Jotun expects sales revenue to continue to grow and margins to improve year over year in the next quarter of 2023. All regions except Scandinavia achieved double-digit sales growth in the first quarter. Underlying sales growth for powder coatings was more modest, in part due to the challenging market, particularly in Western Europe. Sales growth was particularly strong in the decorative, Marine and protective coatings segments.
The strong underlying growth is due to considerable volume growth and the continued impact of price increases implemented to offset raw material inflation during the pandemic. Excluding the positive currency translation impact from the depreciation of the Norwegian krone, underlying sales were up 18 per cent. According to the financial report, sales increased by 23.5% to 7.766 billion Norwegian kroner (about 747.3 million US dollars or 5.1352 billion yuan) compared with the same period in 2022. Jotun continued its strong sales growth in the first quarter of 2023.
Recently, Jotun paint major shareholder Orkla disclosed the first quarter of 2023 operating results.
0 kommentar(er)
