Nokian Tyres posts strong earnings growth at first-half stage

Nokia, Finland – Nokian Tyres has seen its sales and profits improve significantly over the second quarter and first half of 2026, due in part to higher volumes and pricing.

For the three months to end of June, the Finnish tire maker reported a 136% increase in operating profit to €35 million on a 10.6% increase in sales to €380 million, said Nokian 17 July.

Segments operating profit for the second quarter came in at €45.0 million, up 71% year-on-year.

Nokian said the increase was driven by “higher sales and lower manufacturing and material costs.”

For the first half of the year, sales were up 7.6% year-on-year to €660 million , with “neutral currency effect.” Sales growth, Nokian said, “outperformed the market in all regions.”

First half operating profit rose 180% year-on-year to €17 million, up from a loss of €21 million reported in the first half of 2025.

Segments operating profit rose significantly to €40.7 million from €7.8 million reported the year before.

For 2026, Nokian said its sales are expected to grow compared to the previous year and segments operating profit as a percentage of net sales to be 8–10%.

Tire demand, it said, is expected to “remain flat” in 2026.

“Development of global economy as well as geopolitical, trade and tariff uncertainties, including the ongoing conflict in the Middle East, may cause volatility to the company’s business environment,” Nokian noted.

Commenting on the results, president and CEO Paolo Pompei said the increase in operating profit was driven by “higher sales volumes and enhanced pricing.”

“At the same time, we further improved efficiency through multiple initiatives across the organisation, supporting profitability and long-term value creation,” he added.

‘Passenger car tires’ were the main driver of improved performance, with both sales and profitability increasing during the quarter.

Nokian’s ‘heavy tires’ unit returned to sales growth, while maintaining “good profitability despite challenging market conditions.”

Retailer Vianor’s profitability was affected by cost inflation and the early start of the spring season.