Jøtul AS: Q4 2022 Interim report

28 Feb 2023 08:00 CET

YTD Q4 2022, the Jotul Group reached a consolidated profit of MNOK 164.1 (YTD Q4
2021: MNOK -34.8). The operating result amounted to MNOK 170.2 in YTD Q4 2022
(Q4 2021: MNOK -34.8). The total comprehensive income for YTD Q4 2022 was MNOK
167.4 (YTD Q4 2021: loss of MNOK -29.5).

Sales for the year increased by 27.2% to MNOK 1,614.0 YTD Q4 2022 from MNOK
1,269.0 in YTD Q4 2021. All key markets for wood burning stoves continue to show
strong demand, particularly the Nordics, Germany and France. Home improvement
spending continues to be a strong driver, and is even further enhanced by the
significant increases in electricity and gas prices across all markets,
experienced throughout most of 2022, which confirms wood burning as an important
heating alternative and contributes to sustained strong revenues. Furthermore,
the German market has seen strong demand following requirements to phase out
older stoves to comply with new standards concerning efficiency and emissions.
On the downside, since mid-2022 we have been experiencing a notable slowdown on
the pellet stoves markets in Italy and France, driven primarily by the scarcity
and increased cost of pellets as fuel.

For further information, please contact:
Jøtul AS
Nils Agnar Brunborg
Tel: +47 906 05 578
E-mail: Nils.Brunborg@jotul.no


This information was submitted for publication, through the agency of the
contact person set out above, at 08:00 CET on 28 February 2023.

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583772_Interim Report Q4 YTD 2022 - Jøtul AS (Final).pdf