Brief: Nokian Tyres Sees Strong Cash Generation In Q4

Nokian Renkaat Oyj

31/10/2023 13:00

Oct 31 (Reuters) - Nokian Tyres plc  TYRES.HE :
    * NOKIAN TYRES PLC INTERIM REPORT JANUARY-SEPTEMBER 2023:
MARKET
ENVIRONMENT CHALLENGING, BUILDING THE NEW NOKIAN TYRES ON TRACK
    * IN JULY-SEPTEMBER 2023, OUR PROFITABILITY CONTINUED TO
IMPROVE,
AND SEGMENTS EBITDA ROSE CLOSE TO 17 PERCENT
    * CAR AND TIRE MARKET CONTINUED TO BE DEMANDING, AND
INVENTORIES
IN DISTRIBUTION WERE ON A HIGH LEVEL
    * CUSTOMERS' FOCUS ON INVENTORY MANAGEMENT TOGETHER WITH LOW
CONSUMER CONFIDENCE AFFECTED Q3 NET SALES NEGATIVELY
    * WE ESTIMATE, BASED ON CUSTOMER FEEDBACK, THAT WE HAVE
MAINTAINED
OR FURTHER IMPROVED OUR MARKET SHARE IN PREMIUM WINTER TIRES
    * NEW PASSENGER CAR TIRE FACTORY IN ROMANIA IS STARTING TO
TAKE
SHAPE AND IS WELL ON TRACK FOR FIRST TIRES TO BE PRODUCED IN
LESS THAN A YEAR
    * IN Q4 WE EXPECT CASH GENERATION TO BE STRONG
    * MARKET ENVIRONMENT IS CURRENTLY CHALLENGING, IT DOES NOT
AFFECT
OUR LONG-TERM FINANCIAL TARGETS

Source text for Eikon:  ID:nWkr6GMJQf 
Further company coverage:  TYRES.HE 

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