AkzoNobel’s 2024 annual report published online

(AKZA; AKZOY)

AkzoNobel has published its digital Report 2024, which gives details of how the company demonstrated its ability to grow profitability in mixed market conditions.

Available via the company’s website, the online annual report offers extensive coverage of AkzoNobel’s financial results and key business developments during 2024. The Sustainability section has also been expanded to align ESG disclosures with the Corporate Sustainability Reporting Directive (CSRD).

In his opening statement, CEO Greg Poux-Guillaume reflects on a year that presented a series of challenges.

“We faced a complex operating environment, with continued inflationary pressure, adverse currency impacts and unstable markets,” he says. “Although these headwinds spurred competitive intensity and tested our resilience, they also strengthened our determination to control our own destiny by stepping up self-help measures that ultimately boosted our performance.”

The four main sections in the report focus on strategy and operations, sustainability, leadership and governance, and financial performance. Key highlights of the sustainability pages include insight on how the company reduced its carbon footprint by 41% (Scope 1 and 2) versus the 2018 baseline – underlining the progress AkzoNobel is making towards its 50% reduction target for 2030. This was mainly driven by the percentage of renewable electricity reaching 65%.

Looking ahead to 2025, Poux-Guillaume adds: “We’re making AkzoNobel stronger, more dynamic and more competitive. This will serve us well when our end markets start growing again, putting us on track to deliver on our mid-term ambitions. Our direction is clear and our strengths are real.”