Nokian Tyres net sales increase 33 percent

qiangzi

Friday, May 18, 2012
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  Z% |3 g' Z* sNokia, Finland - Nokian Tyres group’s net sales increased by 32.9 percent to EUR 384.3 million (EUR 289.2 million in the first quarter of 2011). Operating profit grew to EUR 105.0 million (EUR 72.3 million). Earnings per share increased to EUR 0.67 (EUR 0.49). The company said the demand and order book for Nokian car tires is strong on all Nokian Tyres’ core markets, especially in Russia. For Nokian Tyres, the growing production capacity offers further growth potential and productivity gains, and a declining fixed cost ratio supports profitability. In Central Europe, there are uncertainties due to the economic situation and distributors’ high carry-over winter tire stocks. Nokian Heavy Tyres’ sales in 2012 are estimated to decrease compared to 2011 due to a softer demand. -