Nokian Tyres beat market expectations by reporting Q1 21 revenues driven by strong volumes in all its markets and market share gains in Russia. However, the weak Russian rouble exchange rate combined with a poor product-mix limited the margin recovery. The vague FY21 outlook was maintained. Input costs are expected to pick in H2 and should be mitigated by price increases and new product launches.
05 May 2021
Volume-driven Q1 surprise; guidance remains blurry
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Volume-driven Q1 surprise; guidance remains blurry
Nokian Tyres beat market expectations by reporting Q1 21 revenues driven by strong volumes in all its markets and market share gains in Russia. However, the weak Russian rouble exchange rate combined with a poor product-mix limited the margin recovery. The vague FY21 outlook was maintained. Input costs are expected to pick in H2 and should be mitigated by price increases and new product launches.