The coronavirus pandemic resulted in significant declines
in sales activity in the second quarter of 2020, especially in
South East Asia and the Middle East. However, by quickly
implementing business continuity measures, implementing
cost controls, utilising digital technologies to strengthen
relationships with key stakeholders and using social media
and other online tools to manage the launch of new products,
the company posted another year of positive results in the
Decorative Paints segment.
REGIONAL DIVERSITY
Jotun’s regional diversity allowed the company to offset weak
demand in some markets with strong demand in others. For
example, slow sales in Malaysia in April were offset by strong
market activity in Norway, where consumer demand during
the lockdown period reached record highs. Likewise, Jotun
made up for some postponed mega-projects in the United
Arab Emirates with excellent results in Vietnam.
Our business / Jotun Decorative Paints
Jotun successfully managed the digital launch of the 2021
Global Colour Card Collection, the foundation for the
company’s sales efforts. Known as ‘Rediscover’, the collection
features four different colour schemes, which include Nordic
Blues, Earthy Shades, Nostalgia Pastels and Soft Neutrals.
Unable to host live events, Jotun organised a series of
webcasts customised for different regions to present new
products. Jotun also launched a new, global consumer
website with enhanced functionalities to showcase both
interior and exterior decorative paints. Products launched in
2020 included Jotun Essence Cover Plus in South East Asia, a
new premium product in Jotun’s Fenomastic range in Turkey,
and Jotashield Carbo, a premium anti-carbonate paint
solution for car parks in the Middle East.
POSITIVE OUTLOOK
By staying close to customers, Jotun gained market share
in many markets in 2020. While the pandemic’s effects may
continue to create uncertainty in some countries, the company
is confident that as more markets open up, consumer
spending will increase and many delayed mega-projects will
resume, supporting more robust growth in the years ahead.
Uninterrupted growth
While the coronavirus pandemic’s effects may
continue to create uncertainty in some markets,
Jotun’s excellent results in 2020 show that the
company has the products, personnel and
systems to continue to drive growth in the future.
Despite slow sales in the spring of 2020, Jotun reported strong sales in the Decorative Paints
segment in 2020.
Jotun Group Report 2020 I 25