Nokian Renkaat Oyj : 2020 set to be even more difficult than expected
>Downgrades cycle continues, a limited read across - On Friday, Nokian Tyres confirmed that its 2019 results would be in line with its guidance (which was revised down in October), but indicated that 2020 would be “significantly below†2019, primarily due to low volumes in Europe (winter season carry-over stocks) and especially Russia. Even though our estimates were already more cautious than those of the consensus (cf. report released on 6 January, we were 7% below c...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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