Skip to main content
Sister Publication Links
  • Rubber & Plastics News
Subscribe
  • My Account
  • LogIn
  • News
  • Technology Focus
    • Features
    • Technical Papers
    • Analysis: Rubber mixing plants of the future
      Analysis: US probes dumping by ESBR suppliers
      Opinion: Tire labels stuck in a rut
      Analysis: NR pricing takes one step forward, two steps back
    • White paper: Role of tire innerliners in improving 'in-use rolling resistance'
      White paper: Why tire air retention matters now more than ever
      Nippon Soda: Use of 1,2-polybutadiene in CSM rubber applications
      Elastomers for Sustainability Top 10
  • Events
    • ERJ Events
    • ERJ Livestreams & Webinars
    • Industry Events
    • Journey to Automation Awards 2020
      Sustainability: Top 10 E4S projects table
  • Maps & Reports
  • People
  • Directory
  • Digital Edition
  • Brainiac
MENU
Breadcrumb
  1. Home
  2. News
November 05, 2013 12:00 AM

Nokian Tyres reveals interim report for 2013

ERJ Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    ERJ staff report (TP)

    Nokia, Finland − Nokian Tyres released its Interim Report for January-September 2013 on 31 October, which showed a drop in net sales and operating profits, but a retention of its strong market position.

    The group’s net sales decreased by 4.9% to €1.1bn, and operating profit was €292.2m – a fall from €303.3m in the same period of 2012. Profit for the period amounted to €220.1m, compared with €242.6m last year. Earnings per share stood at €1.66, a dip on €1.85 in January-September 2012.

    According to Nokian Tyres: “The market demand for replacement car tires in Nordic countries and Central Europe have taken a turn for the better in H2 after a weak start for the year and are expected to be close to previous year's level in full year 2013. 

    "Russia lower GDP growth and car sales still penalise tire demand in Q4 but there are signs of some recovery for both summer and winter tires going into 2014.

    “Nokian Tyres' full year sales in Nordic countries are expected to show some growth, and to be on previous year's level in Central Europe. Despite a clear improvement in market share and growth of winter tire sales, full year sales is estimated to show some decrease in Russia and North America.

    “The pricing environment for 2013 remains challenging for all tire categories. Nokian Tyres margins, however, are supported by an improved industrial structure combined with approximately 12.5% lower raw material costs (€/kg) offering a tailwind of some €50m in full year 2013. The unfavourable currency exchange rate development of the Russian Rouble during 2013 is estimated to generate a negative effect of approximately €25m on net sales and approximately €14m on operating profit of Nokian Tyres Group in full year 2013.

    “Due to the weakened Rouble exchange rate and softer market demand for tires in Russia, Nokian Tyres' net sales and operating profit are estimated to be somewhat lower in the second half and full year 2013 compared to 2012. In 2014 the company estimates to be back on a profitable growth track.”

    Kim Gran, President and CEO, said: “Our strong market leader position in the core markets in Russia and Nordic countries is intact and we managed again to increase both market share and our distribution footprint in all markets.”

    He revealed the company continues to expand its distribution network spearheaded by Vianor. 124 new Vianor stores were opened in January to September 2013, now totalling 1,161 stores in 26 countries.

    Gran said: “We are looking into the future with confidence and the fighting Hakkapeliitta spirit."

    (Hakkapeliitta were well-trained Finnish light cavalrymen in the 16th and 17th centuries – famous for their lightning charges and courage.)


    This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

    Full press release can be found at The Wall Street Journal

    RECOMMENDED FOR YOU
    China’s 11-month tire production records first growth in 2020
    China’s 11-month tire production records first growth in 2020
    ANRPC notes rubber price recovery
    ANRPC notes rubber price recovery
    Biesterfeld to supply Denka acrylate rubbers
    Biesterfeld to supply Denka acrylate rubbers
    Free Newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Get the latest news impacting the European rubber industry, from breaking news to razor-sharp analysis, in print and online.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter
    • Youtube

    Logo
    Contact Us

    @ 2019 European Rubber Journal. All rights reserved.
    Contact Us European Rubber Journal, Crain Communication LTD, Ground Floor 11 Ironmonger Lane, London EC2V 8EY, UK

    Customer Service:
    1-313-446-0450

    Resources
    • About us
    • Contact Us
    • Staff
    • Advertise with Us
    • Media Kit
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac