In addition to detailing sales figures and market forecasts, companies
must provide data covering everything from environmental impacts to
competence development milestones, health, and safety initiatives to
Corporate Responsibility projects, among other categories.
Directors and Officers liability insurance
Jotun has established adequate directors and officers liability insurance.
8. FUTURE PROSPECTS
The Board anticipates that many challenges that Jotun faced in 2021 are
likely to carry over at least into the first half of 2022. Raw material prices,
which reached extraordinary highs last year, are not expected to ease before
the second quarter of 2022 and the threat of new coronavirus variants may
result in business interruptions in some markets. However, based on Jotun’s
strong performance in 2021, the Board is confident that Jotun has the
right strategy, personnel, experience and systems in place to adapt to any
challenging market condition.
The Board expects that a modest recovery in newbuilding orders will benefit
Jotun Marine Coatings while growing demand for energy, combined with
increased investments in renewable energy and infrastructure projects, will
help support continued growth in the Protective Coatings segment. Jotun’s
record-high results in the Powder Coatings segment in 2021, combined with
the development of innovative products for non-metal substrates and the
pipeline market, suggest a bright future. The Board is also confident that
Jotun will continue to grow sales in the Decorative Paints segment, which
has enjoyed years of uninterrupted growth.
With growing pressure from the public and regulators to combat climate
change, Jotun is in an increasingly strong position to help customers
improve their environmental performance and comply with increasingly
strict regulations.
Whatever challenges 2022 may bring, the Board remains confident that
Jotun’s ongoing investments in R&D, production capacity and skilled
personnel will give Jotun a strong basis for continued profitable growth as
well as help accelerate Jotun’s position as one of the world’s leading paint
and coatings providers.
Sandefjord, Norway, 15 February 2022
The Board of Directors
Jotun A/S
Morten Fon
President & CEO
Odd Gleditsch d.y.
Chairman
Jannicke Nilsson
Einar Abrahamsen
Nicolai A. Eger
Bjørg Engevik Nilsen
Camilla Hagen Sørli
Terje Andersen
Per Kristian Aagaard
Board of Directors
Jotun Annual Report 2021 I 15
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