Received 12.1 billion, Jotun increased by 22%

On October 6, Jotun released the group’s 2022 interim financial report on its official website (unaudited). In the first eight months of 2022, Jotun’s operating income was NOK 18.243 billion (approximately RMB 12.119 billion), an increase of 22% over the same period last year; operating profit was NOK 2.653 billion (approximately RMB 1.762 billion). An increase of 6% over the same period.

In 2022, the outbreak of the conflict between Russia and Ukraine, the countervailing of the epidemic in China, the continuous Supply chain disruptions and record raw material price increases, as well as the energy crisis, have posed enormous challenges to the coatings industry. Against this backdrop, Jotun delivered strong revenue growth with double-digit sales growth in all segments (decorative, protective, marine and powder coatings); operating profit increased to NOK 2,653 million , but operating margins remained below last year's levels.

“We are very satisfied with the current performance development. We found that Ocean New The shipbuilding market has started to recover after a difficult period, with improved sales of ship repair products, protective coatings and decorative coatings,” said Jotun President and CEO Morten Fon.

Jortun President and CEO Morten Fon

Looking forward, Jotun expects the company's sales to continue to grow. While high raw material prices remain a challenge, there are signs that raw material prices have now peaked and are starting to slow down. Additionally, challenges related to the war in Ukraine, the energy crisis, global supply chain issues and the COVID-19 pandemic will remain.

Jortun said that the company will firmly maintain its long-term organic growth strategy and investment plan, Further earnings growth is poised.

Morten Fon added: “Our markets are full of volatility and uncertainty, geopolitical Political imbalances have put international trade under pressure. However, our organization is strong and intact, and our employees around the world have handled the demanding situation well and are well positioned for continued growth."

Public information shows that Jotun, founded in 1926, is a world-leading coatings group The company is headquartered in Sandefjord, Norway. Jotun has 64 subsidiaries and 40 production bases on 5 continents. Its branches, distributors and agents are located in more than 100 countries around the world, providing coatings and paints for different industries. Jotun's business has covered the R&D, production and marketing of most of today's coating products. These coating systems and products have been widely used in anti-corrosion protection and exterior decoration in residential buildings, shipbuilding and industrial fields.

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