Nokian Tyres plc Interim Report January-September 2025, October 28, 2025 at 1:00
p.m. EET
Nokian Tyres plc Interim Report January-September 2025: Strong operating profit
improvement in the third quarter, driven by enhanced pricing in passenger car
tires. Actions ongoing to further strengthen financial performance
This release is a summary of Nokian Tyres' Interim Report January-September
2025. The complete report is attached to this release. It is also available on
the company's website at company.nokiantyres.com/investors.
July-September 2025
· Net sales were EUR 344.1 million (July-September 2024: 313.6). With
comparable currencies, net sales increased by 10.8%. Sales growth outperformed
the market in North America.
· Segments operating profit was EUR 32.4 million (30.4), an improvement of
6.3%. The increase was driven by higher passenger car tire prices. Operating
profit was EUR 21.8 million (4.1), an improvement of 427.3%. Non-IFRS exclusions
totaled EUR -10.5 million (-26.3, including EUR -13.3 million mainly related to
inventory write-downs of contract manufacturing products, impacting
comparability).
· Earnings per share were EUR 0.04 (-0.03).
· Cash flow from operating activities was EUR -80.6 million (-92.2).
January-September 2025
· Net sales were EUR 957.3 million (January-September 2024: 874.8). With
comparable currencies, net sales increased by 10.3%. Sales growth outperformed
the market in Central Europe and North America.
· Segments operating profit was EUR 40.2 million (35.4), an improvement of
13.4%. The increase was driven by higher passenger car tire prices and sales
volume. Operating profit was EUR 0.7 million (-13.6), an improvement of 105.3%.
Non-IFRS exclusions totaled EUR -39.5 million (-49.1, including EUR -13.3
million mainly related to inventory write-downs of contract manufacturing
products, impacting comparability).
· Earnings per share were EUR -0.23 (-0.21).
· Cash flow from operating activities was EUR -185.9 million (-237.4).
· Paolo Pompei started as President and CEO of Nokian Tyres on January 1,
2025.
Guidance for 2025 (unchanged)
In 2025, Nokian Tyres' net sales are expected to grow and segments operating
profit as a percentage of net sales to improve compared to the previous year.
Assumptions for 2025
Tire demand in Nokian Tyres' markets is expected to remain at the previous
year's level in 2025. Development of global economy as well as geopolitical,
trade and tariff uncertainties may cause volatility to the company's business
environment.
Nokian Tyres' sales growth is supported by increasing capacity in the Romanian
and US factories as well as good availability of finished goods inventories.
Paolo Pompei, President and CEO:
“In July-September, we delivered another strong quarter significantly improving
our operating profit despite the prevailing market uncertainties and weak market
development. Net sales in comparable currencies increased by 10.8%, with all
regions contributing to the growth. North America significantly outperformed the
market. Segments operating profit improved, driven by enhanced pricing in the
Passenger Car Tyres segment, which continued to perform well.
As highlighted in our previous reports, we have accelerated efforts to
strengthen our financial performance. It is encouraging to see these actions are
already delivering tangible results, confirming that we are progressing in the
right direction. Ongoing operational initiatives have improved efficiency and
productivity across the organization. Additionally, improved working capital
management and reduced capital expenditures contributed to better cash flow.
Actions continue on many fronts to further improve our financial performance and
operational efficiency, strengthening Nokian Tyres long-term competitiveness.
Updated financial targets will be announced in connection with the financial
statements release in February 2026.
The ramp-up of operations in our Romania factory is progressing as planned. The
facility is now operating 24/7, producing approximately one million tires this
year. Production has begun on the newly launched UHP summer tire, the Nokian
Tyres Powerproof 2, specifically designed for the Central and southern European
markets.
Our innovation work will be recognized at the upcoming Agritechnica trade fair,
where we will receive the Agritechnica Innovation Silver Medal for our next
-generation Intuitu™ 2.0 Smart Pressure Assistant technology, developed for use
in tractor tires. The award, one of the most respected in the agricultural
machinery industry, underscores our technological excellence and reinforces our
reputation for high-performance solutions.
