Nokian Renkaat Oyj : Another uninspiring quarter, FY targets still (too) vague
>Q2 earnings weak but broadly in line, sharp improvement hoped for in H2 - Nokian Tyres reported Q2 2024 results in line with (cautious) consensus expectations with sales of € 325m (+11% at constant FX) and Segment EBIT of € 20m (operating margin 6.2%), also penalised once again by external factors (strikes in Finland, Red Sea headwinds), albeit to a lesser extent than in Q1 (€ 20m impact on EBITDA in H1 with >50% in Q1). Otherwise, the 2024 guidance (significant incr...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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