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Fri August 5 08:09 am 2011 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release 5 August 2011, 8 a.m.

NOKIAN TYRES PLC INTERIM REPORT JANUARY-JUNE 2011:


High demand, strong sales growth and improved results



Nokian Tyres group’s net sales increased by 41.4% to EUR 628.0 million (EUR 444.2 million in 1-6/2010). Operating profit grew to EUR 165.6 million (EUR 82.0 million) and Earnings per share increased to EUR 1.06 (EUR 0.58).

Outlook:


Car tyre demand and deliveries have increased clearly driven by a recovery of consumer confidence, growth of GDP on Nokian Tyres’ core markets, growth in car sales and improved financing to distributors. Higher industrial activity in machine building and transportation supports growth of heavy tyre and truck tyre sales. Inventories are low in the tyre industry and distribution channels. Nokian Tyres’ order book is on an all-time high level in all manufacturing units and demand may exceed supply capacity at times in 2011.

Financial guidance (unchanged):


In 2011, the company is positioned to provide strong sales growth and to improve operating profit clearly compared to 2010.

Read the whole stock exchange release here.