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May 30, 2024

Strong Tertiary Results From Jotun

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 ($1.03 billion) during the first four months of 2024. The key driver was volume growth. Earnings came in at NOK 2,390 million ($226 million), 13 percent 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”, said president and CEO Morten Fon.

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

“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,” said Fon.

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.

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