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Fri October 31 03:54 am 2008 in category Company news

Interim report for Nokian Tyres plc January-September 2008

The net sales of Nokian Heavy Tyres in January–September were EUR 77.8 million (EUR 73.6 million), up 5.7% from the corresponding period the previous year. The slowdown in the global economy and the resulting uncertainty, as well as the decline in the manufacture of forestry machinery, reduced clearly the demand for forestry tyres.

The net sales of Nokian Heavy Tyres in January–September were EUR 77.8 million (EUR 73.6 million), up 5.7% from the corresponding period the previous year. The operating profit of Heavy Tyres was EUR 15.5 million (EUR 16.9 million), and the operating profit percentage was 19.9% (23.0%).
 
The slowdown in the global economy and the resulting uncertainty, as well as the decline in the manufacture of forestry machinery, reduced clearly the demand for forestry tyres in the third quarter.
As a result, the focus of manufacture in Nokian Heavy Tyres was turned from forestry tyres to products with strong demand, i.e. to harbour, mining, agricultural and industrial machinery tyres. These products sold well, but their margins are lower compared to forestry tyres. The production capacity was in full use in the review period.