Sales at constant exchange rates rose by 4% to €2,529 million in Q4, thanks to higher volumes and prices (reported sales were -3%).

Operating income improved to €214 million (2022: €103 million). Adjusted operating income stood at 221 million euros (2022: 126 million euros). ROS is up 8.7% to €244 million (2022: 4.8%).

For fiscal 2023, sales at constant exchange rates are up 5% to €10,668 million (reported sales are -2%).

Operating income improved to €1,029 million (2022: €708 million). Adjusted operating income was 1,074 million euros (2022: 789 million euros). ROS is up 10.1% (2022: 7.3%) and adjusted EBITDA stands at €1,429 million (2022: €1,157 million).

' Our objective is to generate adjusted EBITDA of 1.50 to 1.65 billion euros by 2024, based on current market conditions, and to achieve a net debt to EBITDA ratio of around 2.3 times by the end of 2024 ' said Greg Poux-Guillaume, CEO of AkzoNobel.

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