(Reuters) – Dulux paints maker AkzoNobel forecast on Wednesday a 3% rise in its core earnings for 2025, but it would fall short of estimates.
The Dutch maker of paints and coatings sees its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to surpass 1.55 billion euros ($1.62 billion) for the year ended Dec. 31, missing the 1.58 billion euros estimates by analysts in a company-compiled consensus.
AkzoNobel’s quarterly profit rose 3% from a year earlier to 321 million euros, missing analysts’ average estimate of 323 million euros.
“Looking ahead, we don’t expect a significant market rebound in 2025,” CEO Greg Poux-Guillaume said in a release.
The group, which sells decorative paints to consumers and professionals and specialised coatings used by many industries, said its yearly operating income dropped 40% to 127 million euros, mainly impacted by restructuring costs.
($1 = 0.9579 euros)
(Reporting by Dimitri Rhodes and Anna Peverieri; Editing by Rashmi Aich)
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