Jøtul manufactures cast-iron stoves and fireplaces, inserts, surrounds and cast-iron stove accessories. The group’s most important brands are Jøtul and Scan. Manufacturing mainly takes place in proprietary production in Norway and Denmark, with smaller units in France and the US, and to some extent via partners. The company’s products are sold worldwide through its sales subsidiaries and distributors.
The market share in the Nordic countries is approximately 20%. Competition mainly comprises local players in Jøtul’s various markets. However, the main competitor in the Nordic region, NIBE, like Jøtul has an international presence. The market is driven to varying degrees in different countries by a greater interest in remodelling, the overall economic trend and cost developments for alternative heating sources – electricity, oil and natural gas.
Environmental issues are a priority area for Jøtul. All cast iron used in production is manufactured from recovered scrap-iron and hydropower is used almost exclusively in the manufacturing process. Jøtul’s products are among the market’s most energy efficient and have a very clean burning technology. The products are environmentally certified in accordance with local environmental certification standards.
Jøtul has a strong global market position. Market demand is volatile and has performed negatively since Ratos acquired the company. Jøtul has increased its market shares, but the earnings trend has been unsatisfactory. Therefore, focus for the most recent and coming years will be on further streamlining in order to improving profitability.
In addition to optimising purchasing, production, logistics and distribution, Jøtul will invest in product development to further strengthen its global market position.