SANDEFJORD, Noorwegen–(BUSINESS WIRE)– Jotun heeft tot nu toe zowel de bedrijfsopbrengsten als de bedrijfswinst verhoogd. De operationele marge werd echter op de proef gesteld door hoge grondstofprijzen en aanzienlijke wereldwijde onrust.

Marktstatus

Het hogere verkoopvolume en de hogere prijzen leidden tot een sterke omzetgroei voor Jotun tijdens het eerste en tweede tertiair 2022. De bedrijfsopbrengsten kwamen uit op 18 243 miljoen NOK, een stijging van 22 procent ten opzichte van dezelfde periode vorig jaar. Alle segmenten (Decorative Paints, Protective Coatings, Marine Coatings en Powder Coatings) boekten een omzetgroei met dubbele cijfers. “We zijn tevreden over de ontwikkeling. Het is mooi om te zien dat de maritieme nieuwbouwmarkt zich heeft hersteld na een moeilijke periode. We zien ook een verbetering van de verkoop binnen scheepsonderhoudsproducten, beschermende coatings en decoratieve verven”, zegt Morten Fon, president en CEO.

Strong growth, but lower margins for Jotun

SANDEFJORD, Norway–(BUSINESS WIRE)– Jotun increased both operating revenue and operating profit year to date. However, the operating margin was challenged by high raw material prices and significant global unrest.

Market status

Increased sales volume and prices led to strong topline growth for Jotun during the first and second tertiary 2022. Operating revenue came in at NOK 18 243 million, up 22 per cent from the same period last year. All segments (Decorative Paints, Protective Coatings, Marine Coatings and Powder Coatings) delivered double-digit sales growth. “We are satisfied with the development. It is great to see that the marine newbuilding market has recovered after a difficult period. We also see sales improving within ship maintenance products, protective coatings and decorative paints,” President & CEO Morten Fon says.

Global challenges

The positive development comes in a time of major global challenges. The war in Ukraine is affecting the raw material markets and creating an energy crisis in Europe. In addition, there are persistent challenges in global supply chains. “The geopolitical imbalance puts international trade under pressure. However, our people throughout the world have handled the demanding situation well,” Fon says. Consequently, costs have increased. Even though Jotun’s operating profit rose to NOK 2 653 million, the operating margin came in below the level seen last year.

Outlook

Going forward, Jotun expects continued sales growth. The high raw material prices will still be a challenge. However, there are signs that raw material prices have now peaked and started to ease. In addition, challenges related to the war in Ukraine, the energy crisis, the global supply chain issues, and the Covid-19 pandemic persist. “The world around us is characterised by unrest and uncertainty. However, our organisation is robust and intact, and we are ready for continued growth,” Fon says. Jotun is well-positioned for further profitable growth, and the company remains committed to its long-term growth strategy and investment plans.

Key financials

View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005926/en/

Contacts

For more information

Morten Fon, President & CEO, +47 909 19 822, morten.fon@jotun.no

Henrik Sandvik, Group Communications Manager, +47 990 23 031, henrik.sandvik@jotun.no