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Nov 4, 2021

Nokian Tyre Q3 Financial Results: Net Sales Increased by 24.6%

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“In July–September, we achieved a record-high third quarter net sales. Thanks to a great performance by all our business units and business areas, together with early timing of deliveries, net sales with comparable currencies increased by 24.6%. Segments operating profit grew significantly driven by higher sales volume.

As anticipated, increased raw material and logistics costs, including the shortage of container capacity, were visible in the third quarter. We have taken mitigating actions, including price increases, to reduce the impact of cost inflation. These actions led to a higher Average Sales Price in the third quarter. We have announced further prices increases in a wide range of markets and products, and we will continue to carefully control costs, as cost inflation is expected to continue. …

Key figures

EUR million 7–9 /21 7–9 /20 Change % CC* Change % 1–9 /21 1–9 /20 Change % CC* Change % 2020
Net sales 443.5 349.9 26.8% 24.6% 1,201.5 900.4 33.4% 34.9% 1,313.8
Operating profit 89.1 62.3     215.2 48.6     120.0
Operating profit % 20.1% 17.8%     17.9% 5.4%     9.1%
Profit before tax 85.0 56.2     208.3 35.1     106.0
Profit for the period 69.1 52.5     169.1 30.1     86.0
EPS, EUR 0.50 0.38     1.22 0.22     0.62
Segments operating profit 96.9 69.3     236.8 110.1     190.2
Segments operating profit % 21.8% 19.8%     19.7% 12.2%     14.5%
Segments EPS, EUR 0.54 0.44     1.35 0.60     1.04
Segments ROCE, %**         14.4% 9.5%     9.3%
Equity ratio, %         65.7% 57.5%     65.3%
Cash flow from operating activities -81.0 7.1     -96.1 -6.6     422.4
Gearing, %         15.9% 18.5%     -1.1%
Interest-bearing net debt         251.0 280.6     -17.2
Capital expenditure 20.3 31.0     59.6 118.5     149.9

* Comparable currencies ** Rolling 12 months

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Source: Nokian Tyres

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