Nokian Renkaat Oyj : Better momentum than expected thanks to volumes and raw materials
>Very solid Q3 2020 print but still no guidance - Nokian Tyres yesterday reported much better than expected Q3 2020 results (EBIT >30% ahead of the consensus), further confirming the solid momentum in tyres for this quarter, as already evidenced at Continental and Michelin last week. The group benefited in particular from stronger volumes, coupled with sharply lower materials costs, despite a very adverse FX environment. Despite this, the group declined to issue ...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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