Q1 organic revenue up 2% (Il Sole 24 Ore Radiocor) - Amsterdam, 23 Apr - Dutch paint and coatings company AkzoNobel said that in the first quarter revenue fell 1% year on year to 2.640 billion euros. Howver organic revenue grew 2%.

Adjusted EBITDA rose 19% to 363 million euros and the operating income added 43% to 261 million.

The adjusted EBITDA margin widened to 13.8% from 11.5%.

Net cash from operating activities was a negative 170 million euros against a negative 50 million a year earlier.

AkzoNobel targets to deliver an adjusted EBITDA of 1.50-1.65 billion euros in 2024, while reducing its leverage to around 2.3 times net debt/EBITDA by the end of the year.

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(RADIOCOR) 23-04-24 08:55:25 (0192) 5 NNNN