Eventful Year for Jotun
14.2.2023 23:00:00 EET | Business Wire | Press release
Jotun navigated well through a demanding 2022. Operating revenue came in at NOK 27 858 million and operating profit ended at NOK 3 737 million.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230214005660/en/
Jotun - Morten Fon (Photo: Business Wire)
Operating revenue is up from NOK 22 809 million in 2021, driven by growth in all segments. Marine Coatings made a particularly positive contribution, due to a growing newbuilding market as well as a strong maintenance market. Within Protective Coatings, Jotun also delivered solid sales growth. Decorative Paints achieved strong growth in the Middle East and Southeast Asia, which compensated for lower sales in Scandinavia.
Challenging year
The operating result increased by 19 per cent compared to the previous year. The improvement is mainly explained by volume growth, price increases and good cost control. Currency effects due to a weaker Norwegian krone also contributed positively.
- 2022 was a challenging and eventful year for Jotun. Despite everything happening around us, we gained market shares in a number of markets. Strong growth, competent employees and good cost control ensured new all-time high sales and the best result in the company's history, says President and CEO Morten Fon.
Investments
Jotun’s positive development came in a year with several global challenges, such as the war in Ukraine, Covid effects, energy crisis in Europe, inflation, and turbulent raw material and logistics markets.
Still, Jotun maintains its investment plan. During 2022, the company opened new factories in Qatar, Pakistan and Bangladesh. At the same time, a new regional head office and research and development centre in Dubai was completed. Upgrades were also carried out at the production facilities in Sandefjord, Norway.
Outlook
With operations in four segments and on all continents, Jotun is exposed to macroeconomic and geopolitical uncertainties worldwide. The start of the new year is also characterized by unrest and uncertainty. After a long period of strong growth, raw material prices fell somewhat through the second half of 2022, but prices are still at a high level.
- There are many factors that can affect the paint industry going forward, but Jotun has good momentum going into 2023. We have a robust organisation with a strong corporate culture, and are well positioned for further profitable growth, says Fon.
Key financials
|
(NOK mill) |
2022 |
2021 |
Change |
|
Operating revenue |
27 858 |
22 809 |
22 % |
|
Operating profit |
3 737 |
3 138 |
19 % |
|
Profit before tax |
3 191 |
2 890 |
10 % |
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005660/en/
Contact information
For more information
Morten Fon, President & CEO, +47 909 19 822, morten.fon@jotun.no
Åsne Vittersø Kvamme, Group Communications Director, +47 992 44 648, asne.vitterso.kvamme@jotun.no
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Multiple Industry Honors Reinforce CSG/Netcracker Leadership in Customer Journey Orchestration and AI Innovation24.9.2026 18:05:00 EEST | Press release
The next phase of customer experience hinges on how well brands turn customer data into relevant communications, real-time action, and responsible, proven AI use. CSG® and Netcracker Technology today announced that CSG has been named a Leader in The Forrester Wave™: Customer Journey Orchestration Platforms, Q3 2026, with the highest possible scores in 19 of 23 Forrester Wave™ criteria. CSG Xponent, a best-in-class customer engagement platform, helps brands land timelier, more relevant communications that drive customer action, secure loyalty, and bolster measurable business results. The Forrester Wave™: Customer Journey Orchestration Platforms states that, “CSG earns superior scores across the core journey intelligence and orchestration capabilities that define this market. Its excellent journey simulation, predictive intelligence, and decisioning capabilities help organizations evaluate likely outcomes before introducing changes into live journeys, improving decision confidence and re
Vasion Ⓡ Enhances Global Partner Program to Accelerate AI-Powered Automation24.9.2026 17:05:00 EEST | Press release
VasionⓇ, the Intelligent Print Automation platform trusted by more than 14,000 organizations worldwide, today unveiled a comprehensive refresh of its Global Partner Program. The program delivers the resources partners expect from Vasion: always-on incentives, structured onboarding, elevated enablement, and a rebuilt portal experience, all engineered to help partners scale, compete, and deliver stronger customer outcomes as agentic AI reshapes how enterprises automate work. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924791639/en/ Agentic print and document workflow environments remain an overlooked channel opportunity, as enterprises race toward agentic automation. IDC forecasts that by 2026, 40% of all Global 2000 job roles will involve working with AI agents, redefining long-held traditional entry-level, mid-level, and senior-level positions [1]. IDC's research points to this new class of AI reshaping not just how fa
The Only AI Crypto Lead Prioritization Solution Built With Law Enforcement, for Law Enforcement: Elliptic Launches Pulse24.9.2026 16:15:00 EEST | Press release
Elliptic, the global leader in on-chain risk, today launched Pulse. Pulse puts crypto lead prioritization directly in the hands of every frontline law enforcement and government officer. Crypto now touches every part of law enforcement, from the patrol officer on the street to the detective assigned to investigate the case. Pulse gives each of them a quick, accurate financial summary and a starting point: whether that's a crypto address on a suspect's phone, in a scam ATM victim's receipt, uncovered during a vehicle or pocket search, or found at the scene of an overdose, an arrest, or a seizure. An officer can input anything that looks like a wallet address or transaction hash. Pulse identifies it, reasons over the result, and returns a summary in plain language, enough for the officer to decide on the spot whether the case needs escalation. If a case needs further investigation, one click sends the full analysis forward, not just the evidence. The criminal investigations division gets
SymphonyAI Introduces Symphony Risk Intelligence, an Agent-native Platform That Unlocks Always-on Compliance™ — the Catalyst for Transforming the Financial Crime Operating Model24.9.2026 16:04:00 EEST | Press release
SymphonyAI today introduced Symphony Risk Intelligence (SRI), an enterprise-grade, agent-native platform built to unlock Always-on Compliance™. This is a critical shift from periodic to continuous risk and compliance management, in which institutions continuously reassess risk and adapt controls as regulations, threats and business activity change, rather than waiting for the next scheduled review. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924914614/en/ Current approaches have reached their structural limits. The FinCrime Frontier 2026–27 Report, released recently by SymphonyAI and AML Intelligence, finds just 4.7% of financial institutions continuously update their compliance monitoring and controls as risk changes, and 76.3% still review alerts manually or with only partial automation — barely changed year over year. Yet standing still isn't an option: the regulatory climate is at a major inflection point across ev
Just 4.7% of Financial Institutions Continuously Update Their Compliance Monitoring and Controls as Risk Changes, New Research Finds24.9.2026 16:04:00 EEST | Press release
SymphonyAI, a global leader in vertical AI product platforms, and AML Intelligence, the leading source of news and insight for the financial crime compliance community, today released the FinCrime Frontier 2026–27 Report, finding that most financial institutions still rely on periodic review cycles to manage financial crime risk, even as the threats and regulations they are meant to track continue to evolve dynamically. Based on the perspectives of more than 200 financial crime and compliance leaders, including senior leaders from major global financial institutions, the research finds that just 4.7% of financial institutions continuously update their compliance monitoring and controls as risk changes, while 56.8% have not adopted always-on compliance monitoring at all, are only exploring it, or remain at an early, pilot-stage level. The finding points to a structural gap: financial crime typologies, payment ecosystems and regulatory expectations are evolving continuously, while most c
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom