Fri June 17 10:00 am 2022 in category Stock exchange releases
Nokian Tyres plc raises its net sales guidance for 2022
Nokian Tyres plc, Inside information, June 17, 2022 at 10:00 a.m.
The war in Ukraine and the subsequent sanctions continue to cause significant uncertainty to Nokian Tyres’ operating environment especially related to Russia. However, tire demand has remained good and Nokian Tyres has succeeded in implementing price increases to mitigate cost inflation. Therefore, the company raises its net sales guidance for 2022. In the second half of the year, Nokian Tyres’ tire supply will be severely limited by the sanctions, having a negative impact on segments operating profit. Significant uncertainties remain in the outlook for 2022.
Updated guidance for 2022:
The war in Ukraine and resulting sanctions cause significant uncertainty to Nokian Tyres’ operating environment. In 2022, Nokian Tyres’ net sales is expected to decrease or to be at previous year’s level, and segments operating profit is expected to decrease significantly compared to 2021.
Earlier guidance given on April 27, 2022:
The war in Ukraine and resulting sanctions cause significant uncertainty to Nokian Tyres’ operating environment. Nokian Tyres’ net sales and segments operating profit in 2022 are expected to decrease significantly compared to 2021.
Nokian Tyres plc
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Distribution: Nasdaq Helsinki, media and www.nokiantyres.com