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
Quectel Launches FCE870X and FME170X Tri-band Wi-Fi 7 Modules With Bluetooth 6.0 for Set-top Boxes, Gaming Devices and More30.7.2026 10:00:00 CEST | Press release
Quectel Wireless Solutions, a global end-to-end IoT solutions provider, today announces the FCE870X and FME170X tri-band Wi-Fi 7 modules, powered by the Synaptics SYN4384 chipset and designed for set-top boxes, gaming devices, digital signage, VR/AR headsets, smart gateways and other high-performance connected products. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260730986067/en/ Quectel launches FCE870X and FME170X tri-band Wi-Fi 7 modules with Bluetooth 6.0 for set-top boxes, gaming devices and more The FCE870X and FME170X share the same high-end feature set and differ only in form factor. The FCE870X Wi-Fi 7 module uses a Compact LCC package for embedded designs, while the FME170X Wi-Fi 7 module uses a Compact M.2 package for modular, slot-based systems. Device makers can choose the option that best fits their platform without compromising wireless performance. “These high-end Wi-Fi 7 modules are engineered to run acro
Singapore Selects Thales for Next-generation AI-powered Air Traffic Management System Serving One of Asia’s Busiest Airspaces30.7.2026 10:00:00 CEST | Press release
To address the rapid growth in air traffic, the Civil Aviation Authority of Singapore (CAAS) has selected Thales to develop Singapore’s NexGen Air Traffic Management System (ATMS) and air traffic control radars. Scheduled to enter operational service by 2030, the NexGen ATMS will enable air traffic controllers to provide air traffic control services safely and efficiently, handling up to one million aircraft movements annually. Powered by advanced cybersecurity and Artificial Intelligence technologies, the NexGen ATMS provides an integrated, highly automated environment that enhances controller decision-making, increases operational efficiency, and further strengthens flight safety. The Civil Aviation Authority of Singapore (CAAS) has awarded Thales a landmark contract to develop a new NexGen Air Traffic Management System (ATMS) and air traffic control radars, marking a major step towards a more efficient, safer and more sustainable aviation ecosystem. The NexGen ATMS will replace the
Western Europe’s Fashion E-commerce Market Matures, Representing 20% of Online Consumer Spending as Gen Z Drives momentum30.7.2026 09:00:00 CEST | Press release
Second-hand platforms and value-focused retailers are disrupting Western Europe’s fashion market, which accounts for nearly one-fifth of online spending Fashion remains one of the largest and most resilient categories in Western European e-commerce, accounting for approximately 20% of online consumer spending across key markets, according to the latest NIQ (NYSE: NIQ) report, Decoding the Fashion E-commerce European Market in 2026. The study analyzes the behaviour of more than 2 million online shoppers across 10 European countries, providing one of the most comprehensive views of the region’s online fashion landscape. While fashion continues to play a central role in e-commerce, the category is entering a new phase of maturity. Across Europe, total e-commerce sales grew by 5% over the past year, compared with 3% growth for online fashion sales, highlighting the need for brands and retailers to find new avenues for growth. Key findings of the report: Fashion remains a core e-commerce ca
Takeda Announces FY2026 First Quarter Results, Near-Term Launch Preparations and Pipeline Progress on Track30.7.2026 08:37:00 CEST | Press release
Solid first quarter performance broadly in line with guidance, underpinned by resilient demand across core in-line brandsCommercial execution and late-stage pipeline investments on schedule, including first approval for ORZEYFULTM (oveporexton) in China, setting the foundation for next wave of medicinesNo change to FY2026 full-year forecast and management guidance Takeda (TOKYO:4502/NYSE:TAK) announced financial results for the first quarter of fiscal year 2026 (April 1, 2026 to June 30, 2026), marking a period of disciplined execution and operational momentum. Takeda leveraged the resilient performance of its core in-line portfolio to support its long-term strategy, advancing commercial launch preparations and driving critical R&D pipeline milestones. With a clear operational trajectory established in the first quarter and under a new operating model, Takeda remains on track to deliver its strategic and financial commitments for the fiscal year. FY2026 First Quarter Highlights Revenue
Coulson Aviation Introduces CFR HALO, a Long-Term Fire Retardant Engineered for Modern Aerial Firefighting30.7.2026 08:03:00 CEST | Press release
First Coulson EmberWorks product is undergoing qualification in France and evaluation for inclusion on the USDA Forest Service Qualified Products List Coulson Aviation today introduced CFR HALO, a next-generation long-term fire retardant engineered specifically for modern aircraft, tank systems, and wildfire missions. It is the first product from Coulson EmberWorks, the company’s research and development division dedicated to advancing aerial firefighting technologies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260729960073/en/ Coulson Aviation has introduced CFR HALO, a next-generation long-term fire retardant engineered specifically for modern aircraft, tank systems and wildfire missions. It is designed with mission-optimized viscosity and flow characteristics to improve drop cohesion, reduce airborne drift, and support more accurate placement within the intended target area. CFR HALO is currently advancing through ind
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