Nokian Tyres' loss narrows more than expected, shares rise (updated)

Nokian Renkaat Oyj

22/04/2026 11:12

Adds details on pricing and costs in paragraphs 1, 3, Q1 sales in paragraph 5, updates shares in paragraph 6.

April 22 (Reuters) - Finland's Nokian Tyres TYRES.HE reported a narrower loss than the market had expected on Wednesday despite continued market uncertainty, after it hiked prices of passenger car tyres in the first quarter.

Nokian's adjusted operating loss narrowed to 4.3 million euros ($5.1 million) in the first three months of 2026, from 18.5 million euros a year ago. Analysts were expecting an average loss of 6.7 million euros in a company-provided poll.

Prices grew and volumes increased in the passenger tyre business in the quarter, while Nokian also managed to reduce costs of production, it said.

However, it warned that market uncertainty would persist as the U.S.-Israeli war with Iran mounts pressure on the already troubled automotive industry. Tyre makers may also take a more direct hit from soaring oil prices, as crude oil derivatives are used as a raw material to make synthetic rubber for their tyres.

Nokian's quarterly sales rose 3.8% to 279.6 million euros, slightly below the market estimate of 281.5 million. The company maintained its earlier forecast for stable demand this year.

Its shares were up 2.3% as of 1020 GMT, having traded flat before the earnings publication.

(Reporting by Boleslaw Lasocki in Gdansk, editing by Milla Nissi-Prussak)

((boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))