Nokian posted a mixed set of numbers with revenue decreasing by 27.2%, held back by Russia and the Americas (-49.9% yoy and -34.4% yoy, respectively) and passenger car tyres (-35.5% yoy, segment-wise). Limiting this contraction was the Nordics (-8.2% yoy). Additionally, Nokian didn’t present significant cost cuts, which translated into net income of €-22.4m (-108.4% yoy). However, FCF improved thanks to very favourable working capital and lower capex (-40.9% yoy). For now, the comp
05 Aug 2020
Winterless first half for Nokian
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Winterless first half for Nokian
Nokian Renkaat Oyj (NRE1:WBO) | 0 0 1.9% | Mkt Cap: 5,194m
- Published:
05 Aug 2020 -
Author:
David Chaucayanqui -
Pages:
3
Nokian posted a mixed set of numbers with revenue decreasing by 27.2%, held back by Russia and the Americas (-49.9% yoy and -34.4% yoy, respectively) and passenger car tyres (-35.5% yoy, segment-wise). Limiting this contraction was the Nordics (-8.2% yoy). Additionally, Nokian didn’t present significant cost cuts, which translated into net income of €-22.4m (-108.4% yoy). However, FCF improved thanks to very favourable working capital and lower capex (-40.9% yoy). For now, the comp