December 28, 2014 1:03 PM ET


Company Overview of Jøtul AS

Company Overview

Jøtul AS designs and manufactures cast iron stoves and fireplaces in Norway. It distributes cast iron stoves and fireplaces worldwide. The company’s products are promoted and sold under the ‘Jøtul’ brand name and sub-classified into two specific categories, ‘Jøtul Classic Line’ and ‘Jøtul Modern Line’. It also owns Jøtulpeisen AS, which manufactures surrounds in Norway. Jøtul AS was founded in 1920 and is based in Kråkerøy, Norway.


Kråkerøy,  1679


Founded in 1920

800 Employees


47 69 35 90 00


47 69 34 24 19

Key Executives for Jøtul AS

Chief Executive Officer
Age: 47
President and Director
Managing Director
Chief Financial Officer
Director and Investment Director of Ratos
Age: 43
Compensation as of Fiscal Year 2014.

Jøtul AS Key Developments

Jøtul Announces Earnings Results for the First Quarter Ended March 31, 2014

Jøtul announced earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net sales of SEK 196 million against SEK 183 million a year ago. LBITA was SEK 15 million against SEK 21 million a year ago. Adjusted LBITA was SEK 15 million against SEK 19 million a year ago. Loss before tax was SEK 21 million against SEK 36 million a year ago. The company announced that sales adjusted for currency effects increased by 4%, due among other things to fewer public holidays compared with the same quarter in the previous year.

Jøtul Announces Management Changes, Effective 13 January 2014

Eskil Zapffe has been appointed as the new CEO of Ratos's subsidiary Jøtul with effect from 13 January 2014. Eskil Zapffe has held a number of positions in the Orkla Group for the past 20 years, firstly with production and subsequently with overall responsibility for B2B and brand-driven B2C operations such as Lilleborg Profesjonell and Lilleborg Dagligvare. Eskil's most recent position was with Lilleborg Dagligvare where he has been CEO since 2009. Eskil Zapffe will take up his position on 13 January 2014 and succeed Arve Johan Andresen who was CEO of Jøtul until summer 2013. Stein Erik Bjørni has been acting CEO since August 2013.

Jøtul Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Jøtul reported earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported sales of SEK 246 million compared to SEK 226 million a year ago. LBT was SEK 8 million compared to SEK 12 million a year ago. For the nine months period, the company reported sales of SEK 592 million compared to SEK 590 million a year ago. LBT was SEK 99 million compared to SEK 104 million a year ago.

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