Nokian Renkaat Oyj : Outlook still uncertain and challenging despite strategic announcements
>Q3 ahead of expectations but strategic announcements more relevant - Nokian Tyres yesterday reported Q3 results that broadly topped expectations (+20% on sales, +48% on EBIT but -50% on FCF), driven notably by higher-than-expected volumes in Russia (the group had increased its production before the sanctions that came into force in July and which have since prevented the tyre maker from exporting outside Russia). Although Nokian Tyres had already announced at the end...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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