Nokia, Finland, 2013-10-04 08:30 CEST (GLOBE NEWSWIRE) -- Nokian Tyres plc Stock Exchange Release 4 October 2013, 9.30 a.m.
Nokian Tyres: In 2013 Net sales and Operating profit are to show some decline compared to 2012
Nokian Tyres’ Q3/2013 sales were flat and Operating profit slightly up compared to Q3/2012. However, due to the weakened Rouble exchange rate and softer market demand for tyres in Russia, Nokian Tyres’ Net sales and Operating profit are estimated to be somewhat lower in the second half and full year 2013 compared to 2012.
Nokian Tyres has booked excellent test results and victories in all major magazines with its new winter tyre Nokian Hakkapeliitta 8 and increased its market shares in all core markets. Market share has improved especially for winter tyres in Russia and Nordic countries. However, it is not enough to offset the weaker market conditions in Russia and Central Europe in 2013. The unfavorable currency exchange rate development of Russian Rouble during 2013 is estimated to generate a negative effect of approximately EUR 25 million on Net sales and approximately EUR 14 million on Operating profit of Nokian Tyres Group in full year 2013.
The demand in Nordic countries and CE is recovering. In Nordic countries Nokian Tyres’ full year sales are expected to show some growth. In CE the H2 sales are estimated to grow.
In 2014 the company estimates to be back on a profitable growth track.
Financial guidance (updated)
In 2013, Net sales and Operating profit will show some decline compared to 2012.
Previous guidance from 9 August 2013
In 2013, the company is positioned to show flat to some growth in Net sales and Operating profit compared to 2012.
Nokian Tyres will publish its Interim report for January-September on 31st October 2013.
Nokian Tyres plc
Antti-Jussi Tähtinen, Vice President, Marketing and Communications
Mr. Kim Gran, President and CEO, tel: +358 10 401 7336
Mrs. Anne Leskelä, CFO, tel: +358 10 401 7481
Distribution: NASDAQ OMX Helsinki, media, www.nokiantyres.com