Nokian Tyres eyes €2bn sales as updated strategy targets Europe, N America

Nokia, Finland — Nokian Tyres’ board has approved an updated strategy and new financial targets extending through the end of 2029 as the company enters “next phase of development.”

The Finnish tire maker has set itself a target of €1.8–2.0 billion in net sales by 2029, up from €1.37 billion reported in 2025, Nokian announced 10 Feb.

The company also expects a segments earnings (EBITDA) margin of “above 24%,” compared with 16.2% in 2025, and a segments operating profit margin of above 15%, up from 6.6% last year.

“Profitability improvement will be driven both by volume growth and by more than €100 million coming from targeted performance initiatives,” said president and CEO Paolo Pompei.

Under its updated strategy, the tire maker aims to maintain “strong performance” in the Nordics while accelerating growth in North America and Central Europe.

The focus, Pompei said, will be on “premium positioning, improved product mix and disciplined cost and operational efficiency.”

Commenting on the process, Pompei said Nokian had navigated “the most significant transformations in its history” in recent years.

This period, he said, represented “a complete strategic reset as we rebuilt the new Nokian Tyres platform.”

“As we now enter the next phase of our development, we will refocus on sustainable, value-driven growth,” Pompei said.

The approach, he added, is intended to give the company “better control of the unpredictable” and reduce its “exposure to geopolitical risks.”

With the intention to “win where it matters and where we can differentiate,” Pompei said Nokian aims to introduce a “strong pipeline of innovative new products.”

Under the updated strategy, Nokian said it will continue to focus on three core segments.

In passenger car tires, the company aims to maintain a “market-leading position” in winter tires while delivering “above-market growth” in all-season and all-weather tires.

In heavy tires, the focus remains on ‘above-market growth’ in agricultural and forestry tires.

The company also highlighted its distribution arm Vianor as a “key enabler” in Europe, serving as a sales and service channel for both passenger car and heavy tires.

According to Nokian, key market trends — including electrification, a growing vehicle parc, increasing rim sizes and rising winter tire demand — are expected to support the company in the segments where it operates.