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JOTUN A/S
1 OPERATING REVENUE
(NOK THOUSAND) 2017 2016
Sales revenue 1 448 507 1 436 888
Sales revenue from subsidiaries and joint ventures 990 161 898 339
Other revenue 20 013 17 818
Other revenue from subsidiaries and joint ventures 727 484 746 776
Total 3 186 166 3 099 821
Other revenue includes rental income, licence revenue, compensations and profit on sale of fixed assets.
2 PAYROLL EXPENSES
WAGES AND OTHER SOCIAL COSTS
(NOK THOUSAND) 2017 2016
Wages including bonuses 715 221 698 750
Social security tax 114 755 110 903
Pension costs defined benefit plans, ref. note 3 3 182 4 377
Pension costs defined contribution plans 80 456 70 286
Other personnel costs –30 156 –20 574
Total 883 458 863 742
Average number of full-time equivalents (FTEs) 923 913
REMUNERATION TO PRESIDENT & CEO
(NOK THOUSAND) Ordinary salary Bonus Benefits in kind Pension cost Total
Morten Fon 4 769 1 652 283 2 068 8 772
The President & CEO is part of a previous pension scheme that includes a mutual opportunity to discontinue employment in whole or in
part up to five years earlier than a stipulated retirement age of 67 years. Further, the CEO is part of an annual profit-dependent bonus
system limited upward to 50 per cent of ordinary annual salary. The other members of Jotun Group Management are also part of this
bonus arrangement.
Jotun A/S has no obligation to give the President & CEO or the Chairman of the Board special remuneration upon discontinuance or
change of the employment or office. Should the President & CEO’s employment discontinue, his contract has a clause stipulating that a
one-year “competition quarantine” may be imposed with compensation. The President & CEO has a notice period of 6 months.
Jotun A/S has not given any loans or guarantees to the President & CEO, the Chairman of the Board, or to any shareholders or members
of Group Management, the Board or Corporate Assembly.
REMUNERATION OF THE BOARD OF DIRECTORS
(NOK THOUSAND) Ordinary compensation
Board of Directors 2 820
Corporate Assembly 165
Total 2 985
Shares owned by members of the Board of Directors and the Group Management are specified in note 15.
EXTERNAL AUDITOR REMUNERATION
(NOK THOUSAND) 2017 2016
Statutory audit 1 586 1 561
Other financial audit services 1 564 1 652
Tax services 1 078 536
Total 4 228 3 749