Jøtul Group – Interim financial report for the quarter ended 31 December 2023
The Jøtul Group (representing Jøtul AS together with its subsidiaries) is one of the three largest suppliers of fireplaces in Europe and a significant player in North America. The company, with a history dating back to 1853 through its legacy as one of Norway’s oldest companies, distributes stand-alone stoves, inserts, frames and accessories for fireplaces. The Group’s main brands are Jøtul, Scan and Ravelli. The Jøtul fireplaces are manufactured from cast iron and appear timeless and robust, with Norwegian origins. The Scan fireplaces are manufactured from plated steel and are characterized by modern Danish design, while the Ravelli pellets stoves are characterized by Italian design and technology. The head office is based in Norway. Manufacturing takes place through own production in Norway, Poland, France and the USA, in addition to a range of bought-in products. The products are sold through one of the most wide-reaching global networks in the industry, consisting of own sales companies and distributors. The products reach the end consumers through specialty shops, and in Norway also through building materials retail chains.
In Q4 2023, Jotul Group incurred a consolidated loss of MNOK -39.6 (Q4 2022: profit of MNOK 171.5), while on an accumulated basis the Group reached a consolidated profit of MNOK 36.7 (FY 2022: MNOK 176.0). The operating result was a loss of MNOK -4.4 in Q4 2023 (Q4 2022: profit of MNOK 79.7) and a profit of MNOK 121.5 on an accumulated basis (FY 2022: MNOK 175.2). The total comprehensive loss in Q4 2023 was MNOK -29.4 (Q4 2022: profit of MNOK 150.1) and in FY 2023 the Group had a profit of MNOK 61.2 (FY 2022: MNOK 179.2).
Contact person:
Nils Agnar Brunborg
Chief Executive Officer
Tel: +47 69 35 90 00
Email: Nils.Brunborg@jotul.no
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