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Fri June 14 01:55 pm 2019 in category Stock exchange releases

Nokian Tyres plc lowers its guidance for 2019

Nokian Tyres plc Insider information June 14, 2019, 1:55 p.m.

Due to the weakened car demand and continuously soft car tire market especially in Central Europe, Nokian Tyres plc lowers its earlier guidance for the full year 2019. The company expects short-term weakness in sales volume growth in Central Europe to continue during the remainder of the year.

Updated guidance for 2019:

In 2019, net sales with comparable currencies are expected to be slightly higher and operating profit to be lower compared to 2018. In line with Nokian Tyres’ updated 2018 strategy, the company is targeting further growth in Russia, Central Europe, and North America. As a result of ongoing investment programs to support the growth, operating profit in 2019 will include significant additional operating costs.

Earlier guidance from May 8, 2019:

In 2019, net sales with comparable currencies are expected to grow and operating profit to be approximately at the level of 2018. In line with Nokian Tyres’ updated 2018 strategy, the company is targeting further growth in Russia, Central Europe, and North America. As a result of ongoing investment programs to support the growth, operating profit in 2019 will include significant additional operating costs.

Nokian Tyres plc  

Päivi Antola 
SVP, Communications and IR

Further information: 

Teemu Kangas-Kärki, CFO, tel: +358 10 401 7750
Päivi Antola, SVP, Communications and IR, tel: +358 10 401 7327  

Distribution: Nasdaq Helsinki, media and www.nokiantyres.com