JOTUN
18.2.2021 21:02:09 CET | Business Wire | Press release
Jotun recorded sales of NOK 21,070 million in 2020, an increase of seven per cent compared to the previous year. Operating profit ended at NOK 3,489 million in a year that was strongly affected by the coronavirus pandemic.
The pandemic had a negative impact on sales in all segments in 2020 and adjusted for currency effects as a result of a weaker Norwegian krone, underlying sales growth was three per cent. The growth was primarily achieved by good growth in sales of decorative paints.
According to CEO Morten Fon, the impact of the coronavirus pandemic on Jotun’s business in 2020 varied from region to region. “We have experienced a decline in sales in South East Asia and low growth in the Middle East but recorded strong sales growth in important markets such as Scandinavia, Turkey and Saudi Arabia,” he says. “Throughout this period, Jotun has focused on business continuity measures and avoided laying off employees, helping the company to operate successfully and retain a highly skilled and experienced workforce.”
Operating profit is up by 50 per cent compared to 2019. The increase is mainly explained by improved margins, good cost control and positive currency translation effects.
Investments
Jotun invested NOK 1,407 million in 2020, which accounts for about seven per cent of sales and is in line with strategic ambitions. The largest investments were related to new production facilities in Vietnam and Egypt, factory upgrades in Norway and the Czech Republic, a new regional office and research and development (R&D) centre in Dubai and completion of the Group's new headquarters and R&D centre in Norway.
Future outlook
Looking ahead, Jotun anticipates lower activity in shipping and a weaker oil and gas market. In addition, raw materials costs, which began to rise towards the end of last year, are expected to continue to increase. Finally, market uncertainties related to the coronavirus pandemic are likely to persist in 2021.
"While we have realistic expectations for 2021, Jotun’s robust business model has proven very resilient in a challenging year,” says Fon. “With operations across four segments, a global presence and a strong corporate culture we are confident that Jotun will achieve further profitable growth in the years to come."
Key figures (NOK million) |
2020 |
2019 |
Change |
Operating revenue |
21,070 |
19,652 |
7 % |
Operating profit |
3,489 |
2,320 |
50 % |
Profit before tax |
3,158 |
2,079 |
52 % |
View source version on businesswire.com: https://www.businesswire.com/news/home/20210218005881/en/
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
Andersen Consulting udvider sine kompetencer inden for ledelsesrekruttering med Lansdowne Executive Search18.2.2026 17:08:00 CET | Pressemeddelelse
Andersen Consulting styrker sin humancapital-praksis gennem en samarbejdsaftale med Lansdowne Executive Search, der er en Dublin-baseret virksomhed med speciale i lederrekruttering, midlertidige ledelser og bestyrelsesudnævnelser. Lansdowne Executive Search er en irisk-ejet virksomhed, der blev grundlagt i 2015, og som tilbyder C-level-ledelsesekruttering, deltidsledere og bestyrelsesplaceringer. Som en partnerdrevet boutique-virksomhed er Lansdowne kendt for, at seniorledelsen er tæt involveret i alle kundeprojekter. Virksomheden hjælper kunder med at navigere i komplekse ledelsesovergange og vækststrategier på tværs af en bred vifte af sektorer, herunder finans, byggeindustrien, nonprofit, landbrug, videregående uddannelse, den offentlige sektor samt teknologi, medier og telekommunikation. "God ledelse er afhænger af situationen, og det kræver forståelse af langt mere end blot et CV," sagde Tom Keane, der er partner hos Lansdowne Executive Search. "Samarbejdet med Andersen Consulting
Andersen Global styrker sin platform for global mobilitet med nyt medlemsfirma18.2.2026 17:01:00 CET | Pressemeddelelse
Andersen Global styrker sin tilstedeværelse i Schweiz med tilføjelsen af medlemsfirmaet Exactio, hvilket øger organisationens globale mobilitetskapacitet og yderligere forbedrer dens integrerede, tværfaglige model for professionelle ydelser. Exactio tilbyder specialiseret rådgivning og compliance-løsninger inden for global mobilitet til multinationale virksomheder og internationalt mobile personer. Firmaets erfarne team rådgiver om schweiziske og internationale skatteforhold, social sikring, pension, lønadministration og immigration, og det hjælper organisationer med at navigere i komplekse arbejdsgiverforpligtelser og sikrer samtidig en gnidningsfri og lovmedholdelig tilgang til global mobilitet. Exactio stræber efter at forstå hver enkelt klients unikke behov og levere hurtige, praktiske løsninger gennem en personlig og menneskelig tilgang i ethvert samarbejde. "Hos Exactio forpligter vi os til at levere personlige, praktiske og rettidige løsninger, der gør det muligt for vores kunde
Perpetual Atomics Ltd, QSA Europe, QSA Global and Reef Origin to Collaborate on Building Radioisotope Power Systems in Europe18.2.2026 16:44:00 CET | Press release
Perpetual Atomics Ltd, QSA Europe (a trading name of Loma Systems s.r.o.), QSA Global, Inc., and Reef Origin signed an MOU in Prague to collaborate on the industrialized production of radioisotope power systems in Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260218036211/en/ Teams from Perpetual Atomics & QSA Global (USA and Czechia) at the facilities in Czechia This MOU builds on the existing collaboration between QSA Global, Inc. and Perpetual Atomics Ltd by expanding and strengthening the capacity and capability to produce radioisotope power systems in Europe. The key partnership with QSA Europe provides access to existing facilities, capabilities, knowledge, and know-how for the storage, handling, and distribution of commercial radioisotope systems for terrestrial applications. This capability is directly transferable to radioisotope power technologies for space. Radioisotope and nuclear power technologies are
Safe Software Launches FME Flow Availability in AWS Marketplace18.2.2026 15:00:00 CET | Press release
Today, Safe Software, the creator of FME, the All-Data, Any-AI enterprise integration platform with true support for spatial data, announced that FME Flow is now available in AWS Marketplace, which helps organizations easily discover, try, test, buy, deploy and manage thousands of software solutions, including pre-built AI agents and ready-to-integrate tools, all in one convenient destination. Amazon Web Services (AWS) customers can now purchase FME Flow directly within AWS Marketplace, simplifying billing and procurement and providing faster access to Safe Software’s enterprise-grade data automation capabilities. Safe Software’s FME connects all data across data velocities, locations, and types. FME Flow delivers many data workflow services to enterprise users. Availability in AWS Marketplace allows organizations to streamline the purchase and management of FME Flow directly within their AWS Marketplace account. “As the data landscape becomes increasingly complex and distributed, flex
Cubic Corporation Optimizes SAP Support with Rimini Street to Accelerate Modernization18.2.2026 15:00:00 CET | Press release
Adopting a composable ERP strategy with the support of Rimini Street, Cubic maintains SAP ECC as a stable core while pursuing modernization and automation initiatives across its broader application landscape — without the need for costly, disruptive upgrades Rimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company™, and the leading third-party support provider for Oracle, SAP and VMware software, today announced Cubic Corporation, innovation technology provider for the defense and transportation industry, has partnered with Rimini Street to support its strategy to modernize while maintaining SAP ECC as a stable core and to explore AI and automation initiatives across its broader application landscape. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260218871248/en/ Cubic Corporation Optimizes SAP Support with Rimini Street to Accelerate Modernization The strategy to forgo an expensive upgrade to S/4
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