Akzo Nobel Reports Flat Earnings Outlook Amid Soft Demand and Shares Drop 4.9%

Akzo Nobel expects flat earnings this year due to soft demand in key end markets. The Dutch paint maker forecasts adjusted EBITDA of at least €1.47 billion, slightly above last year but below analyst expectations. Shares fell 4.9% in Amsterdam, the sharpest intraday decline since October. Management has accelerated cost-cutting measures and reiterated confidence in its planned merger with Axalta Coating Systems.