Fri May 6 08:03 am 2011 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release 6 May 2011, 8 a.m.

Nokian Tyres plc Interim Report January-March 2011:
Strong first quarter results and record-high order book

Nokian Tyres group’s net sales increased by 57.3% to EUR 289.2 million (EUR 183.8 million in Q1/2010). Operating profit grew to EUR 72.3 million (EUR 21.1 million) and Earnings per share increased to EUR 0.49 (EUR 0.16).

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 whole 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 quidance:
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.