Fourth quarter net sales fell 3.4% year-on-year to €473.6 million, while operating profit dipped 4.4% to €117.2 million, added the group's 5 Feb report.
“In 2018, we made good progress especially in Russia and North America,” commented Hille Korhonen, president and CEO.
Growth, she said, was driven by the passenger-car-tires market, despite a delayed summer and lower new-car sales in Sweden and Norway.
However, the tire market in central Europe became “highly competitive” in 2018, according to the tire maker.
Utilisation of increased capacity in Finland, it said, is to be adjusted as the central European market “is less robust than estimated a year ago.”