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JOTUN GROUP
Jotun
Jotun Jotun Powder Jotun
Red Sea Jotun Yemen Jotun Abu Coatings Powder
2016 Paints Saudia Paints U.A.E. Dhabi Saudia Arabia Coatings
(NOK THOUSAND) Co. Ltd. Co. Ltd. Ltd. Ltd. (LLC) Ltd. (LLC) Co. Ltd. U.A.E. Ltd. (LLC)
Non-current assets 79 433 410 319 1 780 127 127 57 520 70 469 93 609
Current assets 89 115 665 870 1 157 750 591 273 252 157 275 197 638
Total assets 168 548 1 076 188 2 937 877 718 330 772 227 744 291 247
Equity 106 053 821 486 –1 591 805 561 282 339 172 848 201 296
Non-current liabilities 19 859 61 159 4 528 20 565 1 461 9 842 1 400
Current liabilities 42 635 193 544 – 51 592 46 973 45 055 88 551
Total equity and liabilities 168 548 1 076 188 2 937 877 718 330 772 227 744 291 247
Revenues – 1 898 440 – 1 866 689 719 562 226 561 497 319
Profit /loss (–) for the year 9 931 526 535 –1 634 495 456 173 107 –9 796 119 869
JOINT VENTURES
Joint ventures are investments in which the Group has joint control over the companies together with other partners. This type of
collaboration is based on specific agreements (see note 1 for further details).
Jotun Group has the following investments in joint ventures (all the joint ventures are limited liability companies):
Jotun COSCO Jotun COSCO
ENTITY Chokwang Marine Coatings Marine Coatings
(NOK THOUSAND) Jotun Ltd. (Qingdao) Co. Ltd. (H.K.) Ltd. Total
Country South Korea China China
Figures bases on ownership 50 % 50 % 50 %
Carrying amount 1 January 2017 290 637 280 623 183 515 754 776
Net profit / loss (–) during the year –8 581 3 238 63 214 57 871
Exchange differences 22 138 5 161 –12 029 15 270
Items charged to equity 168 – – 168
Dividend –115 200 – –105 040 –220 240
Stock increase 49 284 – – 49 284
Carrying amount 31 December 2017 238 446 289 023 129 661 657 129
A summary of the financial information on the individual joint ventures as of 2017 and 2016, based on 100 per cent figures:
Jotun COSCO Jotun COSCO
2017 Chokwang Marine Coatings Marine Coatings
(NOK THOUSAND) Jotun Ltd. (Qingdao) Co. Ltd. (H.K.) Ltd.
Non-current assets 376 393 494 902 362 988
Current assets 459 425 996 544 322 108
Total assets 835 818 1 491 447 685 096
Equity 476 891 578 046 572 767
Non-current liabilities 99 390 49 242 –
Current liabilities 259 536 864 159 112 330
Total equity and liabilities 835 818 1 491 447 685 096
Revenues 903 490 1 565 561 881 806
Profit /loss (–) for the year –17 163 6 476 126 429
Jotun COSCO Jotun COSCO
2016 Chokwang Marine Coatings Marine Coatings
(NOK THOUSAND) Jotun Ltd. (Qingdao) Co. Ltd. (H.K.) Ltd.
Non-current assets 371 171 509 917 384 665
Current assets 668 224 698 804 392 063
Total assets 1 039 395 1 208 721 776 728
Equity 581 274 561 247 695 464
Non-current liabilities 87 377 51 665 –
Current liabilities 370 744 595 810 81 264
Total equity and liabilities 1 039 395 1 208 721 776 728
Revenues 1 377 064 1 742 966 659 176
Profit /loss (–) for the year 70 067 82 258 105 400