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Slow European demand/Nokian profit warning leads to share price drops

Shares in Nokian Tyres fell by as much as 12 per cent following a profit warning issued by the company today (16 October 2012). According to Bloomberg, the fall was the biggest drop since 5 August with prices tumbling to 29.94 euros (down 11 per cent) as of 15:08. But it didn’t stop there and instead the market experienced a degree of negative contagion following this news and similarly gloomy demand projections from European tyre makers.

16th October 2012/by Tyrepress Editors

Nokian introduces Noktop Hakkapeliitta F winter trailer tread

Nokian has unveiled a new addition to its Noktop Hakkapeliitta line with a product it calls the market’s first winter tread for wide trailer tyres. The Noktop Hakkapeliitta F is designed particularly for commercial vehicles with low trailers in international operation especially in Nordic conditions. The tread is available for tyre casings in size 445/45R19.5.

3rd October 2012/by Tyrepress Editors

Could Europe witness a PCR retread revival?

A few years ago our March 2005 Retreading Special questioned the future of passenger car retreading in Europe after the decisions of Reif Reifen + Autotechnik GmbH and Nokian Tyres to exit the segment sounded a death knell for the industry. Despite this, a few companies have managed to cling on, but due to the huge rise in production of car tyres in so-called low-cost countries such as the Far East, retreads have struggled to compete at this end of the market. At the same time the trouble caused by the ongoing financial crisis has put pressures on businesses and consumers alike, with some markets such as the UK experiencing a sharp increase in the sales of part worn tyres. This in turn has led sections of the market to declare war on part worn tyres they see both as questionable in terms as safety and as a threat to the sales of better quality and higher value products. With all this in mind, Tyres & Accessories asks if there is a middle ground for passenger retreaders to occupy in the pressurised mature markets of Western Europe.

28th September 2012/by Tyrepress Editors

Nokian premieres ‘AA’ rated summer range

Nokian Tyres claims membership in the exclusive ‘AA’ label club with the introduction of its new eLine summer tyre range. Sales of the eLine, a product suitable for smaller cars, will begin in spring 2013.

18th September 2012/by Tyrepress Editors

Nokian previews zLine summer range

A new Nokian Tyres summer range will be available in selected European markets as of spring 2013; named the zLine, the new line-up is aimed at the UHP segment and replaces the Nokian Z G2. The zLine will be available in 31 dimensions for 16 to 20-inch rim diameters and W and Y speed ratings.

7th September 2012/by Tyrepress Editors

1,000th Vianor outlet to open before year’s end

At the end of the second quarter, Nokian Tyres could count a total of 961 fast fit outlets operating under the Vianor banner. While the tyre maker directly owns 180 of these, a further 781 operate under franchise and other partnership agreements. In the first half of 2012 the network grew by a further 51 outlets, and upon releasing its financial data to 30 June Nokian stated that it sees reaching the 1,000 outlet milestone a realistic goal for this year.

13th August 2012/by Tyrepress Editors

Nokian on track for higher 2012 sales, profits

Half year 2012 financial results for Nokian Tyres have been released, and these show the Finnish tyre maker’s sales to be 27.1 per cent up on a year ago. Nokian achieved group net sales of 798.0 million in the six months to 30 June, while operating profit increased 31.5 per cent to 217.7 million euros. Net profit went up 33.9 per cent to 182.9 million euros and earnings per share rose from 1.06 euros to 1.40 euros. Net sales, operating and net profits for the second quarter of 2012 were 413.8 million euros, 112.7 million euros and 95.4 million euros respectively.

