2.1 Operating revenue
(NOK THOUSAND) 2019 2018
Revenue from contracts with customers 1 589 096 1 580 241
Revenue from contracts with customers from Jotun entities 1 099 697 1 000 126
Total revenue from contracts with customers 2 688 794 2 580 366
Other revenue 44 436 73 866
Other revenue from Jotun entities 891 452 728 695
Total 3 624 682 3 382 926
Other revenue includes among others royalty income, misc. grants and refunds and profit from sale of
fixed assets.
Revenue from contracts with customers by segments
(NOK THOUSAND) 2019 2018
Decorative Paints 2 253 661 2 192 654
Marine Coatings 298 045 267 244
Protective Coatings 104 686 93 034
Powder Coatings 32 402 27 435
Total 2 688 794 2 580 366
Payment terms are based on agreements and local business practices and are in general in the range of
30 to 60 days.
Back to Notes for the Parent Company
2.2 Payroll expenses
Jotun A/S has a system of annual bonuses that applies to senior management and is limited to a
maximum of 20 per cent of annual basic salary. Further, all members of the management, including the
President & CEO, are part of an annual profit-dependent bonus system limited upwards to 50 per cent
of annual basic salary.
The company's pension plans are primarily defined contribution plans. For further information see
Note 5.2.
For remuneration of President & CEO and Board of Directors, see Note 5.3.
Wages and other social costs
(NOK THOUSAND) 2019 2018
Wages including bonuses 799 042 748 605
Social costs 123 569 118 328
Pension costs defined contribution plans 87 995 73 746
Pension costs defined benefit plans, ref. Note 5.2 3 881 3 586
Other personnel costs -23 324 -31 225
Total 991 162 913 040
Average full time equivalents employees 954 944
2.3 Other operating expenses
(NOK THOUSAND) 2019 2018
Manufacturing 69 038 64 013
Warehouse 23 056 15 504
Transportation 42 302 44 050
Sales and marketing 129 430 130 448
Research and Development 235 732 215 824
General and administrative 98 759 82 185
Royalty 30 489 30 621
Other * 221 691 279 812
Total 850 497 862 457
*Other consists mainly of product liability claims and losses on accounts receivable.
JOTUN A/S
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