The Dutch paint company AkzoNobel, known for brands such as Flexa, Sikkens, and Dulux, is struggling with disappointing sales due to global economic uncertainty. Additionally, less money is coming in because the high euro exchange rate deters foreign importers.
AkzoNobel saw its turnover fall by 6 percent in the previous quarter, to over 2.6 billion euros. This was still 2.8 billion euros in the same period last year. Net profit amounted to 124 million euros, compared to 177 million euros a year earlier.
According to the company, the strong euro is the culprit. The euro has risen in value in the past six months, making it more expensive for countries outside the Eurozone to import paint from the Netherlands.
Paint sales are also lagging behind. People in North America, in particular, bought fewer products, which AkzoNobel attributes to global macro-economic uncertainty. China did buy more decorative paint from the Dutch company.
Over the first six months of 2025, turnover fell by 3 percent to over 5.2 billion euros. Worldwide, the paint manufacturer employs approximately 35,000 people, of whom approximately 2,400 are in the Netherlands. In May, AkzoNobel announced it would cut 150 jobs and close two factories, in Wapenveld and Machelen, Belgium.