Nokian Renkaat Oyj : Q1 figures back up our cautious stance on the stock
>Q1 results sharply down and the worst is still to come - Nokian reported a sharp contraction in its Q1 2020 earnings that came in lower than expected (> -50% for EBIT). As for many, the focus of this release was nevertheless primarily on the group’s outlook. Like its peers, Nokian did not venture to provide fresh FY guidance given the uncertainty (it officially shelved its previous guidance at end-March). Nevertheless, the tyre maker made no secret about the future d...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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