Wed August 8 08:03 am 2012 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release 8 August 2012, 8 a.m.

Nokian Tyres plc Interim Report January-June 2012: Strong results, improving market position

Nokian Tyres group’s net sales increased by 27.1% to EUR 798.0 million (EUR 628.0 million in 1-6/2011). Operating profit grew to EUR 217.7 million (EUR 165.6 million). Earnings per share increased to EUR 1.40 (EUR 1.06).

The order book for Nokian car tyres remains good despite a more challenging market. The company has further improved its position by winning market shares in all targeted markets in Russia and Northern Europe. The growing production capacity offers further growth potential and productivity gains, and a declining Fixed cost ratio supports profitability. Successful winter tyre pre-deliveries in Russia in H1 and the uncertainty in Europe may shift sales from Q3 to Q4, closer to the consumer winter tyre season. Nokian Heavy Tyres’ sales in 2012 are estimated to decrease compared to 2011 due to a softer demand.

Financial guidance (unchanged):
In 2012, the company is positioned to improve Net sales and Operating profit compared to 2011.

Read the whole stock exchange release here.