JOTUN
6.10.2022 21:01:45 CEST | Business Wire | Press release
Jotun increased both operating revenue and operating profit year to date. However, the operating margin was challenged by high raw material prices and significant global unrest.
Market status
Increased sales volume and prices led to strong topline growth for Jotun during the first and second tertiary 2022. Operating revenue came in at NOK 18 243 million, up 22 per cent from the same period last year. All segments (Decorative Paints, Protective Coatings, Marine Coatings and Powder Coatings) delivered double-digit sales growth. “We are satisfied with the development. It is great to see that the marine newbuilding market has recovered after a difficult period. We also see sales improving within ship maintenance products, protective coatings and decorative paints,” President & CEO Morten Fon says.
Global challenges
The positive development comes in a time of major global challenges. The war in Ukraine is affecting the raw material markets and creating an energy crisis in Europe. In addition, there are persistent challenges in global supply chains. “The geopolitical imbalance puts international trade under pressure. However, our people throughout the world have handled the demanding situation well,” Fon says. Consequently, costs have increased. Even though Jotun’s operating profit rose to NOK 2 653 million, the operating margin came in below the level seen last year.
Outlook
Going forward, Jotun expects continued sales growth. The high raw material prices will still be a challenge. However, there are signs that raw material prices have now peaked and started to ease. In addition, challenges related to the war in Ukraine, the energy crisis, the global supply chain issues, and the Covid-19 pandemic persist. “The world around us is characterised by unrest and uncertainty. However, our organisation is robust and intact, and we are ready for continued growth,” Fon says. Jotun is well-positioned for further profitable growth, and the company remains committed to its long-term growth strategy and investment plans.
Key financials
(NOK mill) |
T2 2022 |
T2 2021 |
Change |
Operating revenue |
9 783 |
7 534 |
30 % |
Operating profit |
1 510 |
1 027 |
47 % |
Profit before tax |
1 256 |
908 |
38 % |
(NOK mill) |
T1 + T2 2022 |
T1 + T2 2021 |
Change |
Operating revenue |
18 243 |
14 975 |
22 % |
Operating profit |
2 653 |
2 496 |
6 % |
Profit before tax |
2 236 |
2 315 |
-3 % |
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005926/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
NTT DATA and Cursor Partner to Accelerate Enterprise-Grade Modernization and AI Governance24.6.2026 14:00:00 CEST | Press release
NTT DATA leveraging Cursor to strengthen its own engineering and delivery model. Enterprise-grade governance helps modernize and transform delivery with greater trust and control. NTT DATA, a global leader in AI, digital business and technology services, today announced a strategic partnership with Cursor, the leading multi-model AI coding platform. Under this initiative, NTT DATA will use Cursor’s advanced AI agents to power the innovation of its global software engineering and delivery models. Cursor will enable NTT DATA to design, build and modernize enterprise systems with greater speed and control, while supporting the governance enterprises require. The collaboration marks a strategic advancement in NTT DATA’s transformation into an AI-native services company, enhancing how the company designs, builds and modernizes mission-critical systems. NTT DATA is operationalizing AI inside its engineering and delivery engine with enterprise-grade controls to enable faster modernization of
Carnegie Mellon Team Awarded ARPA-H Contract to Transform Care During Labor and Childbirth24.6.2026 13:05:00 CEST | Press release
New wearable monitoring system will improve clinical assessment of fetal health Carnegie Mellon University is leading a multi-university team that has secured an award of up to $39.3 million from the Advanced Research Projects Agency for Health (ARPA-H) to develop a wearable monitoring system to better identify fetal distress and its cause, enabling a safer labor and delivery experience for mothers and babies. The system, called OMEGA, or Optical, Mechanical, and Electrical Global Assessment of fetal hypoxia, aims to replace 50-year old, indirect, unreliable fetal heart rate monitoring technology with a unified, real-time assessment of fetal oxygen delivery and adaptive capacity. The project is under ARPA-H’s Making Obstetric Care Smart program, which is led by ARPA-H Program Manager Kate Arnold, M.D., MBA. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260624524685/en/ Carnegie Mellon University is leading a multi-universit
€243B Tech Spend Ahead, but Only 1 in 4 Firms Achieves Scale: WBAM Research Reveals Structural Paradox24.6.2026 12:28:00 CEST | Press release
Research report by Monitor Deloitte and Objectway investigates how and why as-a-service models are gaining ground, and what separates successful execution from failed implementation.Key takeaways Firms are layering resources onto legacy, widening the gap between investment intensity and operational scalability Technology investment alone is insufficient. The real differentiator lies in how Tech&Ops capabilities are sourced, orchestrated, and delivered As-a-service adoption is set to triple in the next 2–3 years, emerging as a key lever to unlock scale According to research conducted by Monitor Deloitte, a consultancy firm, and Objectway, a growth partner for the financial services industry, wealth, banking and asset management (WBAM) firms are investing at record levels, with Technology & Operations spending reaching €173 billion globally and set to hit €243 billion by 2029. However, yet only around one in four firms has achieved true front-to-back scalability, growing their business w
PUMA Dominates HYROX World Championships From Elite Athlete Performances to Community Initiatives24.6.2026 12:15:00 CEST | Press release
Global sports brand PUMA continued its HYROX dominance at the 2026 HYROX World Championships with a host of standout elite athlete performances and iconic community moments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260624897869/en/ Global sports brand PUMA continued its HYROX dominance at the 2026 HYROX World Championships with a host of standout elite athlete performances and iconic community moments, including Jake Williamson (left) and Hunter McIntyre in the Men’s Elite15 Doubles. Leading the charge was Jess Pettrow, who won the Mixed Relay with Australia for the second year in a row, with the team defending their title with an epic time of 50:19. Pettrow’s golden moment followed a fourth place finish with partner Joanna Wietrzyk in the Women’s Elite 15 Doubles, making it a highly successful weekend for the PUMA athlete. In addition to her strong showing in the Women’s Elite Doubles, Australian athlete Wietrzyk also
Rockstar Games Announces Pre-Orders for Grand Theft Auto VI24.6.2026 12:15:00 CEST | Press release
Starting at Midnight Local Time on June 25, 2026 Rockstar Games®, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), is excited to announce that pre-orders for Grand Theft Auto VI will begin on June 25, 2026, at midnight local time. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260624539426/en/ Rockstar Games®, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), is excited to announce that pre-orders for Grand Theft Auto VI will begin on June 25, 2026, at midnight local time. Launching November 19, 2026, for the PlayStation® 5 computer entertainment systems and Xbox Series X|S games and entertainment systems for $79.99, Grand Theft Auto VI features a single-player experience set in the biggest, most immersive evolution of the series yet. Launching November 19, 2026, for the PlayStation® 5 computer entertainment systems and Xbox Series X|S games and entertainment systems for $79.9
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