Q1 Results “Better Than Expected” – Nokian

Nokian Tyres had a “better than expected” first quarter of 2007. During the quarter Nokian Tyres recorded sales of approximately 200 million euros a 34 per cent gain on the 149.4 million euro reported a year earlier. Operating profit trebled, with profits of 39 million euros achieved during the quarter.

Nokian cite the main reasons for these better than expected results to be continued strong sales growth in Russia plus stronger than expected summer tyre sales. Winter tyre pre-sales exceeded previous year and the newly launched Nokian Hakka summer tyre range boosted summer tyre sales. Nokian Tyres’ targets for 2007 will remain the same. The company’s projected full year net sales are 900 – 1,000 million euros.