Nokian Tyres posts Q2 core profit above expectations, sticks to 2026 forecast (updated)

Nokian Renkaat Oyj

17/07/2026 11:35

Adds details on results in paragraphs 2 and 3, share performance in 6, outlook in 4, context in 5

    July 17 (Reuters) - Finnish tyre maker Nokian TYRES.HE posted higher-than-expected second-quarter core profit on Friday, helped by stronger sales volumes and enhanced pricing. 

    The group said its quarterly comparable operating profit came in at €45 million ($51 million), against €34.9 million expected by analysts in a company-provided consensus. It cited a positive impact from higher sales and lower manufacturing and material costs.
  

    The company's net sales in the quarter rose 10.6% to €380 million, against an average forecast of €360.6 million euros.
  

    However, Nokian kept its full year forecast unchanged, expecting tyre demand in its markets to remain flat as it warned of the impact from geopolitical conflicts and uncertainty related to tariffs in the United States.
  

    Tariffs, growing competition in China and rising production costs amid geopolitical instability have 
    pressured
     the European automotive industry, with major carmakers resorting to job cuts and plant closures.
  

    Nokian shares were up 2.5% at 1030 GMT, after falling 1% before the results were published.
  
     

 (Reporting by Boleslaw Lasocki in Gdansk, editing by Bartosz Dabrowski)
 ((boleslaw.lasocki@thomsonreuters.com))