Nokian Renkaat Oyj : Uncertainty and execution risks still too high
>Q4 earnings much lower than expected, 2023 guidance also below - Nokian Tyres yesterday reported Q4 2022 results that were down sharply (adjusted EBIT of € 14m vs € 88m in Q4 2021) and well below expectations (-65%), penalised by the consequences of the discontinuation of its activities in Russia (both production and sales) and the low visibility that the consensus had ahead of the release. The outlook announced for 2023 (sales of € 1.3-1.5bn, adjusted operating marg...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.