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
du and Comarch Communications Launch Agentic AI for OSS Network Operations28.10.2026 13:00:00 CET | Press release
du, the leading telecommunications and digital service provider and Comarch Communications, a global provider of Enterprise Tech solutions for connectivity, have expanded their partnership to lay the data foundation for goal-oriented autonomous execution. Comarch Communications is delivering a major upgrade to du’s Operational Support Systems (OSS) platform. By creating a unified central hub for all network data regardless of its source, the platform automatically keeps information up to date, giving du complete real-time visibility over its network resources. Justin Shields, CIO at du: “Our ambition at du is to raise the standard for operational agility while keeping the trust of our customers. Resilience and control are at the center of how we plan to scale AI. This next phase with Comarch Communications strengthens the inventory and topology foundation that underpins our vision for an enhanced customer experience, while enabling a new generation of AI-driven applications and workflo
Patsnap Launches AI Agents to Extract SAR Data and Identify Lead Compounds From Small Molecule Patents28.10.2026 13:00:00 CET | Press release
Lead Compound Analyzer and SAR Extractor help scientists identify likely lead compounds and turn patent-disclosed chemistry into structured, source-referenced data for drug discovery. Patsnap today announced Lead Compound Analyzer and SAR Extractor, two AI agents in Patsnap Eureka Life Sciences that help drug discovery teams identify likely lead compounds and extract structure-activity data from small molecule patents. By reducing manual extraction, the agents help medicinal chemistry, competitive intelligence and computational teams assess competitor compounds, compare chemical series and inform further research. Learn more here. AI is giving drug discovery teams new ways to analyze compounds and guide molecular design, but those workflows depend on the experimental data available to them. Patents are often an early public source of new compounds, potency data and structure-activity relationships, yet that evidence remains difficult to reuse. Compound structures appear as images, acti
NIQ Expands Shopper Experience Platform to Improve Product Discovery in AI-Powered Shopping28.10.2026 12:00:00 CET | Press release
New optimization capabilities and NIQ’s CONTENT Framework help brands strengthen product visibility, relevance and performance across retail and AI-powered shopping channels NielsenIQ (NYSE: NIQ)today announced new optimization capabilities for its Shopper Experience Platform, supported by its CONTENT Framework, a seven-pillar approach to evaluating and improving product content. Together, they enable brands to evaluate product content and imagery against retailer requirements and category expectations, identify gaps, and prioritize improvements that strengthen product discovery across retailer sites, search engines, and AI-powered shopping channels. A product can be accurate, complete, and retailer-compliant yet still be difficult for shoppers to find, understand, or choose. This challenge is growing as AI assistants, retailer algorithms, and recommendation engines play a larger role in shopping. According to NIQ's Consumer Outlook: Guide to 2027, 55% of global consumers report having
Tula Technology Signs Landmark Agreement Licensing Dynamic Motor Drive® to Global Tier 1 Supplier28.10.2026 12:00:00 CET | Press release
Agreement covers supplier’s full E-drive portfolio, creating global production opportunities Tula Technology, Inc., a leader in propulsion efficiency and developer of Dynamic Motor Drive® (DMD), today announced that it has signed an intellectual property license agreement with a global Tier 1 automotive supplier covering the supplier’s entire E-drive portfolio. Under the agreement, the Tier 1 supplier has a non-exclusive license to Tula’s DMD portfolio of patents covering the U.S., Europe, and Asia. The agreement marks the first commercial deployment of DMD spanning the supplier's complete E‑drive portfolio. DMD is an innovative software‑only technology that strategically applies torque pulses under optimal conditions, reducing drive‑cycle energy consumption by 0.5‑2.0%. Because DMD is implemented entirely in software, it requires no hardware changes or additions, allowing suppliers and OEMs to integrate the technology into existing E‑drive systems with minimal engineering effort. The
PayNet Enables Malaysian Mobile Banking App Users to Make Overseas DuitNow QR Payments via Alipay+28.10.2026 11:42:00 CET | Press release
Malaysians can now pay using supported local banking apps in five destinations: Chinese Mainland, Hong Kong SAR, South Korea, the Philippines and Laos. More markets will be added progressively. Payments Network Malaysia Sdn Bhd (PayNet) today announced the launch of outbound DuitNow QR payment connectivity through Alipay+, the unified wallet gateway of Ant International. Malaysians can now use supported local mobile banking apps to pay at participating Alipay+-supported merchants in five destinations: Chinese Mainland, Hong Kong SAR, South Korea, the Philippines and Laos. The initial three launch banks are Maybank, CIMB and Hong Leong Bank, with Bank Islam set to join soon. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261028063575/en/ From left to right: Michael Guo, General Manager of Alipay+ SEA, ANZ and South Asia, Ant International; Praveen Rajan, Chief Executive Officer of PayNet; Danny Chung, General Manager of Alipa
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