Nokian Renkaat Oyj : A solid Q1 but valuation still high in the face of limited visibility
>Q1 better than expected, buoyed by a stronger rebound in demand - Nokian has reported Q1 2021 earnings that beat expectations (+9% on revenues and +14% on EBIT) and which reflect a marked rebound in demand (+22% on sales, +28% on an organic basis), admittedly against a depressed 2020 comparison base (impact of lockdowns, Russia). That said, even though sales have already returned to 2019 levels and the group is now working at full production capacity, EBIT remained ...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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