To further demonstrate our strong consumer focus, we are partnering with the
IIHF Ice Hockey World Championships as an official sponsor for the 2026 and 2027
tournaments. The partnership provides a valuable platform to strengthen the
Nokian Tyres brand and engage with audiences across our key markets.
Looking ahead to 2025, our goal is to grow net sales and improve segments
operating profit as a percentage of net sales compared to the previous year.
With ongoing initiatives and a disciplined focus on execution, our team is well
-positioned to deliver profitable growth.”
Key figures
EUR million 7-9/2025 7-9/2024 1-9/2025 1-9/2024 2024
Net sales 344.1 313.6 957.3 874.8 1,289.8
Net sales change, % 9.7% 13.6% 9.4% 8.6% 9.9%
Net sales change in 10.8% 14.4% 10.3% 9.4% 10.6%
comparable currencies,
%
Operating profit 21.8 4.1 0.7 -13.6 1.8
Operating profit 427.3% 105.3%
change, %
Operating profit, % 6.3% 1.3% 0.1% -1.6% 0.1%
Result before tax 7.4 -5.6 -37.5 -35.9 -31.5
Result for the period 5.7 -4.2 -31.4 -28.9 -22.8
EPS, EUR 0.04 -0.03 -0.23 -0.21 -0.17
Segments EBITDA 65.4 58.8 135.1 118.1 185.2
Segments EBITDA, % 19.0% 18.8% 14.1% 13.5% 14.4%
Segments operating 32.4 30.4 40.2 35.4 71.4
profit
Segments operating 6.3% 13.4%
profit change, %
Segments operating 9.4% 9.7% 4.2% 4.1% 5.5%
profit, %
Segments ROCE, %* 3.6% 4.2% 3.9%
Equity ratio, % 44.6% 49.6% 52.5%
Gearing, % 86.2% 64.0% 48.2%
Interest-bearing net 987.4 801.3 613.1
debt
Capital expenditure 32.3 101.1 122.0 260.0 350.1
Cash flow from -80.6 -92.2 -185.9 -237.4 77.4
operating activities
* Rolling 12 months
In addition to IFRS figures, Nokian Tyres publishes alternative non-IFRS
segments figures, which exclude the ramp-up of the US and Romanian factories and
other possible items that are not indicative of the Group's underlying business
performance.
BUSINESS UNIT REVIEWS
Passenger Car Tyres
+----------------------+--------+--------+--------+--------+-----+
|EUR million |7-9/2025|7-9/2024|1-9/2025|1-9/2024|2024 |
+----------------------+--------+--------+--------+--------+-----+
|Net sales |234.0 |209.9 |614.3 |541.8 |779.9|
+----------------------+--------+--------+--------+--------+-----+
|Net sales change, % |11.5% |23.8% |13.4% |18.9% |19.4%|
+----------------------+--------+--------+--------+--------+-----+
|Net sales change in |13.2% |24.9% |14.9% |20.0% |20.2%|
|comparable currencies,| | | | | |
|% | | | | | |
+----------------------+--------+--------+--------+--------+-----+
|Operating profit |28.4 |8.3 |9.8 |-9.0 |-15.6|
+----------------------+--------+--------+--------+--------+-----+
|Operating profit, % |12.1% |3.9% |1.6% |-1.7% |-2.0%|
+----------------------+--------+--------+--------+--------+-----+
|Segment operating |38.9 |34.4 |48.7 |38.6 |52.2 |
|profit | | | | | |
+----------------------+--------+--------+--------+--------+-----+
|Segment operating |16.6% |16.4% |7.9% |7.1% |6.7% |
|profit, % | | | | | |
+----------------------+--------+--------+--------+--------+-----+
Heavy Tyres
+----------------------+--------+--------+--------+--------+-----+
|EUR million |7-9/2025|7-9/2024|1-9/2025|1-9/2024|2024 |
+----------------------+--------+--------+--------+--------+-----+
|Net sales |55.4 |57.9 |172.0 |173.2 |235.1|
+----------------------+--------+--------+--------+--------+-----+
|Net sales change, % |-4.4% |-2.9% |-0.7% |-11.3% |-8.6%|
+----------------------+--------+--------+--------+--------+-----+
|Net sales change in |-4.4% |-2.3% |-0.6% |-10.7% |-8.0%|
|comparable currencies,| | | | | |
|% | | | | | |
+----------------------+--------+--------+--------+--------+-----+
