Strong tertiary from Jotun

(Sandefjord, May 28th 2024): With new all-time high sales and earnings in the first tertiary of 2024, Jotun continues the strong momentum from last year.

The global paints and coatings manufacturer increased total sales to NOK 10 897 million during the first four months of 2024. The key driver was volume growth. Earnings came in at NOK 2 390 million, 13 per cent up from the same period last year.

“We delivered all-time high sales and earnings in all segments and all regions, except one. This was yet another very good tertiary for Jotun”, says President and CEO Morten Fon.

Continued growth

Jotun has shown positive development for several years. This continued in the first four months of 2024, with an underlying sales growth of 9 per cent.

“We continued to grow the business and increased our market share. We control our costs reasonably well, but our costs are increasing. This puts pressure on our operational margins going forward”, says Fon.

Outlook

With operations in almost 70 countries, Jotun may be affected by the conflicts and mounting geopolitical tension in many parts of the world.

“There are significant challenges around us, and uncertainty is high. However, Jotun is well-positioned to achieve continued profitable growth”, says Fon.

Jotun’s long-term growth strategy and investment plans stay firm.

Financial key figures

(Mill. NOK)	T1/2024	T1/2023	Change
Operating revenue	10 897	10 389	5 %
Operating profit	2 390	2 122	13 %
Profit before tax	1 939	1 860	4 %

For further information

Morten Fon, President & CEO, +47 909 19 822, morten.fon@jotun.no

Øyvind W. Haugå, Group Communications Director, +47 957 47 495, oyvind.willumsen.hauga@jotun.no

Emner

Jotun is one of the world's leading manufacturers of decorative paints, marine, protective and powder coatings. The Group has 66 companies and 40 production facilities globally, and more than 10,300 employees. Jotun’s products are available in more than 100 countries around the world through own subsidiaries, joint ventures, branch offices, dealers and distributors. The Jotun Group’s sales in 2023 was NOK 31,9 billion. The Jotun Group is organised into four segments and five geographical regions. The head office is in Sandefjord, Norway.