JOTUN
13.2.2020 17:02:14 CET | Business Wire | Press release
Jotun achieved a new sales record of NOK 19,652 million in 2019. An operating profit of NOK 2,320 million is also Jotun’s best result ever.
Jotun’s sales growth of 11 per cent in 2019 was achieved by strong improvement in the Marine and Protective Coatings segments and continued good growth in the Decorative Paints segment. Sales of powder coatings also increased, but was affected by low activity in key markets. Adjusted for positive currency translation effects, sales growth was seven per cent.
“2019 was a good year for Jotun with growth in all regions and segments, and we deliver the best results ever. Over the past few years, Jotun has been affected by low market activity in the offshore and shipbuilding markets. These conditions have turned in our favour, and have a positive impact on Jotun’s results”, says Morten Fon, President and CEO.
Operating profit is up 71 per cent compared to last year, mainly due to increased sales and improved margins. Good cost control and a weaker Norwegian krone also contributed to the good result in 2019.
Investing in further growth
Jotun invested NOK 1,464 million in 2019 (2018: 1,089 million), representing about seven per cent of operating revenue. Among the largest investments are the Group's new headquarters and research and development centre in Norway, and new factories in Egypt and Vietnam. Jotun expects continued sales growth in 2020, but escalating trade tensions and geopolitical pressures as well as lower prospects for global growth create uncertainty.
“In the shipping industry, newbuilding activity appear to decline somewhat during 2020, which may affect Jotun's results going forward,” says Fon. “However, as Jotun operates in multiple segments and has a global presence, we are well equipped to tackle challenges in individual segments and markets.”
2019 highlights:
- Record high sales and result
- Sales growth in all segments and all regions
- Investment growth and investments in Norway, Egypt and Vietnam
|
|||
Key financial figures (NOK million) |
2019 |
2018 |
Change |
Operating revenue |
19,652 |
17,660 |
11 % |
Operating profit |
2,320 |
1,361 |
71 % |
Result before taxes |
2,079 |
1,115 |
86 % |
View source version on businesswire.com: https://www.businesswire.com/news/home/20200213005555/en/
Link:
About Business Wire
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
FDA Approves PIMJETMI® (pimicotinib) for Patients with Tenosynovial Giant Cell Tumor10.11.2026 19:14:00 CET | Press release
PIMJETMI is a new once-daily oral systemic treatment option for certain U.S. patients with symptomatic tenosynovial giant cell tumor (TGCT)In the Phase 3 MANEUVER trial, PIMJETMI demonstrated early1 and durable2 tumor response with clinically meaningful improvements in all clinical outcome assessments, including physical function and painPIMJETMI has shown high objective response rate (ORR) with a manageable safety profileNot intended for Canada-, UK- or US-based media Merck, a leading science and technology company, announced today that the U.S. Food and Drug Administration (FDA) has approved PIMJETMI® (pimicotinib), a once-daily oral colony stimulating factor-1 receptor (CSF-1R) inhibitor, as a systemic treatment for adults with symptomatic tenosynovial giant cell tumor (TGCT) for which surgical resection may cause worsening functional limitation or severe morbidity. “People living with TGCT have long faced difficult treatment decisions as they navigate a disease that can significant
Smartsheet Integrates With Claude Sheets, Making It Easy to Start Projects in Claude and Launch Workflows Across Teams with Smartsheet10.11.2026 18:57:00 CET | Press release
New Send to Smartsheet feature moves work started in Claude into Smartsheet, where the Execution Graph connects it to the people, plans and goals that see it through Smartsheet, the AI-powered enterprise work management platform, today announced a new integration with Claude Sheets, the new spreadsheet artifact in Claude from Anthropic, now in beta. With the new Send to Smartsheet feature, people who build a tracker or plan in Claude can move it into Smartsheet in a few clicks. There they can put it to work with their team, connected to the plans, projects, people and systems their organization already runs on. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110763156/en/ With the new Send to Smartsheet feature, people who build a tracker or plan in Claude can move it into Smartsheet in a few clicks. More and more work now begins in a conversation with Claude, and the Smartsheet MCP connector for Claude puts the entire pow
InterSystems Joins Google Cloud as Launch Partner for Gemini for Healthcare10.11.2026 18:00:00 CET | Press release
Integration with InterSystems IRIS FHIR MCP will help healthcare organizations securely connect Gemini to trusted, standards-based health data InterSystems, a creative data technology provider powering more than one billion health records globally, today announced that it will serve as a launch partner for Google Cloud’s Gemini for healthcare. Through the collaboration, Gemini for healthcare will connect to the InterSystems IRIS FHIR Model Context Protocol (MCP) server, enabling healthcare organizations to give AI assistants and agents governed access to FHIR data. The integration will bring together Google Cloud’s Gemini capabilities and the standards-based data access provided by InterSystems IRIS FHIR MCP. InterSystems FHIR MCP serves the open Model Context Protocol directly from a FHIR endpoint, allowing MCP-enabled clients to discover and use FHIR tools for searching, reading, creating, updating, and managing healthcare data. “Healthcare organizations are looking for practical way
Coherent Solutions Launches AKTIV, a Dedicated Fitness and Wellness Technology Business Unit10.11.2026 16:34:00 CET | Press release
Coherent Solutions officially launches AKTIV, a dedicated business unit focused exclusively on fitness and wellness technology. AKTIV brings together over 15 years of fitness industry experience, dedicated leadership, and global engineering capabilities to help fitness and wellness operators and equipment manufacturers compete through technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110242555/en/ Coherent Solutions officially launches AKTIV “We know the fitness and wellness industry and the challenges operators and manufacturers face. With AKTIV, we spend less time defining what needs to be built and more time delivering solutions that improve operations, member experiences, and business performance,” said Vadim Bartlov, Managing Director of AKTIV. AKTIV builds on Coherent Solutions' established work with leading fitness companies, including Life Time, Planet Fitness, Anytime Fitness, Orangetheory, and BowFlex,
Mouser Explores the Newest Computing Technologies Beyond Moore's Law in its Technology Series10.11.2026 16:12:00 CET | Press release
Mouser Electronics, Inc., the authorized global distributor with the newest electronic components and industrial automation products, today announced the latest installment of its Empowering Innovation Together (EIT) technology series, Moving Beyond Moore's Law. The series explores how engineers are advancing computing performance as traditional semiconductor scaling approaches its physical limits, from chiplets and advanced packaging to silicon photonics and emerging transistor technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261006980414/en/ Explore what comes after Moore's Law as the industry seeks new paths to computing performance. As a key driver of semiconductor advancement, Moore's Law has served as a roadmap for the industry, describing the trend of transistor counts on integrated circuits doubling approximately every two years. With conventional silicon transistors becoming increasingly difficult to shr
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