Jotun turnover up 24 per cent in 2015
The Jotun Group recorded growth in sales and volume in all segments and regions in 2015, with profits exceeding NOK two billion.
In 2015, Jotun reported an 24 per cent increase in turnover (NOK 16 billion against NOK 13 billion in 2014). Operating profit increased by 57 per cent, NOK 2.0 billion up from NOK 1.3 billion in 2014.
The company performed well in all of the seven regions where the company is active - especially in the Middle East, Southeast Asia and North East Asia.
Fon notes that because the majority of Jotun's activities take place outside Norway, Jotun’s 2015 result were somewhat inflated by currency effects, notably the weakening of the Norwegian krone against the US dollar. Likewise, results in Scandinavia were negatively impacted by foreign exchange rates, which resulted in higher costs for imported raw materials.
In 2015, Jotun continued to devote significant capital resources toward the future development of the company. Investments included the construction of new factories in Brazil and Oman, but also other investments in existing companies to ensure a good platform for further development. In addition, the company reached a Final Investment Decision in December 2015 to build a new Research & Development Centre in Sandefjord at a total investment cost of more than NOK 1.1 billion.