Wed May 9 08:03 am 2012 in category Stock exchange releases
Nokian Tyres plc Stock Exchange Release 9 May 2012, 8 a.m.

Nokian Tyres plc Interim Report January-March 2012: A flying start, good Q1 results and continuing growth in 2012

Nokian Tyres group’s net sales increased by 32.9% to EUR 384.3 million (EUR 289.2 million in Q1/2011). Operating profit grew to EUR 105.0 million (EUR 72.3 million). Earnings per share increased to EUR 0.67 (EUR 0.49).

The demand and order book for Nokian car tyres are strong on all Nokian Tyres’ core markets, especially in Russia. For Nokian Tyres the growing production capacity offers further growth potential and productivity gains, and a declining fixed cost ratio supports profitability. In Central Europe there are uncertainties due to the economic situation and distributors’ high carry-over winter tyre stocks. Nokian Heavy Tyres’ sales in 2012 are estimated to decrease compared to 2011 due to a softer demand.

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

Read the whole stock exchange release here.