Brief: Nokian Tyres Keeps Guidance For 2024

Nokian Renkaat Oyj

29/04/2024 11:13

April 29 (Reuters) - Nokian Tyres plc  TYRES.HE :
    * GUIDANCE FOR 2024 (UNCHANGED)
    * Q1 NET SALES AND SEGMENTS OPERATING PROFIT WERE AT
PREVIOUS
YEAR'S LEVEL
    * OUTLOOK 2024: NET SALES WITH COMPARABLE CURRENCIES AND
SEGMENTS
OPERATING PROFIT ARE EXPECTED TO GROW SIGNIFICANTLY COMPARED TO
PREVIOUS YEAR (UNCHANGED)
    * CAR AND TIRE MARKET CONTINUES TO BE DEMANDING DUE TO
ECONOMIC
UNCERTAINTIES AND LOW CONSUMER CONFIDENCE
    * TIRE SELL-IN IS EXPECTED TO GROW IN 2024
    * DURING Q1, WE FACED ADDITIONAL DISADVANTAGES DUE TO RED
SEA
CRISIS AS WELL AS POLITICAL STRIKES IN FINLAND
    * SALES GROWTH AND SEGMENTS OPERATING PROFIT ARE EXPECTED TO
BE
GENERATED IN SECOND HALF OF YEAR
    * DUE TO STRIKES IN FEBRUARY-APRIL, WE LOST IN TOTAL
APPROXIMATELY
THREE WEEKS OF PRODUCTION IN PASSENGER CAR TYRES AND ONE WEEK IN
HEAVY TYRES
    * NEGATIVE FINANCIAL IMPACT OF POLITICAL STRIKES AND RED SEA
CRISIS IS APPROXIMATELY EUR 20 MILLION IN EBITDA, OF WHICH MORE
THAN HALF IN Q1
    * Q1 SEGMENT OPERATING LOSS EUR 15.1 MILLION VERSUS VARA
CONSENSUS
EUR 1.2 MILLION

Source text for Eikon:  ID:nWkr4zjjDy 
Further company coverage:  TYRES.HE 

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