Wed June 24 08:00 am 2020 in category Stock exchange releases
Nokian Tyres plc: Items affecting comparability in April-June 2020
Nokian Tyres plc Inside Information June 24, 2020, 8:00 a.m.
Nokian Tyres plc will record approximately EUR 42 million of expenses as non-IRFS exclusions affecting comparability in the company's operating profit in the second quarter of 2020. Of the amount, approximately EUR 30 million are non-cash items.
The non-IFRS exclusions are:
- Impairments and write-downs of tangible and intangible assets, and certain other items. These amount to EUR 25 million, of which approximately EUR 18 million is related to Vianor and approximately EUR 7 million to the Passenger Car Tyres business, generating savings of approximately EUR 4 million which are expected to materialize in the Group’s results in 2021.
- Approximately EUR 11 million arising from the unification of the Group’s accounting principles of product development costs and related write-offs of certain tangible and intangible assets in the Passenger Car Tyres business.
- Approximately EUR 6 million arising from non-operative items, which are not indicative of Nokian Tyres’ underlying business performance.
Nokian Tyres plc
SVP, Communications and Investor Relations
Teemu Kangas-Kärki, CFO, tel: +358 10 401 7750
Distribution: Nasdaq Helsinki, media and www.nokiantyres.com