Nokian Tyres expects significant drop in net sales due to Ukraine war

Following the withdrawal of its 2022 guidance on 28 February, Nokian Tyres has commented that it expects net sales and segments operating profit in 2022 to “decrease significantly compared to 2021.” It explained that the war in Ukraine and resulting sanctions have caused “significant uncertainty” to Nokian Tyres’ operating environment. The manufacturer is easily the most acutely affected tyre business, as analysis previously published on Tyrepress shows. The impact of the conflict on Nokian is described in Nokian’s first quarter 2022 report, published today.