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
Croma-Pharma Announces FDA Approval of Obagi saypha® ChIQ™ in the United States1.7.2026 12:34:00 CEST | Press release
ChIQ™ becomes the second FDA-approved product from Croma's saypha® portfolio in the U.S., expanding treatment options for facial volume restoration. Wrapping up the first half of 2026 with another important milestone, Croma-Pharma announces the FDA approval of Obagi saypha® ChIQ™ in the United States. Obagi saypha® ChIQ™ injectable hyaluronic acid gel is approved for cheek augmentation and correction of midface contour deficiencies in adults over the age of 21. Developed and manufactured by Croma-Pharma and commercialized by Obagi Medical, a Waldencast company, in the U.S., ChIQ™ follows the approval of Obagi saypha® MagIQ™ in September 2025 and further broadens the availability of Croma's injectable aesthetic solutions in the United States. As demand for minimally invasive aesthetic treatments continues to grow, the approval broadens the range of treatment options available to healthcare professionals and patients seeking safe and natural-looking aesthetic outcomes. "With the approval
Rezon Bio Appoints Dr. Hubert Scholze as Chief Business Officer to Accelerate Global Commercial Expansion1.7.2026 12:01:00 CEST | Press release
Rezon Bio, a science-driven European biologics contract development and manufacturing organization (CDMO), today announced the appointment of Dr. Hubert Scholze as Chief Business Officer (CBO), effective July 1, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701630118/en/ Dr. Hubert Scholze, Chief Business Officer, Rezon Bio As a member of Rezon Bio’s Executive Leadership Team, Dr. Hubert Scholze will lead the company’s commercial functions, overseeing Business Development, Market Intelligence, Global Marketing, Proposal Management and Project Management. Hubert Scholze, PhD will be responsible for Rezon Bio’s commercial strategy, strengthening strategic partnerships, supporting the company’s continued international growth, and ensuring a seamless client experience from initial engagement to program execution. His appointment comes at pivotal moment for Rezon Bio as the company continues to strengthen its integrated
CoStar Group Invests in Wikicasa, Italy’s Agent-Backed Real Estate Marketplace1.7.2026 12:00:00 CEST | Press release
Transaction will result in an approximately 30% stake in the company and support innovation and digital transformation in the Italian real estate market CoStar Group, Inc. (NASDAQ: CSGP), a global leader in online real estate marketplaces, information, analytics and 3D digital twin technology in the property markets, today announced an investment in Wikicasa, Italy’s agent-backed real estate marketplace. The transaction will result in CoStar Group acquiring an approximately 30% stake in Wikicasa. Wikicasa’s shareholder base includes Italy’s leading real estate agencies - including Tecnocasa Group, Gabetti Group, RE/MAX Italy, and Tempocasa. Wikicasa.it is an agent-driven platform that brings together leading real estate professionals across Italy to deliver a high-quality, data-rich marketplace of over 600,000 listings, more than 100,000 of which are commercial. It provides consumers with comprehensive property listings while equipping agents with modern data and intelligence tools to
Forrester Announces The Conference Agenda For B2B Forum EMEA 20261.7.2026 11:46:00 CEST | Press release
The event will help B2B leaders modernise their go-to-market strategies to navigate AI-enabled buyer autonomy Forrester (Nasdaq: FORR) today announced the full conference agenda for its B2B Forum EMEA 2026, taking place 28–29 September 2026 in London. Centered on the theme, “Hello, GTM Singularity,” the event will bring together marketing, sales, product, customer success, and revenue leaders to address the collapse of traditional go-to-market (GTM) models. According to Forrester, approximately nine in 10 business buyers now use genAI or conversational search in the buying process. As AI-led discovery, changing buying behaviours, and increasingly complex buying networks continue to disrupt how customers discover, evaluate, and purchase solutions, organisations must integrate their GTM approach as a unified system that builds visibility, preference, and trust. Designed as an intimate event for senior B2B leaders, B2B Forum EMEA 2026 will combine keynote presentations, analyst-led sessio
Ant International Unveils Global Development Centre in Malaysia, Expanding Commitment to AI, Talent, Trust and Digital Innovation1.7.2026 11:06:00 CEST | Press release
Ant International is developing around 1,500 talents in Kuala Lumpur, with more than half in tech-related roles, supporting the company’s global innovations and business growthSpending by Alipay+ partners via the DuitNow national QR increased more than 60%, driving travel-led economic impact as the country celebrates Visit Malaysia 2026Since launching in January 2026 with TNG Digital, Ant International’s EPOS360 AI-as-a-Service platform now supports more than 14,000 Malaysian SMEs Ant International today officially opened its Global Development Centre (GDC) in Kuala Lumpur, deepening its long-term commitment to Malaysia and Southeast Asia, and strengthening the country's role as a strategic hub for global innovation, digital talent, and next-generation financial technology. The unveiling ceremony was officiated by the Prime Minister of Malaysia, YAB Dato' Seri Anwar Ibrahim. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260
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