8th August 2012/by Tyrepress Editors

Nokian’s minimalist Reifen stand strikes premium pose

The inventor of the winter tyre, Finland’s Nokian Tyres had a stand in Hall Three that was striking for its minimalist, expressionistic Nordic feel… and because it had only one tyre model displayed on its stand. The tyre it did show was, as it would have to be, special: the Hakkapeliitta 7 studded tyre (255/35R20 97 T XL) was fitted to Nokian’s world record-setting modified Audi RS-6, driven by the company’s test driver Janne Laitinen, which travelled at 331,610km/h on the Gulf of Bothnia in Oulu, Finland. The tyre also made history in 2012 on the E-RA electric car built by students at the Helsinki Metropolia University of Applied Sciences that Laitinen also drove at record ice speeds – 252.09 km/h. Despite these feats, the tyre is the regular production model, sold mainly across the Nordic region and Russia, where the brand is number one in terms of “recognition and appreciation”.

5th July 2012/by Tyrepress Editors

19,000 attended Reifen 2012

The 27th Reifen show in Essen was the best yet with 19,000 trade visitors in attendance, according to show organisers Messe Essen. While the company announced that it had the largest number of exhibitors in the event’s history and the strongest international participation before the show, increased footfall was confirmed at the end of the event. Talk of tyre labelling and the new products linked to this legislation dominated the trade fair.

13th June 2012/by Tyrepress Editors

Russian growth a Q1 highlight at Nokian

Nokian Tyres president and CEO Kim Gran says the Finnish tyre maker got off to a “flying start” in 2012 and made clear improvements in both production and sales. In a stock exchange release dated 9 May, Gran shared that “sales improved in all our markets with growth in Russia again outshining other areas. Productivity gains, a tight ship and an improved ASP guaranteed a good financial result.”

14th May 2012/by Tyrepress Editors

De Klok on track for a strong 2012

Although De Klok Banden has only been headquartered at its current site for seven years, organic growth and partnership deals in recent times mean space within the wholesaler’s warehouse in Oud-Beijerland, the Netherlands is already at a premium. When Tyres & Accessories met with company director Wim van der Heiden in late February, he shared that De Klok is planning to move some time soon.

26th March 2012/by Tyrepress Editors

Nokian's record breaking electric performance on ice

Test driver Janne Laitinen from Nokian Tyres reached a speed of 252.09 km/h (156.64 mph) in the E-RA electric car on the ice of Lake Ukonjärvi in Inari, Finland. The record, achieved on 17 March by Nokian and the Helsinki Metropolia University of Applied Sciences' high-tech E-RA (Electric RaceAbout) vehicle, is unique.

22nd March 2012/by Tyrepress Editors

Russia the key driver of Nokian’s growth

In its 2011 annual report, Nokian Tyres has singled Russia out as the company’s strongest growth area. Reporting rising sales in all Nokian’s key regions – the Nordic markets, Central Europe and Russia – and growing market share in the last two of these, president and CEO Kim Gran stated that “as expected, this development was strongest in Russia, which, boosted by the car business, represented approximately one-half of our growth.”

20th March 2012/by Tyrepress Editors

Nokian Rotiiva AT summer tyre for SUVs

Nokian has introduced its new Rotiiva AT (All Terrain) summer tyre for SUVs into its core European markets. The tyre, says Nokian is excellent on asphalt or gravel, but also performs well in lighter off-road conditions. The sturdy structure and tailored, cut-resistant tread compound give the tyre excellent durability when used with heavier cars. The comprehensive selection of sizes is aimed at light trucks, larger SUVs, and pick-ups. The selection of sizes covers a total of 26 models from 15" up to 20".

9th February 2012/by Tyrepress Editors

Nokian profit up 82% in 2011

Despite the biting chill of the Finnish winter, the team at Nokian Tyres has surely been warmed by the company’s performance results for the 2011 financial year, which were released on 8 February. During the twelve month period group net sales rose 37.7 per cent to 1.46 billion euros and operating profit increased 71.1 per cent to 380.1 million euros. Better still, the all-important bottom line shot up 82.0 per cent, with profit for the year to 31 December 2011 amounting to 308.9 million euros.

8th February 2012/by Tyrepress Editors