Solidium: Nokian Tyres Romania plans offer ‘good prospects for building the business on a new basis’

Publishing its second-half 2022 report on 25 January, Solidium Oy (Nokian Tyres’ largest single shareholder) expressed confidence in the Finnish tyremaker’s work last year.

Commenting on Solidium’s second-half results, CEO Reima Rytsölä was supportive of Nokian Tyres’ decision to leave Russia: “The divestment of the operations in Russia and the investment into a new factory in Romania clarifies the company’s direction and we believe it has good prospects for building the business on a new basis.”

Indeed, Solidium put its money where its mouth is and between July and December 2022, bought roughly 10 million euros worth of Nokian Tyres. As a result, Solidium’s shareholding in Nokian Tyres increased from 9.4 per cent to its current level of 10.1 per cent.

Finnish state-linked Solidium’s 10.1 per cent position might make it Nokian Tyres’ largest single shareholder, but at 2 per cent that shareholding remains a relatively small part of the wider Solidium portfolio (see pie chart).