Financial News

Jotun reports strong quarter results

April 5, 2011

Jotun’s operating revenues and profits reached record ldevels in 2010, as a result of volume increases in all of its segments and strong performances in high-growth markets. The company reported operating revenues of NOK 12.0 billion in 2010, up from NOK 11.2 billion the previous year, while operating profit rose to NOK 1.34 billion in 2010, from NOK 1.16 billion in 2009.

Jotun sold 10 percent more paint in 2010 than in the previous year. Jotun’s strategy of operating across a range of market segments and geographical regions continues to deliver positive results, as strong sales in parts of Asia and the Middle East offset slower sales in Europe and the US. Rising cost of major raw materials such as epoxies, titanium dioxide, acrylics and metals, affected Jotun’s margins. Jotun supplied coatings to iconic buildings including Burj Khalifa in Dubai, the world’s tallest building, and Canton Tower in China.