Jøtul Group - Interim financial report for the half-year ended 30 June 2023

31 Aug 2023 08:00 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 the first half of 2023, the Jotul Group reached a consolidated profit of MNOK
114.9 (H1 2022: profit of MNOK 15.2). The operating profit totaled MNOK 114.4 in
H1 2023 (H1 2022: profit of MNOK 65.4). The 2023 total comprehensive profit for
the half-year was MNOK 149.3 (H1 2022: profit of MNOK 25.2).


For further information, please contact:

Jøtul AS
Nils Agnar Brunborg, CEO
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 31 August 2023.

More information:
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598399_Jotul_Interim_Financial_Report_June_2023.pdf