Revenue fell by 2% to €276m in the last quarter but EBIT was up by 5% to €51m. We had expected €285m and €50m, respectively. At a glance, net profit (-71% to €40m) is a disaster. However, the company was burdened with retroactive tax charges in 2013. Some €101m of these charges were vindicated in Q1 15. Consequently, net profit is up by 16% when this one-off income item is excluded and it is above our projected €38m.
04 May 2016
Q1 revenue poor, but good profits
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Q1 revenue poor, but good profits
Nokian Renkaat Oyj (NRE1:WBO) | 0 0 1.9% | Mkt Cap: 5,194m
- Published:
04 May 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Revenue fell by 2% to €276m in the last quarter but EBIT was up by 5% to €51m. We had expected €285m and €50m, respectively. At a glance, net profit (-71% to €40m) is a disaster. However, the company was burdened with retroactive tax charges in 2013. Some €101m of these charges were vindicated in Q1 15. Consequently, net profit is up by 16% when this one-off income item is excluded and it is above our projected €38m.