Nokian Tyres (TYRES) investor relations material

Executive summary

• Q3 net sales rose 4.4% YoY to EUR 359.1m; operating profit increased to EUR 37.9m from EUR 21.8m, supported by price repositioning and lower manufacturing and material costs.

• Sales grew across all regions, and record-high sales value from tires sized 18 inches and larger supported a higher-value mix.

• Premium products, value-over-volume priorities and efficiency actions supported profitability; 2026 segment operating profit margin guidance was raised to the higher end of 9–10%.

Financial highlights

• Q3 net sales were EUR 359.1m (+4.4% reported; +2.9% in comparable currencies); 9M net sales were EUR 1,018.7m (+6.4%).

• Q3 operating profit was EUR 37.9m vs. EUR 21.8m; 9M operating profit was EUR 54.9m vs. EUR 0.7m.

• Q3 Segments EBITDA rose 22% to EUR 80.1m, or 22.3% of sales; Segments operating profit rose 45.3% to EUR 47.0m, or 13.1% of sales.

• 9M Segments EBITDA increased to EUR 187.1m from EUR 135.1m; Segments operating profit rose to EUR 87.7m from EUR 40.2m.

• 9M result for the period was EUR 20.4m vs. EUR -31.4m; EPS was EUR 0.15 vs. EUR -0.23, while Q3 EPS was EUR 0.17 vs. EUR 0.04.

Outlook and guidance

• 2026 net sales are expected to grow YoY; segment operating profit margin is expected at the higher end of the 9–10% range, updated from 8–10%.

• Tire demand in served markets is expected to remain flat in 2026; new products, price/mix and efficiency improvements are expected to support profitability.

• Full-year CapEx is expected at EUR 60m–80m; the effective tax rate is ~20%, with no expected change.

• Updated targets through 2029: net sales of EUR 1.8–2.0bn, Segments EBITDA margin >24%, Segments operating profit margin >15%, and net debt/Segments EBITDA <2.