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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Akzo Nobel
Akzo Nobel (AKZA) investor relations material
Akzo Nobel Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary21 Oct, 2026
Executive summary
Q3 organic sales grew 2%; adjusted EBITDA was €388m and margin rose 20 bps to 15.3%, marking six consecutive quarters of margin expansion.
YTD organic sales rose 1%, while organic volumes declined 1%; market recovery remained delayed.
Southeast Asia Decorative Paints sale agreements advanced, and the proposed Axalta merger remained on track for early 2027, subject to approvals.
Financial highlights
Q3 revenue was €2,538m versus €2,547m; organic sales rose 2% on pricing +5%, offset by volumes -2% and mix -1%. Scope reduced revenue 5%; FX/Other added 3%.
Q3 adjusted EBITDA was €388m versus €385m, up €15m at comparable scope and constant currencies; adjusted margin increased to 15.3% from 15.1%.
Q3 operating income was impacted by Russian deconsolidation (€230m) and the Pakistan divestment (€46m), as well as merger-related costs.
9M revenue fell 4% to €7,513m; adjusted EBITDA was €1,131m, with €54m organic growth.
Q3 free cash flow was €119m and 9M free cash flow €83m; €69m of YTD transaction costs weighed on cash flow.
Outlook and guidance
FY 2026 adjusted EBITDA guidance remains around €1.47bn; organic volumes are expected to decline 1%.
Pricing is expected to fully offset raw-material and logistics inflation; raw-material inflation was high single digits in Q3 and is expected at a similar level in Q4.
FY 2026 identified-item cash outflow is ~€300m, including merger costs; capex is guided at €275m, with leverage around 2x and dividend stable.
Mid-term targets include adjusted EBITDA CAGR >6%, margin >16%, volume growth CAGR +LSD%, and adjusted return on average invested capital of 16%–19%.
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Latest events from Akzo Nobel
- Q2 2026 delivered margin expansion and EBITDA growth, with Axalta merger and risks in focus.AKZA
Q2 2026 - Strong results, merger plans, and all proposals approved amid governance and remuneration debate.AKZAAGM 2026
- Adjusted EBITDA margin rose to 14.5% despite revenue decline; Deco and Asia drove growth.AKZAQ1 2026
- Flat sales, margin gains, and India divestment set stage for Axalta merger and future growth.AKZAQ4 2025
- All-stock merger forms a $17B coatings leader, targeting $600M synergies and global scale.AKZAM&A Announcement
- Q3 EBITDA margin rose to 15.1%, free cash flow improved, and a €300m legal provision was booked.AKZAQ3 2025
- Q3 2024 delivered 1% organic growth, margin gains, and ongoing cost actions amid FX headwinds.AKZAQ3 2024
- Q2 2024 saw 2% organic sales growth, stable EBITDA, and strong Performance Coatings results.AKZAQ2 2024
- Adjusted EBITDA rose 3% to €1.5 billion, with 2025 guidance set above €1.55 billion.AKZAQ4 2024
Next Akzo Nobel earnings date
Q4 20263 Feb, 2027
Akzo Nobel
Next Akzo Nobel earnings date
Q4 20263 Feb, 2027
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Frequently asked questions
Over 350 years of experience in paint
Akzo Nobel is a multinational company operating out of the Netherlands that specializes in the manufacturing and distribution of paints, coatings, and specialty chemicals. With a rich history dating back over 200 years, Akzo Nobel has established itself as a global leader in the industry. The company offers a wide range of products and solutions for various sectors, including architectural coatings, paint for industrial use, automotive and marine coatings, as well as specialty chemicals.
Boasting a rich and fascinating history
Akzo Nobel can trace its roots back to the late 1700s. The company's foundation began with the establishment of Sikkens, a Dutch paint producer, in 1792. Over the years, Sikkens grew and expanded its operations, building a reputation for quality and innovation in the coatings industry.
The merger of Akzo and Nobel
In the 20th century, the company evolved through a series of mergers and acquisitions. Arguably the most significant milestone was the merger between Akzo and Nobel Industries in 1994, which gave rise to the present-day company. This merger brought together two industry leaders in coatings, chemicals, and pharmaceuticals, forming a global powerhouse with a diverse product portfolio and a strong presence in various markets. Since then, Akzo Nobel has continued to evolve and grow, focusing on delivering sustainable solutions and pioneering advancements in the coatings and chemicals industry.
The business today
Akzo Nobel is, as previously mentioned, a global brand with a broad presence in markets all over the world, and are operating in over 150 countries. With a diverse portfolio of products, they cater to various sectors, including decorative paints, performance coatings, and specialty chemicals. Their renowned brands, such as Dulux, Sikkens, and International, offer a wide range of colors, finishes, and protective coatings. While their products are widely used by professional painters and industrial customers, Akzo Nobel also provides paints and coatings that are accessible to private individuals. When looking at companies operating within the same market segment and competing with Akzo Nobel we find names such as PPG, Sherwin-Williams, and Axalta.