Nokian Renkaat Oyj : Still tough going in Q2 2023
>Earnings short of expectations again - Nokian Tyres reported sharply lower Q2 2023 results (sales down -12%, adjusted EBIT margin of 5.2%), further marked, as expected, by the exit from Russia, but lower than expected (adjusted EBIT of € 15m vs € 17m expected). As anticipated, the group confirmed its full-year guidance, suggesting even more pronounced H1/H2 seasonality. With the consensus already in the middle of the range, revisions are likely to be limited (we are ...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.