加速推进降本增效，阿克苏诺贝尔第三季度盈利能力提升至15.1%

Core Insights - AkzoNobel reported a 1% organic sales growth in Q3 2025, driven by price and product mix optimization, despite a 5% decline in sales due to unfavorable currency effects [1] - Adjusted EBITDA for Q3 2025 was €385 million, including a €26 million negative impact from currency fluctuations, compared to €394 million in Q3 2024 [1] - The adjusted EBITDA margin improved to 15.1% in Q3 2025 from 14.8% in Q3 2024, attributed to efficiency measures [1] - Net cash generated from operating activities was €331 million, up from €294 million in the same period last year [1] - The divestment of the Indian business is on track for completion in December 2025, with all regulatory approvals obtained [1] Mid-term Goals - AkzoNobel aims to achieve an adjusted EBITDA margin exceeding 16% and a return on investment between 16% and 19% through organic growth and operational excellence [2] - Post divestment of the Indian business, the company expects to maintain a net debt/adjusted EBITDA leverage ratio slightly above 2x by the end of 2025 [2] - The company plans to keep the leverage ratio around 2x in the medium term while maintaining a strong investment-grade credit rating [2] Legal Provisions - In Q3 2025, AkzoNobel recognized a €300 million provision related to the Ichthys project in Australia, with €275 million included in operating income [2] - The provision pertains to claims that meet IAS 37 recognition criteria as of September 30, 2025, while other claims not meeting these criteria are listed as contingent liabilities [2] - AkzoNobel has insurance coverage for cash outflows related to these provisions, with a maximum coverage of €500 million [2]