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
DCO Concludes LEAP 2026 with Partnerships and Digital Cooperation Milestones7.9.2026 21:48:00 CEST | Press release
The Digital Cooperation Organization (DCO) concluded its participation at LEAP 2026, during which the State of Palestine signed the DCO Charter, becoming a Signatory Member, and unveiled the Digital Prosperity Plan 2026–2028, co-developed with DCO to advance digital infrastructure and AI readiness, digital government, skills, startups, and SMEs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260907201316/en/ DCO Concludes LEAP 2026 with Partnerships and Digital Cooperation Milestones (Photo: AETOSWire) The signing followed the DCO Council’s earlier approval of eight candidate countries. Upon completion of accession procedures, DCO will expand from 16 to 24 Member States, representing approximately 980 million people and paving the way for a billion-strong voice for digital cooperation. Tajikistan is also on track to join the organization as an Associate Member, opening new opportunities to strengthen digital cooperation, acc
LR Health & Beauty Strengthens Its Management Team With Martin Lipp as New Chief Financial Officer (CFO)7.9.2026 15:36:00 CEST | Press release
The LR Health & Beauty GmbH, Europe’s leading social commerce company for high-quality nutritional supplements and beauty products, is strengthening its management team: effective 7 September 2026, Martin Lipp takes over as Chief Financial Officer (CFO) and joins the Executive Management Team. In his new role, Martin Lipp will be responsible for Global Controlling & Finance, Legal, IT and Operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260907262360/en/ Martin Lipp, new CFO of the LR Group “With Martin Lipp, we are gaining a highly experienced international finance executive with extensive expertise in managing and transforming businesses. During the current transition phase, he will enrich the senior management in particular with his strong transformation expertise and excellent know-how in the areas of finance, operations and IT. Together, we will consistently drive forward the implementation of our strategy with
Capcom’s Onimusha: Way of the Sword Sells Over 1 Million Units on Launch Day!7.9.2026 15:00:00 CEST | Press release
– Total series sales surpass 10 million units driven by this first new title in 20 years – Capcom Co., Ltd. (TOKYO:9697) today announced that worldwide sales of Onimusha: Way of the Sword, the latest title in the series, have surpassed 1 million units on the first day of its release. Driven by the performance of this title, cumulative sales of the Onimusha series have now surpassed 10 million units. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260907554827/en/ Onimusha: Way of the Sword key art Onimusha: Way of the Sword, which marks the first new title in the series in over 20 years, is a swordplay action game featuring protagonist Miyamoto Musashi that is set in Edo-era Kyoto. This title enhances the exhilarating sword-based action of the series with cutting-edge technology while also providing a compelling story and beautiful visual depictions. In addition, through several marketing initiatives prior to launch, such as
A2RL Sets New International Benchmark with Europe’s First Five-Car Autonomous Race7.9.2026 14:16:00 CEST | Press release
UAE team Kinetiz wins A2RL’s first race outside of Abu Dhabi during ACI Racing Weekend hosted on Imola’s iconic Autodromo Internazionale Enzo e Dino FerrariWatch the race HERE. The Abu Dhabi Autonomous Racing League (A2RL) completed the first-ever multi-car autonomous race in Europe at the Imola Circuit in Italy on 5 September 2026, as part of ACI Racing Weekend. Kinetiz (UAE) won the League’s inaugural international race, across 12 laps of one of the most technically demanding circuits in world motorsport. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260907943650/en/ A2RL Sets New International Benchmark with Europe’s First Five-Car Autonomous Race (Photo: AETOSWire) Organised by ASPIRE, the grand challenges arm of Abu Dhabi’s Advanced Technology Research Council (ATRC), A2RL brings together key players across Abu Dhabi’s autonomous mobility ecosystem, with strategic oversight from the Smart and Autonomous Systems Council
Dubai Chambers to Train 14,000 Private Sector Companies in Agentic AI7.9.2026 12:15:00 CEST | Press release
Dubai Chambers has launched specialised Agentic AI training for more than 14,000 private sector companies, helping businesses build the skills needed to adopt the technology across their operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260907193930/en/ H.E. Eng. Sultan bin Saeed Al Mansoori speaking during the launch of the training programme (Photo: AETOSWire) The training forms part of Dubai’s wider programme to transition the private sector towards Agentic AI, launched under the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai. Delivered through the new Dubai Chambers Academy, an integrated e-learning platform, the training provides practical guidance on applying Agentic AI in business. Participants will explore tools and solutions that can improve operations, effici
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