Nokian Renkaat’s Q2 was clearly worse than Q1. While the group’s revenue was down by 1.9% to €276m in Q1 and EBIT was up by 4.6% to €51m, these two numbers were -2.4% to €337m and -3.7% to €78m in Q2. Both H1 numbers of €613m (-2.2%) and €128m (-0.6%), respectively, are below our expectations of €627m and €136m. Net earnings after minorities fell by 49% to €101m. However, last year’s Q1 profit number was supported by one-off retro
09 Aug 2016
Fundamentals have deteriorated in Q2
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Fundamentals have deteriorated in Q2
Nokian Renkaat Oyj (NRE1:WBO) | 0 0 1.9% | Mkt Cap: 5,194m
- Published:
09 Aug 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Nokian Renkaat’s Q2 was clearly worse than Q1. While the group’s revenue was down by 1.9% to €276m in Q1 and EBIT was up by 4.6% to €51m, these two numbers were -2.4% to €337m and -3.7% to €78m in Q2. Both H1 numbers of €613m (-2.2%) and €128m (-0.6%), respectively, are below our expectations of €627m and €136m. Net earnings after minorities fell by 49% to €101m. However, last year’s Q1 profit number was supported by one-off retro