Record Sales for Jotun
Boosted by growth in all segments, Jotun Group announces strong tertiary and year to date numbers in a financial report released today 2nd October 2012.
Total net sales in the first eight months of 2012 were NOK 7 686 million for the paints and coatings company, while earnings before interest, tax and amortization (EBITA) were NOK 888 million in the period.
Strong growth
The sales growth is mainly driven by the strong performance of decorative paints and protective coatings in Scandinavia, the Middle East and South East Asia.
The Marine segment has had sales growth despite tough market conditions, especially in newbuilding of ships. The Powder Coatings segment also shows a healthy development in the period both in sales and margins.
Jotun is expanding with new operations in Cambodia, Morocco, Algeria, Myanmar and Bangladesh.
Jotun has made major investments in its new factory in Norway, as well as ongoing construction of new factories in China, the US, Russia and Brazil. Other sizable investments have been new land and a warehouse in Vietnam, and a new regional service centre in Dubai. Total investments in 2012 have so far amounted to NOK 402 million.
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