Akzo Nobel N.V. published results for the third quarter of 2021. Pricing is up 9% compared with Q3 2020. Revenue is €2.410 billion, up 6% (up 5% from Q3 2019, in constant currencies). Raw material and other variable costs increased €278 million compared with Q3 2020. Adjusted operating income is lower at €241 million (2020: €353 million).
 
“During the third quarter, as predicted, extraordinary levels of raw material costs and supply disruptions impacted our business,” said AkzoNobel CEO Thierry Vanlancker. “Despite supply constraints and the resulting backlog, we were able to demonstrate 6% revenue growth. 

“I’m very proud of our team’s focus on our own pricing, as demonstrated by the 10% increase run rate by the end of the third quarter,” added Vanlancker. “We’re on track to have our own pricing actions offset the raw material inflation by year-end. As we’ve already indicated, the headwinds are likely to be with us going into 2022. However, we’ve established a strong pathway for our Grow & Deliver ambition and remain confident in the €2 billion EBITDA target for 2023.”