Jotun Reports Stronger than Expected Results for Early 2026

Following its strong performance in 2025, Jotun embarked on its 100-year anniversary year with good momentum in the business. When the war in the Middle East started February 28, 2026, the company’s focus changed. Jotun immediately closed all factories in the affected countries, but operations started up again only two days later. Employee safety has remained the top priority.

“Our 1,933 employees in affected countries have been through difficult times. They have frequently been forced to take shelter, with alarms going off 24/7. Thankfully, there have been no injuries or damages, and our Middle East team has done a fantastic job,” says Morten Fon, Jotun’s president and CEO.

According to its most recent financial report, Jotun performed better than expected in the first four months of 2026. Operating revenue increased by 1% to NOK 11,496 million ($1,236.4 million) from the same period last year, while operating profit increased 7.5% to NOK 2,625 million ($282.3 million). Currency-adjusted sales growth was 10%, and operating profit increased 18%, reflecting solid underlying improvement.

“Despite the challenges, we deliver another strong period with increasing volumes and profitability. All product segments and geographical regions contributed positively. However, this changed towards the end of the period, with lower demand and weaker sales in the affected markets,” says Fon.

Jotun’s outlook is characterised by significant uncertainty, primarily due to the ongoing war. While the direct effects are most evident in the Middle East, higher raw material costs, supply chain disruptions, and increased logistics costs are expected to affect business conditions in all regions and segments.

“We see challenges ahead. The biggest one will be the availability of raw materials due to the supply chain disruptions. Depending on how long the conflict will last, this will have effects,” says Fon.

With a diversified product portfolio, strong corporate culture, and a vast geographical footprint, Jotun is well-positioned to handle the challenges and maintain its growth strategy.