Nokian Renkaat Oyj : An uninspiring Q3 and visibility still too limited
>A release that is unlikely to move the needle - Nokian Tyres has published Q3 2024 results in line on the operational front (-1% on SOI at € 30m) despite weaker sales growth (+14%) than expected (-7% vs consensus € 314m), buoyed by the better-than-expected performance in passenger car tyres (better costs on higher volumes, mostly raw materials and supply-chain related). However, under the SOI, unadjusted EBIT came in well below expectations at just € 4m (consensus at...Nokian Tyres is a tyre manufacturer. Co. mainly sells its products in the aftermarket. Co. and its subsidiaries include the Vianor tyre retail chain, which provides wholesale and retail services in Co.'s primary markets. The core business units in Co. and its subsidiaries are Passenger Car Tyres, which develops, manufactures, and markets summer and winter tyres for passenger cars and delivery trucks as well as SUVs; Heavy Tyres, which focuses on special tyres; as well as Vianor, which provides tyres for all vehicles: passenger cars, vans, trucks, and heavy machinery. In addition to Nokian-branded tyres, the Vianor tyre retail chain sells other tyre brands and a variety of motoring products.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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