|Operating profit |5.0 |7.5 |18.3 |21.5 |30.0 |
+----------------------+--------+--------+--------+--------+-----+
|Operating profit, % |9.0% |12.9% |10.6% |12.4% |12.8%|
+----------------------+--------+--------+--------+--------+-----+
|Segment operating |5.0 |7.5 |18.3 |21.5 |30.0 |
|profit | | | | | |
+----------------------+--------+--------+--------+--------+-----+
|Segment operating |9.0% |12.9% |10.6% |12.4% |12.8%|
|profit, % | | | | | |
+----------------------+--------+--------+--------+--------+-----+
Vianor, own operations
+----------------------+--------+--------+--------+--------+-----+
|EUR million |7-9/2025|7-9/2024|1-9/2025|1-9/2024|2024 |
+----------------------+--------+--------+--------+--------+-----+
|Net sales |74.9 |69.4 |231.4 |220.8 |354.9|
+----------------------+--------+--------+--------+--------+-----+
|Net sales change, % |7.9% |2.0% |4.8% |1.3% |3.2% |
+----------------------+--------+--------+--------+--------+-----+
|Net sales change in |7.0% |2.4% |4.2% |1.9% |3.6% |
|comparable currencies,| | | | | |
|% | | | | | |
+----------------------+--------+--------+--------+--------+-----+
|Operating profit |-6.4 |-6.6 |-14.7 |-15.0 |-3.8 |
+----------------------+--------+--------+--------+--------+-----+
|Operating profit, % |-9.0% |-9.5% |-6.5% |-6.8% |-1.1%|
+----------------------+--------+--------+--------+--------+-----+
|Segment operating |-6.4 |-6.6 |-14.7 |-15.0 |-3.8 |
|profit | | | | | |
+----------------------+--------+--------+--------+--------+-----+
|Segment operating |-9.0% |-9.5% |-6.5% |-6.8% |-1.1%|
|profit, % | | | | | |
+----------------------+--------+--------+--------+--------+-----+
|Number of own service |171 |175 | | |174 |
|centers at period end | | | | | |
+----------------------+--------+--------+--------+--------+-----+
WEBCAST & CONFERENCE CALL
A combined webcast and teleconference for investors, analysts and media will be
held on October 28, 2025 at 2:00 p.m. EET. Nokian Tyres' President and CEO Paolo
Pompei and interim CFO Jari Huuhtanen will present the results. Participants can
follow the webcast via https://nokiantyres.events.inderes.com/q3-2025/register.
To ask questions, please join the teleconference by registering at
https://events.inderes.com/nokiantyres/q3-2025/dial-in. Phone numbers and a
conference ID to access the conference will be provided upon registration.
A recording of the webcast will be available on the company's website for 12
months after the event.
FINANCIAL REPORTING
Financial Statement Release 2025 will be published on February 10, 2026.
Releases and company information are available at
company.nokiantyres.com/investors.
Further information:
Paolo Pompei, President and CEO, tel: +358 10 401 7000
Annukka Angeria, Senior Manager, IR and Strategic Project Communications, tel:
+358 10 401 7581
Nokian Tyres' purpose is to make the world safer by reinventing tires, and how
they are made, over and over again - a safer place to drive, work and live now
and for generations to come. Inspired by our northern heritage, we develop and
manufacture premium tires for passenger cars, trucks and heavy machinery with
sustainability at the heart of all our operations. Our Vianor chain provides
tire and car services. We are some 3,800 people with net sales of EUR 1.3
billion in 2024, and together we lead the journey to smarter driving for people
and for businesses. Nokian Tyres is listed on Nasdaq Helsinki.Further
information:company.nokiantyres.com, (https://eur04.safelinks.protection.outlook.
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