Vehicles Awards Axalta Coating Systems Board of Directors Boyd Group California Canada Career and Technical Education CARSTAR CCC Collision Industry Electronic Commerce Association Collision Repair Education Foundation Coronavirus Crash Champions Diagnostics Donations Earnings Electric Vehicles Florida I-CAR Lawsuits legislation LKQ Corporation National Auto Body Council Network Affiliations New Jersey New Vehicle Sales Non-OEM Parts Openings People PPG Industries Regulations Right to Repair Scholarships Texas United Kingdom Workforce Development

Recent Articles

  • Travelers to Sell Canadian Insurance Operations to Definity for $2.4 Billion May 28, 2025
  • Oklahoma Storage and Total Loss Administrative Charge Price Control Bill Becomes Law May 28, 2025
  • LKQ Publishes 2024 Global Sustainability Report May 28, 2025
  • Fix Auto Franchisee Opens 6th Location in California May 28, 2025
  • Florida Body Shop Owner Pleads Guilty to Bank Fraud May 28, 2025
  • Liberty Mutual Insurance Donates $25,000 to Collision Engineering Career Alliance May 27, 2025
  • CARSTAR Adds Collision Repair Center in Deerfield Beach, Florida May 27, 2025

CollisionWeek Membership

  • Login
  • Lost Password
  • Membership Details
  • Register
  • Sponsors
  • Subscription Information
  • Terms of Use for CollisionWeek

More Information

About CollisionWeek
Contact Us
Privacy Policy
Event Calendar
Take the Collision Repair Business Conditions Survey

Copyright 1999-2025 - QuanDec Corporation - All Rights Reserved · Log in