Nokian Renkaat Oyj : Q3 better than expected but FY guidance unchanged (and still vague)
>Q3 earnings well ahead of expectations but FY guidance still unchanged - Nokian Tyres’ Q3 2021 results, reported yesterday, substantially beat expectations (close to 30% for adjusted EBIT), driven by excellent momentum for volumes (plants at full capacity), albeit partly justified by early deliveries, and very solid pricing in the current inflationary environment. However, and based on management’s continuing uncertainty around the end-of-year situation, the group is...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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