Analysts Expect Nokian Q1 EBIT to Plummet

A Reuters poll of eleven analysts anticipates a 93 per cent drop in first quarter operating earnings for Finnish tyre manufacturer Nokian Renkaat. This massive decline is predicted due to much weaker demand. Pre tax and interest earnings for the January to March period are expected on average to fall to four million euros, contrasting strongly with the 54 million euros recorded in the same quarter last year. The mean prediction for net sales was a 32 per cent drop to 167 million euros, while a net loss of seven million euros is anticipated.

For the full year, the eleven analysts expect net sales of 886 million euros, an EBIT of 140 million and a net profit of 82 million euros. The company will release its results on May 7.