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
STOKR Secures CASP and PI Licences in Luxembourg Ahead of MiCAR Deadline30.6.2026 10:00:00 CEST | Press release
Authorised by the CSSF just before the 1 July 2026 enforcement deadline, STOKR joins a small group of crypto-asset firms cleared to operate across the EU under a single, harmonised regime. STOKR, the Luxembourg-based digital securities platform, has received authorisation from the Commission de Surveillance du Secteur Financier (CSSF) under the EU's Markets in Crypto-Assets Regulation (MiCAR) and the Law of 10 November 2009 on payment services, securing its Crypto-Asset Service Provider (CASP) and Payment Institution (PI) licences just over a week before MiCAR's 1 July 2026 enforcement deadline. Digital securities fall outside MiCAR's scope but the payment leg does not. To receive, hold, and transfer crypto assets and stablecoins on behalf of clients during subscription and redemption, a platform requires a CASP licence under MiCAR and a PI. Without both, a platform can issue digital securities but cannot move the capital. With MiCAR's transitional period ending on 30 June 2026, a sign
NHOA Energy Awarded Culcairn Battery Contract by Neoen in Australia30.6.2026 09:06:00 CEST | Press release
The landmark Culcairn Battery contract builds on the successful delivery of Neoen’s Blyth Battery by NHOA Energy in Australia, strengthening the long-standing relationship between both companies NHOA Energy, global provider of utility-scale energy storage systems, has been awarded notice-to-proceed by Neoen, one of the world’s leading renewable energy companies, on the latter’s Culcairn Battery, a 215 MW / 963 MWh project to be installed in New South Wales (NSW), Australia. The project will be delivered under an EPC contract in partnership with a joint venture between Equans Solar & Storage and Bouygues Construction Australia and marks a significant new milestone in the long-standing partnership between Neoen and NHOA Energy in Australia. The announcement follows the successful delivery of work by NHOA Energy on Neoen’s 238.5 MW / 477 MWh Blyth Battery in South Australia, in operation since early 2025, and reaffirms NHOA Energy’s leading role in the growth of large-scale energy storage
Manago AI, Formerly SALESmanago, Unveils New Identity and Agentic AI Capabilities to Help Brands Move Faster and Make Powerful Marketing Feel Simple30.6.2026 09:00:00 CEST | Press release
- Manago AI helps brands understand every customer and turn insights into personalised engagement in minutes, dramatically reducing marketing complexity Manago AI today announces the next evolution of its Customer Engagement Platform, combining a new brand identity, agentic AI capabilities, an improved user experience, and a simplified commercial model designed to help growing companies realise value faster. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260630694104/en/ From left: Marcin Stelmach, Director of Customer Success, Klaudia Penkalla, Chief of Staff, Phil Draper, CEO, and Marek Broda, CDFO The launch coincides with the company’s rebrand from SALESmanago, one of the first marketing automation platforms in Europe, to Manago AI. This reflects a broader business transformation focused on helping marketers move faster, reduce complexity and achieve value sooner through AI-powered customer engagement. Designed for eComm
Ampowr and Indonesia's Ministry of Villages Sign Agreement to Electrify Communities Without Reliable Power30.6.2026 09:00:00 CEST | Press release
A four-village pilot opens a staged path toward as many as 300 villages, transferring Ampowr’s solar, storage, and energy-management technology to support education, healthcare, food production, and rural enterprise. Ampowr has signed a Memorandum of Understanding with Indonesia's Ministry of Villages and Development of Disadvantaged Regions (Kemendes PDT) to bring reliable, clean electricity to villages with little or no power. The agreement was signed in Jakarta by Secretary General Taufik Madjid and Ampowr's Indonesian entity, PT Ampowr IES Indonesia, building on the company's existing sales presence in the city. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260630616370/en/ Secretary General (Sekjen) of the Ministry of Villages and Development of Disadvantaged Regions (Kemendes PDT), Taufik Madjid, signed a Memorandum of Understanding with Ampowr Co-CEO, Eric van Honk. Indonesia has 75,266 villages, according to the Min
FPT Achieves SAP® Silver Partner Status in the SAP® PartnerEdge® Program, Expanding SAP Capabilities for European Enterprises30.6.2026 08:00:00 CEST | Press release
FPT announced today that it has achieved SAP silver partner status in the SAP® PartnerEdge® program, recognizing the company's proven customer success, differentiated SAP offerings, and ongoing commitment to SAP certifications. The recognition reflects FPT's growing presence in Europe for SAP technology ecosystems and its experience supporting leading enterprises, including E.ON, RWE, and IONITY, across SAP transformation, application management, and integration initiatives. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260629805729/en/ Through its SAP practice in Europe, FPT provides organizations with comprehensive SAP capabilities designed to support business transformation and maximize the value of their SAP investments, including: End-to-end SAP services spanning consulting, implementation, integration, migration, optimization, application management, and managed services. SAP software licensing and lifecycle support,
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