EarningsQ2 2026 Earnings Report
DE:AKUP Q2 2026 EPS Results
Actual EPS€0.35
Consensus EPS€0.39
Beat/MissMissed by -€0.05
One Year Ago EPS€0.38
DE:AKUP Q2 2026 Revenue Results
Actual Revenue€2.57B
Expected Revenue€2.53B
Beat/MissBeat by +€40.93M
YoY Revenue Growth+1.14%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeBefore Open
Conference CallWednesday, July 22, 2026
DE:AKUP Upcoming Earnings
Akzo Nobel's next earnings date is estimated for October 21, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:AKUP Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call showcased solid operational and financial progress: organic growth, disciplined pricing, margin expansion, positive free cash flow, improved working capital and an ambitious sustainability milestone. Management reiterated full-year EBITDA guidance and detailed clear merger synergy potential with Axalta. Key challenges include Deco volume softness (EMEA and China), negative mix effects, Marine project timing, raw material inflation volatility, and evolving Russia-related uncertainty. Overall the positives in margin improvement, cash flow, sustainability achievement and merger upside outweigh the operational headwinds and one-off impacts.Company Guidance
Organic Sales Growth and Pricing
Organic sales increased 2% year-on-year in Q2 with pricing up 3% and volumes broadly stable; company emphasized implemented pricing to protect margins.
Margin Expansion
Adjusted gross margin improved to 42.7% (up 70 basis points) and adjusted EBITDA margin rose to 15.4% (up 40 basis points), marking the fifth consecutive quarter of year-on-year margin expansion.
Adjusted EBITDA and Profitability
Adjusted EBITDA was EUR 398 million, up 5% at comparable scope and in constant currencies (excluding the India disposal); management reiterated 2026 adjusted EBITDA target at or above EUR 1,470 million.
Free Cash Flow and Working Capital
Delivered EUR 108 million of free cash flow in Q2; trade working capital improved to 15.6% of revenue (140 basis points improvement YoY) and return on investment increased to 13.8%.
Capital and Leverage Position
Issued a EUR 750 million bond in June to finance the special dividend related to the Axalta merger; net leverage at 2.2x.
Operational Segment Highlights
Coatings volumes rose 2%; Powder coatings delivered mid-single-digit growth with architectural and Asia momentum; Automotive & Specialty volumes up mid-single digits with aerospace strong; Refinish returned to growth.
Sustainability Milestone
Achieved a 50% reduction in Scope 1 and 2 carbon emissions, four years ahead of schedule, highlighting leadership on sustainability.
Merger Progress and Synergy Potential
Merger with Axalta progressing as planned: shareholder vote set for August 5; identified north of $600 million cost synergies (≈90% capture within 3 years) and targeted 100–200 basis points of revenue synergies; on track to close by end-2026/early-2027.
DE:AKUP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed