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
Taiwanese ensembles showcase erhu and ocarina at Prague Folklore Days23.7.2026 11:21:00 EEST | Press release
The Prague Folklore Days 2026 was held on July 17 and 18 in the heart of Prague, bringing together 56 international arts groups from Germany, Austria, Slovakia, Spain, the Netherlands, and Poland. Four Taiwanese groups took part: Hildebrand Yu’s ocarina band, the Shi-xian Huqin Orchestra, the Taipei Folk Orchestra, and the Four Strings Ensemble. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722841530/en/ Taiwanese ensembles showcase erhu and ocarina at Prague Folklore Days Led by Huang Chun-sin, the official Taiwan representative band featured a diverse lineup of ocarina, erhu, and dance performers. Their program stood out among the European groups with its distinctive character and vivid stage presence. Hildebrand Yu’s ocarina band captivated audiences with warm, uplifting melodies accompanied by the ocarina and ukulele. Yu also performed “Twilight Waltz,” delivering a heartfelt piece of poetic expression, like sunlight
Taiwan Children’s Choirs Garner Major Awards at Hungarian Choral Competition23.7.2026 10:33:00 EEST | Press release
Competing against 36 leading contenders from 20 countries, four Taiwanese children’s choirs have garnered several major awards and top honors at the 5th Budapest International Choral Celebration, showcasing Taiwan’s cultural diversity and music excellence. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722613876/en/ Puzangalan Children’s Choir and Yo Wu Wei Children’s Chorus join forces with international choral ensembles and orchestras to perform Mozart’s Requiem Mass in D minor, K. 626 at the Béla Bartók National Concert Hall of Müpa Budapest. With its pure, angelic voices and exceptional vocal techniques, Puzangalan Children’s Choir from Pingtung County won the top prize, Laurea Summa Cum Laude, in the Grand Prix Competition’s Youth Choir of Equal Voices, Folklore, and Sacred Music categories. In the Open Competition, Yo Wu Wei Children’s Chorus claimed three gold prizes in the categories of Youth Choir of Equal Voices
Evotec Selects Navan to Unify Global Travel, Payments, and Expense Management23.7.2026 10:00:00 EEST | Press release
Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced that Evotec (NASDAQ: EVO; Frankfurt Prime Standard: EVT), the global drug discovery and development company, has selected Navan to manage its complete corporate Travel and Expense (T&E) program in its top global markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722261092/en/ Global drug discovery leader partners with Navan to drive operational excellence and eliminate manual expense reporting A life science company that is pioneering the future of drug discovery and development, Evotec had historically managed T&E independently across different countries, meaning employees were dealing with a patchwork of different tools and manual offline processes. As part of its focus on operational excellence, Evotec is further streamlining these processes through one unified, easy-to-use platform that supports consistency, transpar
Freedom Holding Corp. Works With Ant International’s Antom to Simplify Online Shopping From China for Kazakhstan Consumers23.7.2026 08:30:00 EEST | Press release
On July 16, 2026, during a meeting between Timur Turlov, CEO of Freedom Holding Corp., and representatives of the global fintech market, the bank signed Memoranda of Understanding with Antom, a leading merchant payment and digitisation services provider under Ant International. The primary goal of this partnership is to develop innovative solutions to facilitate cross-border payments for consumers in Kazakhstan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722367119/en/ From left to right: Timur Turlov, CEO of Freedom Holding Corp., Leiming Chen, Senior Vice President and Chief Sustainability Officer of Ant International Antom will promote Freedom Bank SuperApp as a supported payment option on China’s leading e-commerce platforms. This move aims to create a seamless cross-border online shopping experience, allowing consumers in Kazakhstan to shop for Chinese goods and global brands using their preferred local payment me
Galderma Reports Record First Half 2026 Net Sales of 3.134 Billion USD and 24.6% Year-on-Year Growth at Constant Currency, Raises Net Sales Guidance for the Full Year23.7.2026 08:00:00 EEST | Press release
Galderma Group AG (SIX: GALD), the pure-play dermatology category leader, today announced its financial results for the first half of 2026. Net sales reached 3.134 billion USD, surpassing 3 billion USD for the first time in the first six months of the year and representing net sales growth of 24.6% at constant currency1. Broad-based, double-digit growth in both International markets and the U.S. as well as in all product categories, primarily driven by volume and complemented by favorable mix. Outperforming the market in each product category, with net sales growth year-on-year at constant currency of 12.1% in Injectable Aesthetics, 16.4% in Dermatological Skincare, and 67.9% in Therapeutic Dermatology. Demonstrating leadership in dermatology through ongoing geographic expansion and differentiated innovation, including Nemluvio® (nemolizumab), which generated 433 million USD in net sales, Relfydess™ (RelabotulinumtoxinA), which continues to ramp-up with approvals in 33 International ma
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