Nokian Finds 2022 Bright Spot in North American Growth

Despite lower tire volumes due to the company’s exit from Russia, Nokian Tyres plc recorded a 3.6% increase in net sales in 2022. The tiremaker reported an operating loss of 116.2 million euros for the year.

The financial report comes as Nokian works to adapt its global supply chain since the exit from Russia, home of its dominant passenger tire production facility. In 2021 that Russian plant produced 82% of the company’s passenger tires. In 2022, that production dropped to 64%. …

Source: MTD