Analysts: Nokian 1Q EBIT 80 per cent Above Expectations

Financial analysts at Deustche Bank have commented that Nokian’s first quarter performance as clearly exceeded expectations. Nokian’s 200 million euros of net sales and 39 million euros of pre-tax profits were described as “16 per cent and 80 per cent better than expected, largely driven by strong demand in Russia for both summer and winter tyres. Furthermore the company’s mix of winter tyres was said to be “clearly better in first quarter than it was last year.”