ERJ staff report (RD)
Nokian, Finalnd -- Nokian Tyres has published its 2009 annual report, which is now available on the company's website.
The Finnish tyre manufacturer reported sales down by 26 percent to Euro 798.5 million in 2009, compared to the previous year. Operating result was also down at Euro 102 million, a fall of 58.7 percent compared to 2008, Nokian said.
â€œThe rapid global economic downturn and the devaluation of our most important salescurrencies that began already in the second half of 2008 continued in the first half of 2009,â€ said Nokian ceo, Kim Gran. â€œThe situation required immediate action and made us redefine our short-term objectives. We started to focus on defending our market positions, streamlining our production and significantly improving our cash flow,â€ Gran said, adding that the company is now in a good position to return to profitable growth.
Follow the link below to get access to the company's 2009 annual report, financial review and web annual report.
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Press release from Nokian Tyres