Jotun maintained a good momentum in the first eight months of 2024. The paints and coatings manufacturer recorded an operating revenue of NOK 22 573 million. Operating profit ended at the all-time high NOK 4 865 million.

“Despite increasing price pressure in our Performance Coatings business and slower growth than usual in Decorative Paints, margins are high. We are heading for yet another great Jotun year”, says President and CEO Morten Fon.

Increasing costs

Based on the growth in 2024 so far, Jotun is gaining market shares. Sales and earnings are increasing in all segments and regions.

Volume growth, higher average selling prices and lower raw material costs all contribute to the positive dev­elopment. However, the growth comes at a price.

“Costs are increasing in operations, sales and marketing – basically in all areas. The cost incre

ase is now higher than the volume increase”, says Fon.

Outlook

Going forward, Jotun will give cost control extra attention. In addition, the company will continue to monitor the geopolitical situation.

“Jotun is operating all over the world, and we face significant tensions and uncertainties in many markets. We are well-positioned for continued profitable growth, but expect a slower pace than past tertiaries”, says Fon.

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

Financial key figures 

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