Jøtul AS: Q1 2023 Interim report

31 May 2023 08:15 CEST

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 Q1 2023, the Jotul Group reached a consolidated profit of MNOK 65.1 (Q1 2022:
loss of MNOK -2.3). The operating result amounted to MNOK 80.8 in Q1 2023 (Q1
2022: MNOK 29.1). The total comprehensive income for Q1 2023 was MNOK 83.4 (Q1
2022: loss of MNOK -5.5).


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 08:15 CET on 31 May 2023.

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592032_Interim Report Q1 2023 - Jøtul Group (Final).pdf