Planned sustained growth driven by cultural transformation, operational excellence, optimized portfolio strategy, sustainable innovation, and effective capital allocation

PHILADELPHIA, May 15, 2024 (GLOBE NEWSWIRE) -- Axalta Coating Systems (NYSE: AXTA) ("Axalta"), a leading global coatings company, today will present its three-year plan (2026 A-Plan) during a Strategy Day that is being held at the company's Global Innovation Center. The event and presentation will be available through a live webcast and replay at ir.axalta.com.

During the event, Axalta will detail its plans to create value by executing the 2026 A-Plan, which focuses on five growth tenets: cultural transformation, operational excellence, optimized portfolio strategy, sustainable innovation, and effective capital allocation. The plan aims to accelerate performance as the company targets a number of milestones for 2026, including $500 million in net sales growth and greater than 60 percent Adjusted Diluted EPS growth compared to 2023, along with adjusted EBITDA margins that exceed 21 percent.

"This is an exciting time for Axalta and its shareholders," said Chris Villavarayan, Axalta Chief Executive Officer and President. "We have delivered significant accomplishments to date, but we are certainly not done. Meaningful changes are already underway, and during today's event we will showcase our strategy to accelerate our performance over the next three years. I am confident that our plan will enable us to maintain our momentum in the overall transformation of our business."

About Axalta Coating Systems

Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful, and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity, and enhance durability. With more than 150 years of experience in the coatings industry, the global team at Axalta continues to find ways to serve our more than 100,000 customers in over 140 countries better every day with the finest coatings, application systems and technology. For more information, visit axalta.com and follow us on LinkedIn and @axalta on X.

Cautionary Statement Concerning Forward-Looking Statements

This release may contain certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 regarding Axalta and its subsidiaries including, but not limited to, certain of the targets under Axalta's 2026 A-Plan, including net sales growth, Adjusted Diluted EPS growth and Adjusted EBITDA margin. Axalta has identified some of these forward-looking statements with words such as "planned," "plan," "will," "aims," "targets," and "strategy" and other comparable or similar terminology. All of these statements are based on management's expectations as well as estimates and assumptions prepared by management that, although they believe to be reasonable, are inherently uncertain. These statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of Axalta's control, as well as risks related to the execution of the 2024 Transformation Initiative (as defined in Axalta's Quarterly Report on Form 10-Q filed on May 1, 2024), Axalta's 2026 A-Plan and Axalta's acquisition of The CoverFlexx Group, that may cause its business, industry, strategy, financing activities or actual results to differ materially. More information on potential factors that could affect Axalta's financial results is available in "Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" within Axalta's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and in other documents that we have filed with, or furnished to, the SEC. Axalta undertakes no obligation to update or revise any of the forward-looking statements contained herein, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

This release contains references to certain financial measures that are not presented in accordance with generally accepted accounting principles in the United States ("GAAP"). The company's Strategy Day presentation to be posted to ir.axalta.com contains details regarding the company's use of these and other non-GAAP financial measures.