Wed February 8 08:08 am 2012 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release 8 February 2012, 8 a.m.

Nokian Tyres plc financial statements bulletin 2011:
Strong 2011 results – profitable growth to continue

Nokian Tyres group’s net sales increased by 37.7% to EUR 1,456.8 million (EUR 1,058.1 million in 2010). Operating profit grew to EUR 380.1 million (EUR 222.2 million) and Profit for the period amounted to EUR 308.9 million (EUR 169.7 million). Earnings per share increased to EUR 2.39 (EUR 1.34). Cash flow from operations was EUR 114.1 million (EUR 318.8 million). The Board of Directors proposes a dividend of EUR 1.20 (EUR 0.65) per share.

The demand and order book for Nokian car tyres has remained strong on all Nokian Tyres’ core markets, despite uncertainties in the global economy. Growing production capacity offers further growth potential and productivity gains, and a declining raw material cost estimate supports profitability. Demand for heavy tyres has levelled off and is expected to be softer in 2012.

Financial guidance:
In 2012, the company is positioned to improve net sales and operating profit compared to 2011.

Read the whole Financial Statement Bulletin here.