Nokian Tyres’ IFRS-compliant financial information for 2004
Nokian Tyres plc Stock Exchange Release March 31, 2005 11.30 am.
NOKIAN TYRES’ IFRS-COMPLIANT FINANCIAL INFORMATION FOR 2004
As of 1 January 2005 Nokian Tyres has adopted International Financial Reporting Standards (IFRS) to its financial reporting. The date of the transition was 1 January 2004.
The purpose of this review is to present on a quarterly basis any material impact of the transition to IFRS-standards on Nokian Tyres’ 2004 financial statements, which were originally reported in compliance with Finnish Accounting Standards (FAS). These accounting principles were presented in the financial statements included in Nokian Tyres’ Annual Report 2004. The information reported now is based on the IAS/IFRS standards effective at the time of reporting. Nokian Tyres has applied the IFRS 1 standard (First-time Adoption of International Financial Reporting Standards) to its transition.
The FAS-compliant comparison figures in this report are identical to the information previously disclosed in the interim reports and the financial statement.