Nokian Renkaat Oyj : High valuation premium barely compatible with the lack of visibility
>Q2 2021 better than expected but FY guidance unchanged - Nokian Tyres published yesterday very solid Q2 2021 earnings that beat estimates. This confirmed that like other players, the company has benefited from the favorable environment in the last few months in terms of volumes (+76% in passenger tyres), particularly given its higher exposure to Russia where the rebound was stronger. Nonetheless, despite a very strong start to the year and the recent announcements of...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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