Nokian Renkaat Oyj : Outlook still vague post Q2 release but likely to remain challenging
>Q2 2020 did not contain any unpleasant surprise but still no guidance - Nokian reported on Tuesday, 4 August, Q2 2020 results in line (a shade above on adjusted EBIT but mainly thanks to Vianor) and, unsurprisingly, marked by the COVID-19 pandemic. Note that the tyre maker had announced in June that it would book exceptional charges to the tune of € 42m on Q2 and which explains the lion’s share of our revisions. However, the focus was more on the group’s outlook, s...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.
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