For Jotun, 2005 was a record year in terms of sales. Group sales, including Jotun Dekorativ, Jotun Coatings, Jotun Paints and Jotun Powder Coatings, totalled approximately $1 billion, reflecting an increase of approximately $97 million over 2004 total group sales. Operating profits were approximately $6 million higher at roughly $87 million.
For Jotun, 2005 saw the opening of new factories in China, Indonesia and India, and several new products were launched, including Jotashield exterior products in the Middle East and Asia, SeaLion for the global marine market and Lady interior stains in Norway. Jotun’s investments of approximately $66 million in 2005 was a record high.
Jotun Dekorativ, producers of decorative paint, stain and varnish products for the Scandinavian market, increased sales in Sweden, Denmark and Norway.
Jotun Coatings recorded a rise in both sales volume and earnings in 2005, strengthening its global market position within marine and protective coatings for the industrial and offshore sectors.
Jotun Paints experienced its highest growth in the Middle East, and will continue to make investments there as well as South East Asia. Jotun Paints also installed 300 new multicolor tinting systems in 2005.
Jotun Powder Coatings reported a rise in income in 2005, but high raw material costs have reduced margins on powder coatings. In India, a new factory was recently completed.