Decreased Volume Impacts Akzo Noble Earnings

Akzo Nobel N.V. had revenues of €2,403 million in the fourth quarter of 2022, an increase of eight per cent compared to revenues of €2,606 million in the fourth quarter of 2021. Revenues were driven by increases in pricing which were offset by decreased volume. Operating income was €103 million for the quarter, down 50 per cent from €205 million in the year-ago period while operating income margin was four per cent compared to 8.5 per cent.