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
Verdantis Launches MRO360 “The World's First AI-Native Spare Parts Intelligence Platform”8.5.2026 15:40:00 CEST | Press release
MRO360 is the first milestone in Verdantis's journey to deliver the industry's first fully AI-native Enterprise Asset Management solution. Verdantis today announced the global launch of MRO360, a purpose-built AI platform that transforms how asset-intensive organizations manage their MRO spare parts inventory. Designed for manufacturers, oil and gas operators, mining companies, utilities, and other industrial enterprises, MRO360 deploys nine interconnected AI agents that continuously forecast demand, score parts criticality, manage obsolescence risk, calculate dynamic reorder points, helps intercompany plant transfer thereby realizing the exact dollar value of every optimization opportunity across a spare parts catalog in real time. Unlike traditional EAM and CMMS platforms built on static rules, MRO360's agents adapt continuously as demand patterns, supplier performance, and equipment health evolve. For the first time, a maintenance planner can see which work orders are at supply risk
Cyble Positioned as a Challenger in the 2026 Gartner® Magic Quadrant™ for Cyberthreat Intelligence Technologies8.5.2026 15:22:00 CEST | Press release
Cyble today announced it has been recognized as a Challenger in the 2026 Gartner® Magic Quadrant™ for Cyberthreat Intelligence Technologies. The company believes this recognition underscores Cyble’s mission to make threat intelligence truly operational—delivering AI-native capabilities that enable enterprises, government agencies, and MSSPs to shift from reactive security to proactive, intelligence-driven defense. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260508164528/en/ Cyble Named a Challenger in the 2026 Gartner® Magic Quadrant™ for Cyberthreat Intelligence Technologies "Security teams are under constant pressure to respond faster with greater accuracy," said Beenu Arora, Co-Founder and CEO, Cyble. "We believe this recognition highlights our focus on delivering intelligence that drives real outcomes—cutting through noise, accelerating response, and enabling confident decision-making at scale." Intelligence That Acts
WHOOP Expands Health Platform with On-Demand Clinician Access and New AI Features8.5.2026 15:00:00 CEST | Press release
New updates introduce a more personalized, data-driven member experience—bridging the gap between continuous biometrics, real-world context, and clinical insight WHOOP, the human performance company, today announced a new suite of health and AI-driven enhancements and feature updates across the WHOOP memberships, marking a major step forward in its evolution into an intelligent health platform. These updates deepen the company’s commitment to delivering highly personalized, accurate, and actionable insights. They signal the company’s expansion beyond performance optimization into clinical-grade health support. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260508464188/en/ WHOOP Expands Health Platform with On-Demand Clinician Access and New AI Features “WHOOP is a membership, and we take that seriously,” said Ed Baker, Chief Product Officer of WHOOP. “We’re always asking how we can deliver more value to our members, and the
Reply Presents the Jury of the Second Edition of the AI Music Contest: This Year Again, Finalists Will Perform on the NOVA Stage of Kappa FuturFestival in Turin8.5.2026 13:24:00 CEST | Press release
Agoria, Max Cooper, Fleur Shore, Tini Gessler, Ali Demirel, Albi Scotti, Oliver Bohl and Sarah Grimaldi join the jury of the second edition of the competition dedicated to the dialogue between artificial intelligence and live performance. Reply, [EXM, STAR: REY], an international group specialised in the development of new AI-enabled business models and always distinguished by a strong drive for innovation, renews its commitment to creative experimentation with the second edition of the ReplyAI Music Contest. The initiative, organised in collaboration with Kappa FuturFestival—one of Europe’s leading festivals dedicated to electronic music—takes the form of an international competition aimed at creatives and innovators who use AI technologies to explore new ways of integrating sound and image, enhancing the role of artificial intelligence in live performances. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260508361016/en/ Th
CYNREN Launches Next Generation Advisory Firm Serving Family Offices, Funds and Institutions8.5.2026 13:00:00 CEST | Press release
Founded by former partners of KPMG and Citibank with decades of experience guiding businesses, funds and families CYNREN today announced its launch as an independent international advisory firm, built for a world where capital, technology and geopolitics now heavily intersect. Unlike traditional consulting firms, CYNREN combines institutional capability and experience with the agility of a true challenger model to operate at the highest level of advisory and execution. CYNREN was co-founded by Anthony Cowell, Sunil Nair and Scott Lennon, specializing in family office, fiduciary and directorship roles, board-level strategy, impact and philanthropic structuring and complex risk consulting. The firm is partner-led around the moments that matter most, with AI embedded from inception to enable sharper insights and more informed outcomes while remaining grounded in human judgement. Operating globally through a network of senior advisors, investors and partners, CYNREN serves clients across t
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