Nokian Tyres warns of market volatility as Q4 results miss expectations (updated)

Nokian Renkaat Oyj

04/02/2025 11:13

(Adds shares in paragraph 2, CEO comment in paragraph 3,
detailed results in paragraphs 4-5, context paragraph 6)
       Feb 4 (Reuters) - Finland's Nokian Tyres  TYRES.HE 
reported lower than expected comparable operating profit for the
final quarter of 2024 on Tuesday, and warned that geopolitical
uncertainties may cause volatility in its markets.
    The company's shares were down 4.5% following the
publication of the earnings report at 1100 GMT. They had been
trading up 2.5% before that.
    "The recent announcements of trade tariffs are causing
uncertainty," CEO Jukka Moisio said in the statement. He added
that Nokian was analysing the possible impact of the tariffs and
creating a strategy to address them.
    The company said its comparable operating profit fell 19% to
35.9 million euros ($37 million) in the fourth quarter, well
below the 59.5 million euros expected by analysts on average in
a company-provided consensus poll.
    Sales in the quarter were 415 million euros, versus 418.6
million expected by the market.
    European automotive companies are struggling with weak
demand, high production costs and stiff competition from China,
which has led to a streak of layoffs and plant closures in
recent months.
    ($1 = 0.9679 euros)

 (Reporting by Boleslaw Lasocki in Gdansk; Editing by Milla
Nissi)
 ((Boleslaw.lasocki@thomsonreuters.com; +48 58 769 66 00;))