Orkla ASA — Earnings Release 2025

May 27, 2025

Jotun is one of the world's leading manufacturers of decorative paints, marine, protective and powder coatings. The Group has 67 companies and 40 production facilities globally. Jotun products are available in more than 100 countries through own subsidiaries, joint ventures, branch offices, dealers and distributors. Jotun has over 10 600 employees. The Jotun Group's sales in 2024 were NOK 34.2 billion. The Jotun Group is organised into four segments and five geographical regions, and has its head office in Sandefjord, Norway.

Press release

Record start to the year for Jotun

(Sandefjord, May 27th 2025): Jotun continued the positive development and recorded all-time high sales and earnings in the first four months of 2025.

The Norwegian paints and coatings manufacturer recorded a total operating revenue of NOK 11 376 million in the first four months of 2025. This was up 4 per cent from the same period last year. Earnings ended at NOK 2 442 million, which was an increase of 2 per cent.

"Despite increased uncertainty globally, Jotun has had a good start to 2025. Our sales increased in all geographic regions and product segments in the first four months of the year, and we continue to record high profits", says President and CEO Morten Fon.

Market development

The paints and coatings industry is expected to see continued growth, but some markets have shown signs of slowing down. Jotun continued its sales growth in the first four months of 2025, although at a slower growth rate than in previous years. The company continues to perform well compared to the competition.

"We are pleased to continue growing our market shares in more challenging markets. However, we have areas of improvement. Going forward, we need to focus on our cost development and efficiency", says Fon.

Outlook

Jotun has a large network of factories throughout the world. This setup provides opportunities and comfort in times of geopolitical instability.

"The world is in a situation we have never seen before, and we must be prepared to handle challenges. Tariffs might lead to less trade and lower growth, which also may have an impact on the coatings industry", says Fon.

Despite the uncertainties, Jotun is well positioned for further profitable growth and remains committed to its long-term strategy and investment plans.

Key financials

(NOK mill)	Jan-Apr 2025	Jan-Apr 2024	Change
Operating revenue	11 376	10 897	4 %
Operating profit	2 442	2 390	2 %
Profit before tax	2 444	1 939	26 %

Further information

Morten Fon, President & CEO, +47 909 19 822, morten.fon@jotun.no Øyvind W. Haugå, Group Communications Director, +47 957 47 495, oyvind.willumsen.hauga@jotun.no