Nokian Q1 2009 Sales Down following 2008 Sales Growth
At the Nokian Tyres’ Annual General Meeting, held on April 2, company president and CEO Kim Gran announced that first quarter 2009 net sales are clearly lower than in the first quarter of 2008 and a net loss is expected. On a more positive note, Gran estimates that the first quarter will be the weakest of the year, and Nokian Tyres’ sales will increase during the other quarters. Full year net sales in 2009 will, however, be weaker than in 2008.
Last year proved to be Nokian Tyres’ 17th consecutive year of profitable sales growth, the company president and CEO told AGM attendees. Net sales of 1.08 billion euros for the financial year ending December 31, 2008 represent a 5.5 per cent increase on 2007 results, and operating profit increased a similar amount