The present invention provides a powder coating composition comprising A) 30 to 90 wt % of at least one glycidyl-functionalized (meth)acrylic resin, B) 30 to 90 wt % of at least one carboxyl functionalized polyurethane resin, C) 0.01 to 10 wt % of at least one wax, and D) 0.05 to 30 wt % of at least one coating additive, and optionally pigment and/or filler, the wt % based on the total weight of the powder coating composition; the powder coating composition provides coatings with a very low gloss level (highly matt finish) and smoothness, a superior durability against aggressive substances and a very good adhesion on metallic substrates.