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Nokian Tyres Q1 2018 sales up 3.1%

Nokian Tyres Q1 2018 sales up 3.1%

Nokian Tyres has reported that net sales increased by 3.1% to EUR 336.0 million in the January−March 2018 period. Currency exchange rate changes affected net sales negatively by EUR 20.2 million. Operating profit increased by 4.0% to EUR 61.2 million (58.9). The profit for the period increased by 2.8% to EUR 46.6 million when compared to the same period in 2017.

“Our net sales improved in all market areas despite the negative currency effect. Operating profit increased compared to first quarter in 2017. In Passenger Car Tyres, sales volumes and prices in local currencies improved together with product mix. In March 2018, we announced the modernized Nokian Tyres brand in order to support the company’s strategic growth areas of North America and Central Europe, where we are seeking profitable growth also outside the traditional winter tyre markets. The construction work for Nokian Tyres’ third factory in Dayton, TN, has started in North America,” said Hille Korhonen, President and CEO, Nokian Tyres.

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