Thanks to a sharp demand recovery in Russia/CIS, Nokian Renkaat increased its revenue by 17.2% to €719m in H1 (+16.5% to €393m in Q2 alone). Although H1 raw material costs were up by more than 20%, EBIT increased by almost 20% to €153m (+21% to €94m in Q2 alone) and net profit by 15% to €116m and 16% to €71m, respectively. All these numbers are slightly higher than our expectation.
08 Aug 2017
Good H1 numbers with a slight profit margin increase
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Good H1 numbers with a slight profit margin increase
Nokian Renkaat Oyj (NRE1:WBO) | 0 0 1.9% | Mkt Cap: 5,194m
- Published:
08 Aug 2017 -
Author:
Hans-Peter Wodniok - Pages:
Thanks to a sharp demand recovery in Russia/CIS, Nokian Renkaat increased its revenue by 17.2% to €719m in H1 (+16.5% to €393m in Q2 alone). Although H1 raw material costs were up by more than 20%, EBIT increased by almost 20% to €153m (+21% to €94m in Q2 alone) and net profit by 15% to €116m and 16% to €71m, respectively. All these numbers are slightly higher than our expectation.