19 Mar 2013
ERJ staff report (BC)
Nokia, Finnland – Nokian Tyres has issued its Annual Report for fiscal 2012.
Demand for its passenger tires increased in Russia but decreased clearly in Central Europe, notes the company, with a challenging operating environment in the second half of the year.
Nokian Tyres’ net sales grew by 10.7%. The company increased its winter tire market shares in Russia and the Nordic countries. In Russia, Nokian Tyres grew three times faster than the market, it claims.
On the back of an improved sales mix, the average selling price increased, while raw material costs remained at the previous year’s level.
The passenger car tire unit accounted for 95% of the company’s operating profit.
The Vianor tire chain expanded by 127 stores in 2012 to a total of 1,037 in 26 countries.
Production volume increased by 11% and productivity by 6%. A new factory and the company’s eleventh production line were commenced in Russia, and a twelfth line was installed.
The company’s annual production totalled 15.7 million passenger car tires, and its annual production capacity increased to 18 million tires.
| Key results (IFRS) | |||
|---|---|---|---|
| Eur million | 2012 | 2011 | Change (%) |
| Net sales | 1 612.4 | 1 456.8 | 10.7 |
| Operating profit | 415.0 | 380.1 | 9.2 |
| % of net sales | 25.7 | 26.1 | |
| Profit before tax | 387.7 | 359.2 | 8.0 |
| % of net sales | 24.0 | 24.7 | |
| Gross investments | 209.2 | 161.7 | 29.4 |
| % of net sales | 13.0 | 11.1 | |
| Personnel average during the year | 4 083 | 3 866 |
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